If you don’t know why AOV is one of the most important metrics in eCommerce, take a look at this simple example:
1,000 units at $50 AOV = $50,000 sales
1,000 units at $100 AOV = $100,000 sales
To increase AOV you could just increase your price, but for most businesses, there’s something called competition where your customers will go if your price is too high. The online segment of Best Buy’s business is in one of the most competitive industries on the internet, competing with companies like Amazon and Walmart’s online store. Increasing price isn’t an option if Best Buy wants to stay competitive and true to their unbeatable price offer.
Most eCommerce companies increase AOV by using product recommendation widgets on the bottom of their eCommerce product pages that say things ...