Average Order Value (AOV)

Average Order Value (AOV)

An e-commerce metric that is calculated by dividing the total value of all orders over a period of time by the total number of orders over the same period.

Related Terms

Basket Size

The amount that a customer spends in a retail store in single transaction.

Just in time inventory

An inventory management that is focused on optimizing inventory levels by receiving raw materials and components

Convenience

A small-format retail outlet that offers a limited selection of basic and immediate consumption items, such