17 Ecommerce Metrics Shopify Store Owners Need to Track | MESA Blog

The best business owners know the importance of data. Metrics provide a clear picture of performance and deliver key insights that are crucial to growth.

Analyzing key ecommerce metrics tied to brand revenue, credibility, and customer base expansion means smarter, data-backed moves, and more revenue.

But which metrics should you track? Which are the most important?

Here’s a list of the most important ecommerce metrics to track for your Shopify store so you’ll always know how your store is performing.

Let’s dive in.

Website Performance Metrics

You need to track certain ecommerce metrics to monitor your online store’s overall performance.

1. Website Traffic

This metric represents the volume of users who visit your online store in a given period. Website traffic is measured as “sessions.”

How much traffic you receive is a measure of the effectiveness of your marketing strategy. For example, a dip in your website traffic after a campaign launch could indicate that the campaign wasn’t as successful as you hoped.

While there are several ways you can drive traffic to your Shopify store through channels like social media, paid search, SEO, content marketing, and more, what’s key is driving the right traffic to your site.

Focus on driving high-quality traffic.

2. Bounce Rate

Bounce rate is the percentage of users that land on your website and leave (or “bounce”) after viewing just one page. The shorter the amount of time people spend on your website, the higher your bounce rate.

To keep people browsing on your Shopify store, you can:

• Improve your website design. Ensure that your website design is attractive, easy to navigate, and most importantly, responsive on mobile devices.
• Create a more personalized experience. Use live chat software and product recommendation plugins to guide visitors to relevant products.
• Speed up your ecommerce website. Speed is a non-negotiable in ecommerce these days.
• Streamline your shopping experience. Fixing hiccups in your shopping experience is important for improving your bounce rate.

3. Average Session Duration

Average session duration is the average time a visitor spends on your store in a single visit. This ecommerce metric helps gauge dwell time.

4. Pages Per Session

Pages per session illustrate the number of web pages a user viewed in a single visit. This metric helps you gauge how interested your audience is in a certain product or page on your site.

5. New vs. Returning Users

New vs. returning users analytics allow you to compare the number of new website visitors against returning users. This metric illustrates the most effective traffic channels.

How to View Your Website Performance Metrics

Check your Shopify store’s website performance metrics by following these steps:

1. Log in to your Shopify account
2. Navigate to the Analytics tab

Conversion Metrics

Driving traffic to your ecommerce website is just the first step. The next is to get those visitors to convert. Here are the conversion metrics you should be tracking.

6. Web Conversion Rate

Your Shopify conversion rate is the percentage of web visitors who took the desired actions on your online store.

7. Average Order Value

The average order value (AOV) is the amount a customer spends on purchases from your website.

8. Cart Abandonment Rate

Shopping cart abandonment is another essential metric to track.

9. Customer Acquisition Cost (CAC)

Customer Acquisition Cost is the amount you spend to acquire a customer.

10. Email Opt-in Rate

Email sign-up rate is the measure of new website visitors who subscribe to your email list.

11. Email Click-Through Rate

The email click-through rate is the percentage of email subscribers that open your email and click on hyperlinks within the email texts.

12. Email Unsubscribe Rate

The average email unsubscribe rate is 0.1%. If you discover that you have a high unsubscribe rate, you’ll want to evaluate your email marketing strategy.

Customer Experience Metrics

Customer satisfaction is vital to the success of your ecommerce business.

13. Customer Retention Rate

Customer retention rate is the percentage of repeat buyers your business can maintain over a period.

14. Customer Lifetime Value (CLV)

Customer lifetime value is the amount you expect an existing customer to spend on your business during their time as a customer.

15. Net Promoter Score

Net Promoter Score (NPS) is a customer satisfaction measurement in which customers fill a survey form to rate their satisfaction and likelihood of recommending a brand.

16. Return Rate

Shoppers returned products worth over $428 billion in 2020.

Revenue Metrics

Here are the most critical revenue metrics you should evaluate:

17. Total Sales

The total sales or revenue your Shopify store generates is the amount of income you get from selling your products to customers within a period.

18. Revenue Per Traffic Source

This ecommerce metric represents the amount you generate per traffic source.

19. Gross Profit Margin

The gross profit margin is the amount of revenue you’re left with after subtracting the cost of goods sold.

20. Net Profit Margin

Your net profit margin is the percentage of net profit your online store generates.

Ecommerce Metrics: What to Do Next

Now that you know the most important ecommerce metrics to track for your store, it’s time to get clear on what’s working and what’s not with your store and marketing strategy.