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Average Order Value (AOV)
Average order value (AOV) is the same metric as average order value, expressed as a widely used abbreviation. It is calculated by dividing total revenue by the number of transactions over a period of time.
AOV is often used alongside metrics like conversion rate and customer lifetime value to measure overall performance. For example, increasing AOV from $50 to $60 through targeted upsells can significantly lift revenue without requiring new customers.
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Average Order Value (AOV)
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Average order value is the average amount of money customers spend per transaction.
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