If you sell online, this is one of the terms that must be in your vocabulary: the average ticket. In addition to knowing it in detail, we are going to share super effective strategies to increase its value, without having to increase the number of sales or raise prices.
We know it can be difficult to memorize so many new concepts and terms when you’re . For this reason, in this article we take the issue of the average ticket, which is key, and we are going to tell you everything you need to know about it.
Let’s get started! 📈
What is the average ticket?
the average ticket is the result of dividing the total value of sales by the number of orders. That is, the average value of each sale made in your virtual store.
How to get the average ticket?
Let’s go to an example to understand how to get the average ticket in your e-commerce. Suppose you have and sold ten pairs of shoes throughout the month, with the following values:
- Pair 1: $2,200
- Pair 2: $1,800
- Pair 3: $2,500
- Pair 4: $3,200
- Pair 5: $2,600
- Pair 6: $2,500
- Pair 7: $2,400
- Pair 8: $1,800
- Pair 9: $3,100
- Pair 10: $2,400
Based on this data, the total purchases are $24,500. For calculate the ticket averagesimply divide this value by ten, which was the total number of orders.
total purchases ÷ total orders = average ticket
If we do the division, we see that the average ticket here was $2,450.
The advantages of increasing the average ticket
There are many reasons to invest time in planning strategies that allow you to increase the value of the average ticket. Also, to the surprise of many, this does not necessarily imply increasing the price of your products or services or the number of sales.
Let’s go to the most important advantages:
- It’s a quick way to increase your business income.
- You can bring New customers to your e-commerce, increasing visits to your website.
- It allows you earn income considerable amounts to cover fixed costs.
- It is a great to generate recurring purchases from old customers.
- It is healthy for your store, before a drop in sales or on special dates of the year.
6 ways to increase your value
If you have come this far, it is because you want to take your business or entrepreneurship one step further. Cool! 👏
We are going to know the ways to increase the average ticket of your virtual store.
1. Create product kits
The kits or product packages allow your customers buy a set of complementary productsat a more affordable price than each item would cost separately.
While these discounts represent a cost to the business, they can serve to increase the value of the order. For example, if you sell cosmetic items you can build kits of products dedicated to facial, hands, feet. etc.
Think that, without this option, the customer would buy perhaps only one of the products individually. This is a good alternative to encourage people to buy more.
💡 Professional tip! I know well what are the products that your customers usually buy together. So, later you will be able to create the kits more tempting for your customers.
2. Complementary products
Instead of putting together a closed package, as we just saw, you can suggest products that complement the one that the client has already chosen.
If the person put some sneakers in their cart, you can recommend buying different laces to exchange or socks.
This is the sales technique we know as or cross sell. It is precisely about offering items related to what the customer has already placed in his cart and is about to buy. If you have a Cloud Store you can put this technique into practice by integrating the , available in our Cloud Application Store.
3. Free shipping
This is a widely used strategy in internet sales because very attractive to customers. We could almost say that this is the star technique! 🤩
In any case, we cannot fail to mention that this represents a cost and, therefore, we are going to see in detail under what conditions it would be a good idea to implement it:
- for all purchases: Of course, offering free shipping is going to affect your pocket. The shipping cost will have to be assumed 100% by you, but it can usually be a very good motivation for consumers.
- In purchases from a certain value: This alternative is more viable, financially speaking. In addition, it encourages people to buy a few more products in order to reach free shipping.
- When buying a certain product or package: similar to the previous one, in this case your customers buy higher value products to access the benefit.
4. Discounts and savings on volume purchases
If you are offering a discount for the purchase of more than one piece of a certain product, it is super important that you show him the savings he is getting, depending on the units purchased. For example:
- 1 piece: 850 pesos per piece
- 2 pieces: 820 pesos per piece
- 3 pieces: 800 pesos per piece
- +4 pieces: 780 pesos per piece
5.Gift cards
You can give a gift card or gift card with the purchase of certain products or for purchases over a certain value. In this way, in addition to promoting the increase in the value of the ticket, you will also promote recurring purchases.
For example, with each purchase, you can give away a gift card with a 10% discount (or other amount) for your next purchase.
6. Gift products
Gift products or courtesies are a great alternative to free shipping (or any other benefit).
Here we give you some strategy ideas for your e-commerce:
- In purchases that exceed a certain value. When your customer makes a high-value purchase, you can offer them a gift item. Although it is something symbolic, it is a gesture that they love!
- in product packages. At a sporting goods store, for example, you might provide a fourth pack of tennis balls with the purchase of three.
- On the first purchase. A free product along with a thank you note can be a hit when it comes to getting a customer to buy something from your store again!
- For frequent customers. Pleasing your first-time discoverers is important, but it’s just as essential to keep customers loyal to your store. Here you have two alternatives: send a courtesy, regardless of whether the customer has made a purchase, or give the gift together with a possible purchase.
conclusion
Now it’s time to apply everything you learned in this article! If you already have a virtual store, you just have to continue exploring our tips on our blog.
If you keep thinking about the idea of creating your own online store, we invite you to try Tiendanube free for 30 days. It is a simple platform, you do not need technical knowledge to make your store and start selling!
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