The RevLifter Glossary
Explaining the language of eCommerce
What is AOV? (Average Order Value)
Average Order Value (AOV) tracks the average amount spent each time a customer places an order on a website or mobile app. To calculate your company’s average order value, simply divide total revenue by the number of orders.
What is CRO? (Conversion Rate Optimization)
Conversion Rate Optimization (CRO) is the practice of increasing the percentage of users who perform a desired action on a website. Desired actions can include purchasing a product, clicking ‘add to cart’ or signing up for a service.
What is Hyper-Personalization?
Hyper-personalization uses AI and real-time data to display highly curated products and content to online shoppers at scale. It treats customers as individuals with specific tastes and preferences, enabling brands and retailers to provide a unique customer experience that’s different for each shopper.