Strategies to Boost the Average Order Value in Your Shopify Store
How to Calculate Average Order Value (AOV)
Before diving into the strategies, it is essential to understand how AOV is calculated. The formula for AOV is simple:
Average Order Value (AOV) = Total Revenue / Number of Orders
This metric provides valuable insights into customer purchasing behaviour and helps in identifying opportunities for upselling and cross-selling.
10 Ways to Boost Your Store's Average Order Value
1. Use Appealing Design for Your Product Pages
Investing in visually compelling product pages can significantly impact AOV. High-quality images, interactive elements, and clear product descriptions create an engaging shopping experience. This entices customers to explore more products and make higher-value purchases. For more tips on enhancing Shopify store design, refer to “20 Tips for Turning Your Shopify Store into a Conversion Powerhouse.”
2. Highlight Trending Products
By prominently featuring trending or popular products on your store’s homepage or category pages, you can capture the attention of customers and encourage them to add these sought-after items to their carts. This can lead to an increase in the overall AOV as customers may be inclined to purchase more than just the featured products.
3. Personalise Shopping Experience
Implementing personalised product recommendations based on customer browsing history and purchase behaviour can effectively drive higher-value transactions. By showcasing relevant products to individual customers, you can enhance their shopping experience and encourage them to add complementary or higher-priced items to their orders. For insights on optimising user experience, refer to “Boost Your Shopify User Experience with These Tips.”
4. Establish a Minimum Order Value for Free Shipping or a Discount
Setting a minimum order value for free shipping or offering a discount on orders above a certain threshold can motivate customers to add more items to their carts in order to qualify for the incentive. This strategy not only increases AOV but also encourages repeat purchases as customers strive to reach the minimum threshold.
5. Create Special New Customer Offers
Attracting new customers with exclusive offers such as welcome discounts or bundled deals can lead to larger initial purchases, thereby elevating the AOV for first-time buyers. By providing compelling incentives, you can lay the foundation for long-term customer relationships and higher AOV over time.
6. Give Out Gift Cards & Coupons
Offering gift cards or coupons as part of promotions or loyalty programs can encourage customers to spend more in order to redeem the value of the gift card or coupon. This can lead to higher AOV as customers may be inclined to make additional purchases beyond the gift card amount.
7. Make Time-Sensitive Offers
Creating urgency through time-sensitive offers, such as limited-time discounts or exclusive deals, can prompt customers to make quicker purchasing decisions and potentially add more items to their orders. Time-sensitive offers can drive impulse purchases and contribute to an increase in AOV during promotional periods.
8. Upsell or Cross-Sell Complementary Products
Utilise product recommendations and strategically placed upsell/cross-sell prompts to suggest complementary or upgraded products to customers during the checkout process. By showcasing relevant add-on items, you can enhance the value of each transaction and boost overall AOV.
9. Offer “Subscribe & Save” Subscriptions
Introducing subscription options for products can lead to recurring revenue and higher AOV. By incentivising customers to subscribe with cost savings or exclusive benefits, you can secure long-term commitments and increase the average value of each purchase through recurring orders.
10. Bundle Products
Creating product bundles or packages that offer a combined value at a discounted price can encourage customers to purchase multiple items together, thereby increasing the overall order value. Bundling related products or creating themed bundles can entice customers to explore additional offerings and make larger purchases.
Conclusion
Incorporating these techniques into your Shopify store can yield tangible results in terms of increasing the Average Order Value, ultimately contributing to enhanced revenue and profitability. As you implement these strategies, it’s crucial to monitor the impact on AOV and make adjustments based on customer response.
At Vsourz, we specialise in Shopify development and optimisation, helping businesses maximise their ecommerce potential. As a Shopify Partner, our expertise in creating visually appealing, high-converting websites can assist you in implementing these AOV-boosting techniques effectively. By partnering with Vsourz, you can elevate your Shopify store’s performance and drive sustainable growth through increased AOV. Get in touch to hire Shopify developers.
