Key Performance Indicators (KPIs)
What are KPIs in eCommerce?
Key Performance Indicators (KPIs) are measurable metrics used to evaluate the performance of an eCommerce business. They help retailers track success, identify opportunities, and make data-driven decisions. KPIs include metrics like conversion rate, average order value, cart abandonment rate, and customer retention rate.
KPIs in Fashion eCommerce
Fashion retailers use KPIs to monitor both business performance and customer behavior. Analytics dashboards allow brands to track key metrics, including sales, traffic, engagement, and inventory performance. Monitoring KPIs helps brands optimize marketing, merchandising, and operational strategies for growth.
Which KPIs Should Fashion Retailers Track?
- Sales metrics: Revenue, average order value (AOV), units sold.
- Conversion metrics: Conversion rate, checkout completion, abandoned cart rate.
- Customer metrics: Retention rate, repeat purchase rate, lifetime value (CLV).
- Traffic metrics: Sessions, bounce rate, page views.
- Operational metrics: Inventory turnover, fulfillment accuracy, return rates.
Why KPIs Matter?
- Provide actionable insights to improve performance.
- Enable data-driven decisions for marketing, merchandising, and operations.
- Track progress toward business goals.
- Identify areas for improvement to increase revenue and customer satisfaction.