The average shopping cart value, also known as the Average Order Value, is one of the most important metrics of an online store. What it essentially does is to show us how much money each customer spends on the e-shop. Ideally, we want this number to grow as it means that with the same amount of customers, we get more revenue!
Calculate the average shopping cart
First, let’s calculate the current average shopping cart. To do this, all we need to do is to look at how many orders we have achieved within the selected period (i.e. within the last year) and what the total turnover was. Suppose we made 200 orders and had a total turnover of € 15,000. In this case, the AOV will be 15,000 € / 200 = 75 € (here you go, the average basket value is 75 €).
If you want to find the above numbers in your WooCommerce store you only have to go to the dashboard and navigate to WooCommerce -> Reports from the menu. There you can find all the data you need to do the above calculation and find the AOV.
How can we increase the average shopping cart?
Okay, now that we have found the current average shopping cart, our problem is how can we increase it! Fortunately, WooCommerce offers us a range of features to apply and some marketing tricks to persuade online store visitors to buy more on each visit. Below are 8 ways we can do this.
8 ways to increase your average shopping cart
1. Featured Products
WooCommerce offers by default two very nice options for related products: cross-sells products and up-sells products. If you do not already use these options, stop doing so and go to your online store to activate them!
Beyond that, there are several more complex functionalities in terms of product proposition. A very interesting thing is to show users products that other users usually buy along with that product they are looking at now or have put in their cart.
2. Product Bundles
Bundles are essentially product packages. In this way, instead of purchasing individual products, the user may purchase a bundle containing 4-5 products. Apparently … at a better price than if he bought them individually. Otherwise there will be no incentive to do so and the energy will not work.
3. Quantitative discounts
Quantitative discounts are one of the most successful ways to buy more products in one market. This is also one of the most classic techniques used by super markets. You will surely have seen offers like “Buy 3 for 2” or “In 2 Pieces, the Second Half Price”. So, the user will not only get a piece of the product they want, but possibly more.
4. Checkout Deals
Checkout deals are offers or suggestions made on the Checkout page. In fact, it is the equivalent of fast food, where after you have placed your order, you are asked if you want potatoes, soft drinks, etc. Such suggestions could be either selected products or an on-top service for the products the user bought (ex. an extra warranty).
The wishlist is a feature that allows users to store products they like, to remember in the future. Although it would appear that this will reduce the AOV, as users refer markets for the future and not for the present, Wishlist seems to be doing well. This is because the user tends to put something on his wishlist to order along with the other products he has chosen to buy.
6. Loyalty Programs
Loyalty programs are one of the most efficient ways to maintain an existing clientele. Consumers, because of they accumulate points and look for a gift, tend to go back to the same business rather than to some competitors.
At the same time, loyalty programs can also have a positive effect on increasing the average shopping cart. How is it possible? Consumers will think less about putting another product in their basket, because they will have in mind to collect points. “I may not be sure if I want it, but at least I get the points and get closer to the gift.”
In addition, a number of incentives can be implemented in the loyalty program to make consumers buy more. For example, if the store’s average basket is estimated at € 70, the business may choose to give +10 gift points for purchases totaling € 80 or more. Someone who has made up to 70 € will still find something to buy to go for 80 € and get extra points.
7. One time offers
One time offers are one time offers only (duh!). For example, only for now and for the next 15 minutes you can buy this amazing product at 50% off. If it is accompanied by a countdown timer, the user will be in a hurry not to lose the bid. Since, of course, this is an attractive product and an interesting offer.
8. Gift Cards
Happy customers are more likely to buy gift cards for their friends or relatives so they can visit the store and buy something they like. They may not immediately increase the average shopping cart because it is essentially a new sale (and on occasion – a birthday, anniversary, etc.), but they have two excellent facts:
- It is very difficult to buy things for exactly the amount of gift card. For example, if the gift card is worth 100 €, one will definitely end up with 105 € or more purchases.
- There is a part of the world that does not cash out gift cards! He forgets them, he is undecided, he loses them, etc. Free money!
Almost all of the above ideas can be applied to your WooCommerce store either by using a plugin or by writing some code. The results that can bring to your store, if implemented intelligently and correctly, can be very important!
If you want more ideas on how to increase your WooCommerce store sales, here you can find 5 + 1 more!