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Average order value (AOV) measures the average value of every order placed over a defined period. It drives key business decisions such as advertising spend, store layout, and product pricing. This metric is calculated by dividing the revenue by the number of orders.
AOV is defined by sales per order, not sales per customer. It means that although one customer may return multiple times to make a purchase, each order would be counted separately.
Banks must ensure that their digital platforms are user-friendly, offering features like easy account management, instant transactions, integrated banking services in mobile apps, responsive customer service through chatbots or other digital tools, and more. Enhancing the overall digital experience can significantly reduce the likelihood of customers switching to competitors.
Alternatives to client-side tracking, such as server-side tracking, are becoming increasingly important in online marketing, especially as third-party cookies are gradually being phased out. Although Google has recently canceled its planned deprecation of third-party cookies, many browsers like Safari have already been blocking them since 2003. As a result, businesses seeking reliable and actionable information…
