Increasing the profit of online eCommerce store is the significant goal of business owner. Normally, it can be achieved by increasing the average order value which automatically increases the purchase frequency. Average Order Value is the total revenue divided by the customer’s total number of orders.
Here are the few tactics to increase the customer’s AOV (Average Order Value)
Buyers will not be interested to browse more and identify their actual requirement, they only search for what they want to purchase this leads to smaller carts and minimal average order value. Showing suggestion in the product / checkout page leads to fill the customer’s cart. Instead of showing the popular products, suggesting the products that are more relevant for the customers search will lead to increase average order value.
Free Delivery offers with limitations
Maximizing the average order value can also be attained by providing the free shipping offers. Research says that 40% of customers are willing to buy more items if they qualify for free shipping. In this case few tricks can be used like, free shipping should be only provided for orders that exceeds the AOV or else the additional shipping charge could reduce total revenue.
Create Packages or product bundles
Product bundles with discounted price are the smartest way of increasing the sales of products. By offering complementary products with main product at discounted price makes the buyers to think about savings. This makes the customer to enjoy the shopping and leads to maximize customer retention. Importantly, it increases the average order value.
These are just a few ways to increase the average order value of online store. Do you want to increase the AOV? Interested to implement the strategies on your ecommerce website? Contact us for an ecommerce solution with implementation of these strategical features.