A Key Performance Indicator (KPI) measures the progress of a business against its main objectives. “High-level” KPIs track overall performance, and “low-level” KPIs measure key functions, like sales or marketing. Determining the right KPIs starts by establishing a goal within a specific timeframe (e.g., increase visitors by 20% over 3 months). The insights drawn help a business make informed decisions about growth.
In eCommerce, there are many KPIs that retailers track, like conversion rates, traffic and traffic sources, average page views and time on site, bounce rate, pages per visit, shopping cart abandonment, average order value, exit pages, referral sources, return rate, final sale, etc.