The average number of sold products in one bill means average basket size at the e-commerce world. In order to maximise the business value, to increase average basket size in e-commerce matters because it’s the easiest way to increase profits. Therefore, e-commerce merchants try to increase Average Order Value (AOV) first which is the process of making more money out of each customer. And to achieve this goal, here some tricks you can use:
1. Product Bundling Increases Basket Size
Product bundling is when two or more products are combined as a sellable package. and it increases the perceived value of the products. The cost of the package is higher than the cost of the individual item, but less than the two when sold separately. Therefore, customers feel that the products they bundle have a value more than they are bought separately and that’s why product bundling increases basket size.
2. Upselling and Cross-selling Increase Basket Size
Upselling is a sales technique to make customer purchase more expensive items or other add-ons while cross-selling invites customers to buy related or complementary products to make a profitable sale. Cross-selling and upselling are similar because they both focus on providing additional value to customers. The key to success in both is to truly understand what your customers value and then responding with products and corresponding features that truly meet those needs.
3. Free shipping
E-commerce merchants also use free shipping to increase average transaction value. However, it is not easy to give free shipping for each product. Especially for the furniture and white goods selling e-commerce merchants, the shipping costs are higher. In order to have a free shipping option, customers need to meet the conditions such as “free shipping over $100” or etc. These offers should be displayed on the main page or basket page to make customers buy additional products to meet the condition.
4. “Customers also bought” Increases Basket Size
This is an automated feature of the conversion optimization tool you buy. The platform recommends the products which are frequently bought along with the primary product customers have chosen in the past. You can influence your customers to spend more on products from your store easily with “Customers also bought” or “Who Bought This Also Bought” module.
5. Recommended for you
“Recommended for you” or “you may like” is also an automated feature of the conversion optimisation tool. It shows the smartest recommendation based on attributes and price of the product the customer have chosen. This feature also helps merchants in upselling products to increase the basket size.
6. Catalogue promotion
E-commerce merchants are using catalog promotions to attract customers into purchasing more products. These promotions may be created for a season sale or a special day. You can create a landing page for listing such products and link it to a banner/pop-up to make special promotions for your customers.
Bonus: Next Purchase Discounts (with a lower limit of 1.5 x AOV)
A magical instrument to convert first time buyers to loyal customers is the Discount Coupons which will be valid with the next purchase. To use this ecommerce personalisation tactic to increase the average basket size, you can just set a lower limit of purchase amount to enable this coupon. The wise decision to boost your revenue by using discount coupons, this lower limit should be set to 1.5 times your average order value (AOV). You can use Segmentify Personalised eMails module to send order follow-up emails including the discount coupon.