One way to grow your online store’s revenue is to increase the average order value (AOV). AOV is an important key performance indicator all ecommerce websites should be following.
Three strategies to increase AOV include:
#1 Offering free shipping over X order amount. This is a psychological one! I’m sure you have been shopping online and added an extra product or two to your basket because it meant you qualified for free delivery. Everyone loves a free delivery rate!
#2 Bundle your products. Works well for skincare, haircare and beauty brands (as well as many more niches). For example – bundle together a cleanser, serum and moisturizer as one product. Sell at a discounted price to what all 3 individually would cost. This encourages customers to buy all 3 at once.
#3 Offer product upgrades. Show customers what products are frequently bought together (works well for large catalogue stores because customers won’t be aware of the full product range). Offer product upgrades (show customers a more premium version of what they have in their cart). Highlight the benefits of the upgrade.
Be mindful and helpful with these. Don’t hard sell or deceive.