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Increasing revenue is atop every e-commerce site’s priority list. However, the question is, “how to increase revenue?”
The simple answer is to sell more. While selling more is a good way to increase revenue, it’s not the most practical. The cost of customer acquisition and marketing can quickly drain profit margins. As a result, there has to be a better way to ensure revenue growth without spending more.
The answer is to increase average order value.
In this article, we’re going to explore what average order value is and how you can increase it to boost revenue growth. We are also going to look at the twelve best Shopify apps to increase average order value in 2023.
So, let’s get on with it!
Average order value (AOV) refers to the average amount each customer spends on your e-commerce site. AOV is used to measure how much each customer is worth in terms of how much they spend. Naturally, the more a customer spends, the more valuable they become to your business.
Also, AOV is a useful metric to measure your Shopify store’s performance. You can tell your store is performing well when you notice your AOV steadily climbing. In contrast, a falling AOV means something is keeping customers from spending more per purchase.
Please note the AOV can help take your e-commerce site to the next level. So, it’s crucial to ensure that you keep this metric in mind as you plan your sales and marketing efforts.
Calculating AOV is pretty straightforward.
Let’s take a look at this example:
ABC Store sold $1,000 in an hour. The site registered a total number of 5 transactions. Thus, we have $1,000 / 5 = $200. In this example, the store’s AOV is $200.
Now, let’s incorporate some changes.
ABC Store sold $1,200 in an hour. The site registered a total of 5 transactions. Thus, we have $1,200 / 5 = $240. As you can see, the site’s AOV has now jumped to $240.
How so?
Sales increased in dollar amounts. But the number of transactions remained the same. As a result, the AOV in this period climbed by $40.
Now, let’s consider this situation:
ABC Store sold $800 in an hour. The site registered a total of 5 transactions. Thus, we have $800 / 5 = $160. As you can see, the site’s AOV has now dropped to $160 from the original $200. This situation highlights how AOV can drop even when the number of transactions stays the same.
The key lies in how much customers spend per transaction. You don’t need to increase the number of transactions. You need to increase the number of sales per period.
AOV is a critical component of your online store’s success. Here are three compelling reasons why Shopify AOV is critical for your e-commerce site’s success:
Customer acquisition is expensive. It’s always much more expensive to find new customers than to sell to existing ones. It’s always much more cost-effective to upsell and cross-sell your current customers since they already know your products and value proposition. You don’t need to spend nearly as much money as it would promoting to new customers.
Keep costs in check. Upselling and cross-selling are like doing more with less. When you can upsell your existing customers, you can keep your costs in check. In other words, you can do a lot more with a lot less by focusing on increasing your Shopify store’s AOV.
Clear your inventory. One of the worst things any e-commerce site can go through is growing inventory. Boosting your AOV helps keep your inventory moving. Consequently, you can keep costs in check by keeping your inventory in check.
Here’s a secret to boosting your Shopify AOV: use automated apps! Apps can help boost your AOV by offering promotions and offers such as:
Traditional e-commerce platforms require coding to incorporate changes such as these into your Shopify store.
Well, not anymore. Shopify AOV apps can take care of the heavy lifting for you. But how can you find the best Shopify AOV apps?
There are five questions you must consider:
Answering these questions will help you figure out the best Shopify AOV App.
App Name | PRICe | Free Trial | Number of Reviews | rating | Support |
---|---|---|---|---|---|
Free to install | 7 days | 346 | 4.8 | Email, live chat, video call | |
$19.99/month | 7 days | 125 | 4.8 | ||
$12.49/month | 14 days | 708 | 4.9 | ||
$12.99/month | 10 days | 333 | 4.9 | ||
$15/month | Free plan available | 5 | 5.0 | ||
Free | N/A | 101 | 5.0 | ||
$19.99/month | 30 days | 833 | 4.9 | Email, live chat | |
$9/month | Free plan available | 540 | 4.9 | ||
$4.99/month | 30 days | 3480 | 4.9 | ||
$6.99/month | 30 days | 482 | 5.0 | Email, live chat, video call | |
Free | N/A | 230 | 4.9 | ||
$16/month | N/A | 302 | 4.8 |
PickyStory’s platform has a suite of tools designed specifically to increase your average order value. PickyStory allows you to take any product in your store, and add an upsell deal to that product (either displayed on the page or as a popup). You can also use PickyStory to create mix-and-match deals that encourage customers to add more products to their cart.
Another powerful feature to increase your AOV is the ability to sell bundles as products. These can be added to your collections and look like regular products, except that they are made up of multiple SKUs. Customers see the bundle, appreciate the ease of adding several products at once, and your AOV increases instantly.
Why do we love this Shopify app to increase AOV?
BoxBuilder: DIY Product Bundle by StayTuned is a Shopify app for AOV you want to keep on your radar. This great app allows you to create bespoke product bundles and gift boxes. Boost your revenue by kickstarting AOV through unlimited customizations.
You have total control over everything your site needs: the number of products to be added, discount tiers, messaging, branding, and much more.
Why do we love this Shopify app to increase AOV?
Bundle Products | Upsell by WebContrive Technologies Pvt Ltd is a great Shopify app for AOV that you definitely want to check out. Increase your e-commerce site’s AOV by creating product combos, variants, bundles, and mix-and-match offers.
Engage your customers with killer promos and offer that are sure to keep them coming back for more. Keep your product combos and bundles fresh with this great Shopify app for AOV.
Why do we love this Shopify app to increase AOV?
Cart Upsell+Free Gifts Monster by Monster Upsells is a wonderful Shopify app for AOV that is sure to pique your interest. This awesome app allows you to create a slide cart drawer that increases your e-commerce site’s AOV.
Plus, you can customize your cart to include progress bars, free gifts, frequently bought-together items, shipping protection, discounts, and bundles. You can easily upsell your customers with this amazing Shopify app for AOV.
Why do we love this Shopify app to increase AOV?
Crophike – AOV Boost & Rewards by OneRetain is one of the best Shopify apps for AOV on our list. Increase your e-commerce site’s AOV by rewarding your customers.
This intuitive system allows you to create rewards your customers want to get. You can automate your rewards programs based on specific criteria customers must meet. Once they hit the targets, your customers reap their rewards.
Why do we love this Shopify app to increase AOV?
Essential Free Shipping Bar by Essentials is a great free Shopify app for AOV. Boost your e-commerce site’s AOV by showing a free shipping progress bar. You can display an unlimited number of free shipping bars to boost AOV.
Set various goals to entice customers to add more items to their carts. You can set goals for free shipping, discount codes, or any other promotions. Use this awesome free shipping bar to take your e-commerce site to the next level.
Why do we love this Shopify app to increase AOV?
In Cart Upsell & Cross Sell by In Cart Upsell is another one of the best Shopify apps for AOV. This great app allows you to use the power of popups to upsell customers. Use killer offers on product pages and cart to kickstart AOV.
Make it easy for customers to add more products when they have already gone to checkout. This app simplifies adding more products to the cart leading to increased AOV.
Why do we love this Shopify app to increase AOV?
ModeMagic – Store Conversions by Mason is an all-in-one sales engine that allows you to convert sales faster than ever. Increase your AOV by boosting conversions leading to more repeat business.
This great Shopify app for AOV provides highly used analytics and reporting to help you get the most out of your sales and marketing efforts.
Why do we love this Shopify app to increase AOV?
ReConvert Upsell & Cross-sell by ReConvert makes the list of the best Shopify apps for AOV by upselling and cross-selling customers. Use the power of a thank-you upsell and cross-sell page to get customers to spend more.
One-click upselling and cross-selling features enable you to keep your e-commerce site’s AOV growing. This great app uses special offers for birthdays, special occasions, and thank-you promotions.
Why do we love this Shopify app to increase AOV?
Upsell & Bundle Products by Assortion is a wonderful free Shopify app for AOV that is sure to top your list. Increase your AOV by using frequently bought-together suggestions. Cross-sell your customers by using discounts and post-purchase offers. You get the best offers on the market by using this awesome app.
Why do we love this Shopify app to increase AOV?
Upsell & Cross Sell – Selleasy by LogBase is on the list of best Shopify apps for AOV, thanks to its one-click upsell and cross-sell features. Use product add-ons to boost AOV. Increase conversion rates and AOV by prompting customers to add more products. Get multi-language and multi-currency support with this killer app for AOV.
Why do we love this Shopify app to increase AOV?
Wide Bundles by mat de Sousa makes our list of the best Shopify apps for AOV due to its powerful ability to create product variants and bundles. Build cool offers to increase AOV. Use BOGO, bundles, combos, and special offers to upsell customers.
This great app streamlines the purchase process to make upselling that much easier. Get the most out of your Shopify store with this great app.
Why do we love this Shopify app to increase AOV?
Use PickyStory to increase your average order value and your store’s overall revenue. With PickyStory, you can create a variety of deals and discounts to encourage your customers to purchase more, each time they visit your store.
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