15 Critical Ecommerce Metrics You Must Track in 2022
E-commerce metrics are the foremost part of your business. E-commerce metrics are your overall days and analytics of the business which show the growth and diminishes of your business.
Keeping an eye on all your e-commerce metrics helps you to know how you’re doing in your business and what changes are required in your business. It also assists you to make your next technique and strategies for your business.
So, let’s understand in this blog what are some important metrics you must track in 2022
Keep tracking these 15 metrics in 2022
Sales are the most important and common metric that everyone must track. It shows you how many sales you are making on your e-commerce website.
Always keep an eye on and track your e-commerce business conversion rate. It is the number of people who have completed the purchasing work out of the total number of people who visited your website.
Average order value
Average order value is another important metric to track. The average money that your customers spend on your product is known as an AOV of your business.
Customer lifetime value
Customer lifetime value is the total amount that you earn from every single customer since they have a login to your website.
Customer acquisition costs
If we need to explain your Customer acquisition cost then we can say your customer acquisition cost is the average cost that you invest in getting a single client. It is a very essential metric or KPI to track in your business.
Sales abandonment rate
Track the number of people who abandon purchasing products after putting them into their carts. It helps you to make your further plan and strategy to increase the sale on your websites.
Customer returning rate
Customer returning rate is another important factor or metric that you should track. Analyze how many of your customers are returning your products after ordering and why they are doing the same.
Bounce rate is the volume or amount of community who visited your website and left without making any purchase on your website. Every E-commerce business must track its bounce rate to avoid losses.
It is a very outstanding and prominent metric to track. It is the number of clicks you get on your marketing ads, posts, or websites on your website.
You must also track your e-commerce website traffic source. So, you may recognize where the traffic is coming from on your website? And you can utilize the information to formulate further campaigns.
Keep an eye on the devices on which your website is mostly used. It will help you to enhance the UI and UX of that particular device so that you can generate more leads through the particular devices.
Find the location where most of your users actively purchase your products. It is actually a very common metric that every e-commerce user tracks.
Top selling products
Track your most selling products. It will help you to understand which types of products and stocks your users are interested in. Indeed you’ll be able to increase the stock of such products.
Stock products are those products that have not been sold yet and are in stock to sell. Always look at those products you have in stock.
Average inventory sold rate
The average inventory sold rate is the number of product variants that are sold every day. It is necessary to calculate your everyday inventory sold rate to estimate the growth of your business.
So, these were some e-commerce metrics that you must track in your eCommerce journey to enhance and unfold new possibilities for your business.
Apart from these metrics and KPIs, there are many more things that you need to focus on while managing an e-commerce website.