With Google Analytics Ecommerce tracking set up for your online store, you can correlate sales data with website data such as sessions, traffic source/medium and landing pages. This post explains the important Ecommerce metrics in Google Analytics that can help you make smart, data-driven decisions for your online business.
Metrics listed in Ecommerce Overview Report
1. Ecommerce Conversion Rate: The percentage of sessions (site visits) that result in ecommerce transactions.
Ecommerce conversion rate = (Total ECommerce Transactions/Total Website Sessions) * 100
2. Transactions: A purchase order on an online store. Each transaction is identified through a unique ID known as Transaction ID. A single transaction can include several products or several units of the same product.
3. Revenue: This specifies the total revenue or grand total associated with the transactions over a specific period of time. This value may include shipping, tax costs, or other adjustments to total revenue that you want to include as part of your revenue calculations. If your client decided to exclude tax and shipping amount from the total revenue, then your total revenue and product revenue amount would be the same.
4. Average Order Value: The average value of an ecommerce transaction.
Average Order Value= Total Revenue/Total Transactions
5. Unique Purchases: The total number of times a product or a set of products was a part of a transaction. It is important to note that the total unique purchases of a product is not equal to total number of units sold for the product in one transaction.
6. Quantity: The total number of units sold for a product or set of products.
Metrics Listed in Product Performance Report
1. Average Quantity: The average number of units sold for a product or set of products in one transaction.
2. Product Revenue: The total revenue generated from a product or a set of products.
3. Average Price: The price of a single unit of a product, or a set of products.
Average price of a set of products = Total Product Revenue / Total Quantity
4. Cart-to-detail Rate: The number of products added to the cart per number of product-detail views. Through this metric, you can see what products are more likely to be added to the cart after users have read through the product details.
5. Buy-to-detail Rate: The number of products purchased per number of product-detail views. This metric answers the question, “What products are shoppers most likely to purchase after looking at the product details?”
Metrics that determine the Channels driving Revenue
1. Per Session Value: The average value of a session on your e-commerce website. This metric is especially useful when comparing performance by source or channel. It shows the revenue generated per user session.
Per session value = Total Revenue / Total Sessions
Are there any other important metrics that you track for your store? Let us know in the comments below.