9 key indicators to follow to manage your store

Managing an e-commerce store can be challenging, as there are many different factors to consider. However, by keeping an eye on a few key indicators, you can gain a better understanding of your store’s performance and make more informed decisions. Here are 9 key indicators to follow to manage your e-commerce store:

Traffic: Keeping track of the number of visitors to your website is crucial, as it gives you an idea of the reach and visibility of your store. This can be measured using tools like Google Analytics.

Conversion rate: Your conversion rate is the percentage of visitors to your website that make a purchase. This is a key indicator of the effectiveness of your website’s design and checkout process.

Average order value: This metric measures the average amount that customers spend on each order. It can be used to identify opportunities to increase sales and revenue.

Cart abandonment rate: This metric measures the percentage of visitors who add items to their cart but do not complete the purchase. It can be used to identify and address issues with the checkout process.

Repeat customer rate: This metric measures the percentage of customers who make multiple purchases on your store. Repeat customers are a valuable source of revenue, so this is an important indicator to track.

Gross margin: This metric measures the difference between the cost of goods sold and the revenue generated by those goods. It can be used to identify opportunities to increase profitability.

Return rate: This metric measures the percentage of customers who return products. High return rates can indicate issues with product quality or customer satisfaction.

Customer lifetime value: This metric measures the total revenue generated by a customer over the course of their lifetime. This can be used to identify and target high-value customers.

Net promoter score: This metric measures customer satisfaction and loyalty. It can be used to identify areas of improvement in customer service and support.

By keeping an eye on these key indicators, you can gain a better understanding of your store’s performance and make more informed decisions about how to improve it. However, it’s important to keep in mind that these metrics should be viewed in context and in relation to one another, as well as in relation to your store’s goals.