Top eCommerce Metrics You Should Be Tracking

Running an eCommerce store can be a challenging task, especially when you are trying to grow your business and increase your sales. One of the key aspects of running a successful online store is tracking the right metrics to understand how your store is performing and where you can make improvements. In this blog post, we will discuss some of the top eCommerce metrics that you should be tracking using StoreMantis, a powerful online store builder.

Sales Conversion Rate

The sales conversion rate is one of the most important metrics to track for any eCommerce store. This metric tells you the percentage of visitors who make a purchase on your site. By tracking your sales conversion rate, you can identify how effective your website is at turning visitors into customers. You can use this data to optimize your website and marketing strategies to increase your conversion rate.

Customer Acquisition Cost

Customer acquisition cost (CAC) is another crucial metric for eCommerce stores. This metric calculates how much it costs you to acquire a new customer. By tracking your CAC, you can determine the effectiveness of your marketing campaigns and make informed decisions about where to allocate your marketing budget. Lowering your CAC can help improve your store's profitability.

Cart Abandonment Rate

Cart abandonment rate is the percentage of visitors who add items to their shopping cart but leave your site without completing the purchase. Understanding why customers abandon their carts can help you identify friction points in your checkout process and make necessary improvements to reduce cart abandonment. By tracking and analyzing your cart abandonment rate, you can increase your store's conversion rate and revenue.

Average Order Value

The average order value (AOV) is the average amount of money a customer spends per transaction on your site. By tracking your AOV, you can identify ways to increase the value of each transaction, such as upselling or offering discounts for larger purchases. Increasing your AOV can help boost your store's revenue and profitability.

Customer Retention Rate

Customer retention rate is a metric that measures the percentage of customers who make repeat purchases from your store. Retaining existing customers is more cost-effective than acquiring new customers, so it is important to track your customer retention rate and implement strategies to increase customer loyalty. By focusing on retaining customers, you can drive repeat sales and grow your store's revenue over time.

Inventory Turnover Rate

Inventory turnover rate is a metric that calculates how quickly you sell your inventory within a specific period. Tracking your inventory turnover rate can help you manage your stock levels efficiently and avoid overstocking or understocking products. By optimizing your inventory turnover rate, you can improve cash flow and reduce storage costs.

Website Traffic and Conversion Source

Tracking your website traffic and conversion sources is essential for understanding where your customers are coming from and which marketing channels are driving the most traffic and sales. By analyzing your website traffic and conversion sources, you can determine which marketing channels are most effective and allocate your resources accordingly to maximize your store's growth.

By tracking these key eCommerce metrics using StoreMantis, you can gain valuable insights into how your online store is performing and make data-driven decisions to optimize your store for success. With features like store management, order processing, shopping cart and checkout, responsive design, themes and customization, specialized mobile website, and easy management with a mobile app available for iOS and Android, StoreMantis provides all the tools you need to build a beautiful online store and track important metrics for growth.