One of our favorite ways to analyze e-commerce conversion rates is to look at the Average Order Value (AOV). It’s one of the top key performance indicators (KPIs) for online retailers.
A simple AOC calculation is:
Sum of Revenue Generated / Number of Orders Taken = Average Order Value.
IBM’s Coremetrics company anonymously aggregates Web analytics data for industry benchmarking and releases a report for Black Friday sales data.
In the Black Friday Report 2010, the average order value (AOV) increased from $170.19 (2009) to $190.80 (2010) for an impressive 12.1% increase.
You could conjecture macroeconomic trends from such an increase, but for Web analysts this benchmarking data is an important comparison tool for measuring your own company’s success.
The Coremetrics Black Friday Report is ripe with interesting aggregated e-commerce datasets from the following metrics.