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 December 2023, home and furniture has the highest average order value across all sectors. At $217, it marks a 13.9% decrease from the previous month, when its average order value registered at $252. 

Second on the list analyzing the average order value by industry is luxury and jewelry. The sector registered an average value of $162 per order. Unlike the home and furniture industry, this represents a rise from the previous month. This is followed by the fashion, accessories, and apparel industry, whose average order value fell—from $141 in November to $139 in December. These three industries are also the only ones whose average order values exceeded $100 in December 2023. 

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Fourth on the ranking of the average order value by industry is food and beverage, with an average order worth $90. The multi-brand retail sector rounds out the top five. Its average order value in December was $74. The only of the five industries with the biggest average order values to see an increase in its average order value month on month is luxury and jewelry.

Average order value by industry: beauty and personal care, pet care and veterinary services, consumer goods

Sixth on the list studying the average order value by industry is beauty and personal care, with $73. This is $15 less than the previous month. 

The pet care and veterinary services industry follows, with $63, falling by $5, or 7.4%, from the preceding month. The sector with the lowest average order value is consumer goods. At $51, it represents a 56.4% tumble from November.

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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