The average purchase ticket in the world of e-commerce is a very interesting metric that we should all know about. The average purchase value of a customer in an online store is the average value of their shopping cart.
Calculating the average purchase ticket is very simple, we just need to know the benefit obtained by the total sales made in a specific period of time and divide it by the total number of transactions made. In this way, we will know our customers’ average shopping cart value.
What is the purpose of calculating the average purchase ticket?
Average purchase ticket is a KPI that will help us establish different sales strategies.
- We can establish diagnoses and projections for our online business
- It is a thermometer that tells the degree of store sales on our website.
- Sales argument for commercial businesses
In addition to the aforementioned, it also serves to increase the average value that our customers spend. By identifying this metric, we can establish actions that will help our customers and us equally.
How to increase the average purchase ticket?
To increase the average purchase ticket, we must increase the budget of our e-commerce store, which will ensure that our customers spend more money when they make a purchase. But how do we get customers to spend more money on each purchase order? This is where marketing actions for e-commerce come into play.
Also Read: Key Dates For Your Ecommerce Calendar
Factors that will help increase the average purchase ticket
First of all, let’s review some factors that are important for an increase in the average purchase ticket:
- Increase the price of products
- Increase the number of products per ticket (UPT)
Actions to increase the e-commerce purchase ticket
As we mentioned before, you can increase the price of the products as part of your marketing technique, though it is not advisable since it can create problems with your e-commerce pricing policy. Therefore, the best option is to get customers to buy more products per order.
How to get customers to buy more products:
- Cross and directed sales. Sales of similar or complementary products will help increase the number of products per ticket and therefore the total value of the purchase. To increase the number of products, we can help you with cross-selling and up-selling techniques.
Example: A person selling sportswear should also offer sports accessories. In this way, the customer looking for jogging pants can also consider buying a treadmill.
- Product packs. Offer several similar products in an already prepared pack. This is a surefire way to increase the value of the ticket. To make the pack more attractive, it is advisable to give your customers a promotion/discount/incentive.
- Free shipping with x quantity. Offer your customers free shipping when they buy a certain number of products from your store. Free shipping is a cost-efficient benefit for both you and the customer. The price that we stipulate for free shipping must be reasonable because if it’s a very high figure, then there is a chance that people won’t buy your product. The customer will add another product to their shopping cart as long as it does not involve a great effort.
- Quantity discount. Discounts of traditional commerce can be applied to online businesses since this is what e-commerce stores are all about these days. Discounts are a brilliant way to increase purchase volume since your customers want lower prices and more products. In this way, you can encourage the customer to buy more quantities of the same product. This technique can be applied whenever your product catalog has something new to offer.
Another type of techniques to increase the purchase order is with promotional marketing such as coupons or gifts. This can be an extra cost for the company, so try this only when you’re launching a big sale. The techniques we have seen are actions that should be established continuously not only because they work but also because they do not involve a great cost to the business.