A part of running an online business to success is setting relevant ecommerce key performance indicators (KPIs). They help you understand how well your store is performing and identify areas that can be improved.

The average order value is an important KPI to track. It is the average dollar amount consumers spend per checkout. To set a realistic benchmark, you need to know what the standard is in your niche. Here’s a breakdown of the average order value by industry for a clearer picture.

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Average order value by industry: top five

A recent study of the average order value by industry shows that as of November 2022, luxury and jewelry has the highest average order value across all industries. At $182, it marks a $49 dip from the previous month, when its average order value hit $231. This was also the industry’s highest average order value so far in 2022.

Second on the list analyzing the average order value by industry is multi-brand retail. The sector registered an average value of $139 per order, $18 more than the previous month. This is followed by the fashion, accessories, and apparel industry, whose average order value fell marginally from $128 in October to $126 in November.

Fourth and fifth on the ranking of the average order value by industry are consumer goods and food and beverage, with average orders worth $112 and $109, respectively. 

These five industries are also the only ones whose average order values in November 2022 exceeded $100. Of the top five, two (multi-brand retail and food and beverage) increased their average order values month on month.

Average order value by industry: beauty, pet care, and home

Sixth on the list studying the average order value by industry is beauty and personal care, with $75. This is $6 more than the previous month, and also the sector’s highest in 2022. 

The pet care and veterinary services industry follows, with $71, holding steady from October. The sector with the lowest average order value is home and furniture. At $37, it’s a $3 monthly increase, but $11 less than the year’s peak of $48, which came in March.

To increase your store’s average order value, consider establishing a minimum checkout amount to qualify for free shipping, and setting bundle deals. 

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