June 21, 2023

How to increase AOV and maximize conversions

As a D2C brand, increasing sales is a never-ending challenge. However, the game of online retail ultimately boils down to three pillars: number of visitors, order value, and conversion rate.

Unfortunately, 70% of website visitors abandon their cart due to low conviction and a poor checkout experience. To increase conversion rate (CVR) and average order value (AOV), you need to entice customers with personalized and time-bound offers.

That’s why Shopflo has partnered with Monk to bring state-of the cart purchase funnel and enable D2C brands with a superior cart and checkout experience.

Here are some effective methods to increase your sales:

1. Offer product bundles

By offering product bundles that are relevant to the customer, you can create more value for their money and increase AOV. Use the cart page to show customers complementary products or upgraded versions of what they already have in their cart. Monk’s powerful suite can enrich your user’s decision-making real estate (cart) with the right upsell and cross-sell offers, which are personalized and time-bound.

Instead of bombarding users with a large number of products, it’s more effective to show them products that make sense for their needs. For example, offering mobile accessories with a smartphone purchase would be a great way to increase the value of their purchase.

2. Offer free shipping at a higher threshold

In India, customers love free shipping. Instead of offering free shipping on all orders, set a higher threshold so that customers need to spend more to get free shipping. According to a study on Blinkit, 75% of all users are more likely to add an extra product than pay for shipping. According to a study on Blinkit, 75% of all users are more likely to add an extra product than pay for shipping.

Use urgency and scarcity tactics: Create a sense of urgency and scarcity by adding limited-time offers, low stock alerts, or countdown timers. Customers may be more likely to buy more items or higher-priced items if they feel like they need to act fast.

3. Simplify the checkout process

Enticing a customer to add more items to their cart only makes sense if you follow up with a no-brainer option for them to complete their purchase. Shopflo’s superior checkout offers a smooth and intuitive experience that can help increase conversions and reduce cart abandonment rates.

4. Offer discounts for larger purchases

Use Shopflo discount engine to create tiered discounts based on the amount spent, such as unlocking at higher value (Flat INR 500 on orders above INR 2000), capping discount offered at a certain amount (10% off upto INR 300), and so on. This strategy can encourage customers to add more items to their cart inorder to reach the higher discount threshold.

Shopflo and Monk integration provides D2C brands with a fast and seamless checkout process, while also offering personalised upsell and cross-sell offers to customers, resulting in a significant increase in AOV with approximately 15-40% boost in conversions.

Shopflo is live with India’s largest brands including Dot and Key, Yoga Bar, Sleepy Owl, Blissclub and Monk is trusted by top brands like Vilvah, Revlon Cosmetics & Doreme.

Interested in learning more about how Shopflo and Monk can work together to increase your CVR/AOV? Get in touch here.

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