ECOMMERCE
01.01.2023
You already have a working online shop and want to increase the shopping cart value in the online shop? At least you know what you want! To further increase your sales, you should take a look at the average shopping cart value. The shopping cart value (or average shopping cart value) is an important indicator for your online shop. Not only does it tell you how much your customers spend on average per purchase, but a high shopping cart value can also indicate that customers are satisfied with the items and prices offered. Since a higher shopping cart value can also help to increase the sales of your online shop, it is worthwhile to invest time in optimization. Your focus should be on the number of products in the shopping cart, as well as on the price (value) of the ordered products. Both significantly influence how much revenue you generate with an order.
The average basket value differs greatly depending on the industry, which is why you should avoid comparing it with other industries. The reason for this is that ordering a couch from a furniture store, for example, costs significantly more than ordering T-shirts or other smaller items. In any case, the average shopping cart value is the total sum of all products purchased in an order transaction. It is also called Average Order Value (AOV). To calculate it, you divide your sales by the number of orders. The result shows you the average shopping cart per order. But not per customer - this is an essential and important difference.
The problem with determining the average shopping basket is that it does not reflect the distribution of shopping baskets. It is therefore possible that a few very high or very low shopping carts distort the average. It therefore makes sense to also look at other key figures such as the median or the standard deviation.
One weakness of the average basket value is that it does not tell you how satisfied or loyal your customers are. They may only order a large shopping cart once, or they may order small shopping carts several times. To draw conclusions about satisfaction, you need other metrics like customer loyalty or customer lifetime value.
There are many levers you can use to increase the average shopping cart value in your online shop. If you want to increase the average shopping cart value achieved in the online shop, you must first and foremost target those who have already placed something in the shopping cart - in other words, those who are ready to order from your online shop. To achieve the highest possible shopping cart value, you must do one thing above all: Offer customers something that will make them buy even more products. Here are a few tips:
Users can be enticed to buy more when they see offers or discounts. Examples include buying multiple items or reaching a certain purchase value. This can make users feel like they're getting a good deal and encourage them to buy more. But be careful not to offer too much discount too often. The frequency and amount depends a lot on your products, your profits and your customers. Above all, try to avoid offering discounts too frequently, otherwise you might get your customers used to the discount cycles.
Upsellingoffers users higher-value products, while cross-selling involves offering supplementary or complementary products. Both strategies can help immensely to increase the average shopping cart value. To effectively implement upselling and cross-selling, you can use the following methods:
Make it easy to mix and match items: Users are more likely to buy more when they see how different items can be combined to create a complete outfit or collection. Make sure it's easy to compare and combine items by offering outfit suggestions or product recommendations, for example.
As an alternative to special offers, discounts, cross- & upselling, gifts are another incentive for increasing the average shopping cart value. For example, customers who always buy the same 3 products for €44 would not infrequently order another small product in addition if there is a small gift on top from €50.
Recommendations from friends or other customers can help users buy more because they feel that the product is trustworthy and, most importantly, good. Customer referrals are a form of referral marketing where satisfied customers recommend your product or service to others. This has the following advantages for you:
To benefit from customer referrals, you need to do one thing above all: delight your customers. That means providing them with excellent service, exceeding their expectations, and delivering value. In addition, you can actively ask them for a recommendation after the purchase.
Personalized recommendations can help you increase your online shop cart value by inspiring your customers to buy more or higher value products. You can implement personalized recommendations in several ways. For example:
Users are more likely to buy more if the checkout process is simple and straightforward. Make sure it's easy to add items to the shopping cart. You can achieve this by offering direct "add to cart" buttons and making the checkout process as simple as possible.
Free shipping is a popular purchase incentive for customers who are put off by high or unclear shipping costs. When you offer free shipping, you can reap multiple benefits:
However, you also need to keep in mind that free shipping doesn't always make sense. It depends on your products, your margins and your target audience. For example, if you sell very cheap or very heavy products, free shipping can cut into your profits.
Users are more likely to buy more if they have a wide selection of items to choose from. Make sure that your online shop offers a wide range of items in different price categories and styles.
A user-friendly website that is easy to navigate and has a fast loading time can help users stay longer on the page and thus buy more. On the other hand, long loading times, frequent bugs or unnecessarily complicated checkout processes often lead to orders being cancelled.
The user experience (UX) is of great importance in the context of an online shop, as it influences the user's shopping experience and thus also their buying behavior. A good UX contributes to users staying longer on the website, viewing more items and ultimately buying more. To ensure a good UX in an online shop, there are some factors that should be considered:
For more tips on how to improve your user experience and conversion rates, read our blog "Understanding and sustainably improving bounce rates" and "Increasing online shop sales: 10 tips for you".
It is quite possible to increase the average shopping cart value by strategically placing incentives. In addition, it is important that your online shop is easy to use for your customers and meets their needs and expectations. User experience is always in the foreground and should not be focused only on selling products. A good user experience is a key factor in keeping users coming back and buying more in the future.
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