Is Your Brand Dying? 50+ Shopify KPIs To Assess Your Business Health

Hussam AlMukhtar

Feb 6, 2025

You've invested endless hours and boundless energy into your Shopify business, nurturing it from a mere idea into a tangible brand. Yet lately, something feels amiss. Sales aren't hitting the marks they used to, customer engagement is dwindling, and growth has hit an unexpected plateau. You're left asking yourself, "Where did things go wrong?"

What if the clues to revitalizing your brand are hidden in untapped data? The answers aren't in the next big marketing gimmick or a fleeting trend — they're in the key performance indicators (KPIs) that tell the true story of your business's health. These aren't just numbers; they're insights waiting to transform uncertainty into strategy.

In this guide, we're pulling back the curtain on over 50 essential Shopify KPIs that can help turn data into insights about your brand. Whether you're grappling with low sales, high cart abandonment, or challenges in scaling, KPIs are your roadmap. Ready to uncover the metrics that matter and breathe new life into your business? Let's dive in.

What is a key performance indicator?

A key performance indicator (KPI) is a quantifiable metric that shows how effectively your business is achieving its key objectives.

Think of it like a compass that points you toward success. KPIs cut through the noise, spotlighting what's working, what's not, and where you should focus your energy next. They give you tangible data to evaluate the well-being of your Shopify business and transform abstract goals into measurable outcomes, guiding you toward strategies that make a real impact.

Why are KPIs important?

Running a business without KPIs is like driving with your eyes closed. You might be moving, but you have no idea if you're heading toward a cliff or the open road. KPIs illuminate the path forward. They help you spot problems before they become catastrophes — and they help you seize opportunities before they slip away.

For example, say you notice your cart abandonment rate suddenly skyrocketing. Without this KPI, you'd be oblivious to a critical issue costing you thousands in lost sales. With it, you can investigate why customers are jumping ship and implement solutions — like streamlining your checkout process or offering free shipping — to win them back.

KPIs empower you to:

• Identify your business's weak spots: Uncover areas that need immediate attention.

• Optimize strategies you've already put in place: Fine-tune your marketing, sales, and customer service efforts.

• Drive growth to new heights: Make data-backed decisions that propel your business forward, whether you want to optimize your business for yourself or give it a valuation boost before you sell it.

KPIs make it so you don't need guesswork. Instead, you have data and can make precise decisions that turn into tangible results.

Types of KPIs

Not all KPIs are created equal, and that's a good thing. Different facets of your business require different metrics to paint a full picture. Here's a quick rundown of the types of KPIs we'll explore:

• Sales KPIs: Measure revenue-generating activities

• Marketing KPIs: Assess the effectiveness of your promotional efforts

• Customer service and support KPIs: Gauge customer satisfaction and support efficiency

• Manufacturing KPIs (if applicable): Monitor production and supply chain efficiency

• Brand performance KPIs: Evaluate overall brand health and operational costs

By diving into each category, you gain a holistic understanding of your business, leaving no stone unturned.

How to choose KPIs to track

With over 50 KPIs on the list below, it's tempting to track them all. But beware — information overload can be just as paralyzing as having no data at all. So, how do you zero in on the KPIs that matter most?‍

Here are some best practices for choosing which KPIs to track:

• Align with your overall business goals. Focus on KPIs that directly relate to your business objectives. If your goal is to boost sales, prioritize sales and conversion metrics.

• Choose specific metrics. Make sure the KPI can be quantified reliably. Vague metrics won't provide actionable insights.

• Consider timeliness. Choose KPIs that you can track regularly to make timely decisions.

• Pick metrics that inspire you to act. The KPI should lead you to clear actions. If a metric doesn't inspire change, it's just noise.

• Consider their impact on your bottom line. Prioritize KPIs that affect revenue and profitability.

Remember, the goal is to simplify. The right KPIs act as your North Star, guiding you toward strategic actions that drive real results.

50+ key performance indicators for e-commerce brands

Now, let's delve into the essential KPIs every Shopify business owner should consider tracking.

KPIs for sales

1. Sales

The total revenue generated from goods or services sold over a specific period. Sales figures measure your business's ability to generate income.

‍Example: If your Shopify company made $10,000 this month, that's your sales figure for the month.

‍How to improve: Use sales data to identify trends. Are certain products performing better? Is seasonality affecting your numbers? Consider strategies like promotions, upselling, or expanding your product line.

2. Conversion rate

The percentage of website visitors who make a purchase. A higher conversion rate means more visitors turn into customers, indicating effective marketing and user experience.

‍Example: If 1,000 people visit your site and 50 make a purchase, your conversion rate is 5%.

‍How to improve: A/B test your landing pages, improve product descriptions, and simplify the checkout process to boost conversions.

3. Average order size

The average amount spent each time a customer places an order. Understanding buying patterns helps you optimize inventory and forecast sales.

‍Example: If your total sales are $10,000 from 100 orders, the average order size is $100.

‍How to improve: Introduce bundle deals or "Buy Two, Get One Free" offers to encourage larger orders.

4. Gross profit

Total revenue minus the cost of goods sold (COGS). Gross profit shows how much money you're making before operating expenses.

‍Example: If you sold $10,000 worth of goods and your COGS is $6,000, your gross profit is $4,000.

‍How to improve: Reduce COGS by negotiating with suppliers or increase prices if the market allows.

5. Average margin

The average profit margin across all products sold. It shows the profitability of your products and helps in pricing strategies.

‍Example: If your average margin is 40%, you make $0.40 on every dollar sold.

‍How to improve: Focus on promoting higher-margin products or find ways to reduce costs.

6. Average order value (AOV)

Total revenue divided by the number of orders. Higher AOV means more revenue per customer, improving profitability.

‍Example: $10,000 in sales / 100 orders = $100 AOV.

‍How to improve: Upsell and cross-sell complementary products to boost AOV.

7. Customer retention rate

The percentage of customers who return for repeat purchases. Retaining customers is cheaper than acquiring new ones and increases lifetime value.

‍Example: If you had 200 customers last period and 150 returned this period, your retention rate is 75%.

‍How to improve: Implement loyalty programs and personalized marketing to keep customers coming back.

8. Cart abandonment rate

The percentage of shoppers who add items to their cart but don't complete the purchase. High shopping cart abandonment rates signal friction in the buying process, costing you sales.

‍Example: If 200 shoppers add items to the cart but only 50 complete the purchase, the abandonment rate is 75%.

‍How to improve: Simplify checkout, offer multiple payment options, and send reminder emails to recover lost sales.

9. Cost of goods sold (COGS)

The total cost of producing or purchasing the products you sell. This is essential for calculating gross profit and setting prices, and it includes material and direct labor costs.

‍Example: If you sold 500 units of a product that costs you $20 each to produce, your COGS is $10,000.

‍How to improve: Source cheaper materials or negotiate better deals with suppliers to reduce COGS.

10. Product affinity

Identifies which products are frequently bought together. Knowing this helps in planning promotions and cross-selling.

‍Example: Customers who buy a laptop often purchase a laptop bag in the same transaction.

‍How to improve: Use analytics tools to identify patterns. Create combo deals or recommend related products during the shopping process.

11. Product relationship

An understanding of how different products in your catalog relate to each other. This can inform inventory management and marketing strategies.

‍Example: Promoting your fitness trackers increases sales of your workout apparel by 25%.

‍How to improve: Analyze sales data to find correlations. Create marketing campaigns that highlight these relationships.

12. Inventory levels

The quantity of stock available for each product. Knowing inventory levels helps prevent stockouts or overstock situations. Overstock ties up capital; understock leads to missed sales.

‍Example: You have 1,000 units of Product A, but your monthly sales average is only 100 units, indicating an overstock.

‍How to improve: Use inventory management tools to balance stock levels and forecast demand.

13. Customer lifetime value (CLV)

The total worth of a customer over the entire period of their relationship with your business. This helps determine how much you can spend on customer acquisition.

‍Example: If a customer spends $100 per year and stays with you for give years, their CLV is $500.

‍How to improve: Increase CLV through upselling, cross-selling, and excellent customer service.

14. Revenue per visitor (RPV)

The average revenue generated each time a user visits your site. Calculate this as total revenue divided by the number of visitors. This combines traffic and conversion metrics to help you assess overall performance.

‍Example: $10,000 in revenue from 5,000 visitors equals $2 RPV.

‍How to improve: Improve site experience to boost both traffic and conversion rates.

15. Churn rate

The rate at which customers stop doing business with you. High churn rates can indicate dissatisfaction and undermine your growth efforts.

‍Example: If you had 100 customers and 10 didn't return, your churn rate is 10%.

‍How to improve: Identify reasons for churn through surveys and address those issues promptly. Improving customer experience typically improves churn rates.

16. Marketing qualified leads (MQL)

Leads that have shown interest and are more likely to become customers. Knowing this information means you can focus your sales efforts on high-potential leads.

‍Example: A visitor who downloads an e-book and subscribes to your newsletter is more likely to convert than one who passively visits your site and leaves quickly.

‍How to improve: Use lead scoring systems. Nurture MQLs with targeted content and offers to convert them into customers. 

KPIs for marketing

1. Traffic

The number of visitors to your business's site. More visitors mean more potential customers.

‍Example: You get 10,000 visitors in a month.

‍How to improve: SEO and marketing campaigns can be good ways to increase traffic over time.

2. New visitors vs. returning visitors

The ratio of new visitors to those returning to your site. This can indicate how engaging your site is and the effectiveness of retention strategies.

‍Example: Of 30,000 visitors, 18,000 were new and 12,000 were returning, so the ratio is 60% new to 40% returning.

‍How to improve: Implement strategies like retargeting ads to increase returning visitors.

3. Time on site

The average amount of time visitors spend on your website. Longer visits often indicate higher engagement.

‍Example: An average session duration of three minutes. You can find this metric on different analytics platforms, like Google Analytics or Shopify Analytics.

‍How to improve: Improve content quality and site navigation to encourage longer stays.

4. Bounce rate

The percentage of visitors who leave after viewing only one page. High bounce rates may signal irrelevant content or poor user experience.

‍Example: If 12,000 out of 30,000 visitors leave after one page, your bounce rate is 40%.

‍How to improve: Look for the issue causing visitors to leave. For example, try optimizing landing pages or ensuring your page load times are as fast as possible.

5. Page views per visit

The average number of pages viewed during a visit. More page views can lead to higher engagement and more conversion opportunities.

‍Example: With a total of 90,000 page views from 30,000 visitors, page views per visit is three.

‍How to improve: Interlink your pages and provide engaging content to encourage visitors to explore more.

6. Average session duration

The average length of a user's visit. This can indicate how compelling your site is.

‍Example: You check your analytics dashboard and see that the average session duration is five minutes.

‍How to improve: Improve the user experience to encourage longer stays. Incorporate videos and interactive elements to keep visitors engaged longer.

7. Traffic distribution

The breakdown of traffic sources (organic, direct, referral, and social). This helps identify the most effective channels through which visitors find your business.

‍Example: Out of 30,000 visitors, you get:

• 15,000 from organic search (50%)

• 7,500 direct traffic (25%)

• 4,500 from social media (15%)

• 3,000 from referrals (10%)

‍How to improve: Use analytics tools to find where your traffic is coming from. Invest more in high-performing channels and improve weaker ones.

8. Mobile site traffic

The percentage of visitors accessing your site via mobile devices. With more and more internet users accessing sites via mobile devices, mobile optimization is crucial for user experience.

‍Example: Of 30,000 visitors, 21,000 used mobile devices. That means 70% of your traffic comes from mobile devices.

‍How to improve: As more users shop on their phones, make sure your site is mobile-friendly to capture these users.

9. Day part monitoring

Tracking when your site gets the most traffic during the day can help you schedule promotions and product releases when they'll have the most impact.

‍Example: You use hourly reports in analytics tools to find that peak traffic occurs between 6 p.m. and 9 p.m., accounting for 12,000 daily visitors.

‍How to improve: Use analytics data and schedule product drops during peak times.

10. Newsletter subscribers

The number of people subscribed to your email list. A larger list increases your marketing reach — email marketing is a powerful tool for conversions.

‍Example: You use your email marketing platform's dashboard to find that your email list has 10,000 subscribers.

‍How to improve: Offer valuable content or discounts to encourage sign-ups.

11. Email open rate

The percentage of subscribers who open your emails. This indicates the effectiveness of your email subject lines and sender reputation.

‍Example: You send an email to 10,000 subscribers, and 2,500 open it. Your open rate is 25%.

‍How to improve: Test different subject lines and personalize emails to prompt recipients to open them.

12. Email click-through rate (CTR)

The percentage of email recipients who clicked on a link. This measures how effective email content is.

‍Example: Out of the 2,500 who opened the email, 500 clicked a link. Your CTR is 5%.

‍How to improve: Use clear calls to action in emails. Optimize email content to make it as effective as possible.

13. Unsubscribes

The number of people who opt out of your email list. High rates may indicate that your content is irrelevant or doesn't land with your subscribers — plus, high unsubscribe rates can hurt your reputation as a sender.

‍Example: After a campaign sent to 10,000 subscribers, 100 unsubscribed. Your unsubscribe rate is 1%.

‍How to improve: Review your email strategy, looking closely at things like how frequently you send emails and whether the content is relevant to your target audience.

14. SMS subscribers

The number of customers who have opted into SMS marketing. SMS has higher open rates than email, so this channel can be highly effective.

‍Example: Use your SMS marketing tool's dashboard to find that you've accumulated 5,000 SMS subscribers.

‍How to improve: Promote SMS opt-ins and provide exclusive offers to take advantage of how effective SMS marketing can be.

15. Subscriber growth rate

The rate at which your email or SMS list is growing, which can indicate the effectiveness of your lead-generation efforts. A growing list expands your marketing reach.

‍Example: Last month, you had 9,000 email subscribers; now you have 10,000. Your month-over-month growth rate is 11.1%.

‍How to improve: Run campaigns to encourage signups. Use lead magnets and social proof to accelerate growth.

16. Social followers and fans

The number of followers on social media platforms, which can help expand your brand reach and influence.

‍Example: Your Facebook page grew from 15,000 to 18,000 followers this month, a growth rate of 20%.

‍How to improve: Post engaging content, and use hashtags and promotions to reach new users who may not follow you yet.

17. Social media engagement

Interactions like likes, comments, and shares on social media, which measure how well your social media content is performing. High engagement boosts visibility and brand loyalty.

‍Example: A recent post received 1,000 likes, 200 comments, and 150 shares. You use social media analytics tools to track engagement over time.

‍How to improve: Create high-quality, interactive posts on different platforms, and actively engage with your audiences. Post consistently and encourage user-generated content (UGC).

18. Share of voice (SOV)

Your brand's visibility compared to competitors. This KPI helps measure your market presence; higher SOV can lead to market leadership.

‍Example: In your industry, there are 20,000 social mentions per month. Your brand is mentioned 3,000 times, which is 15% SOV.

‍How to improve: Monitor mentions in your industry or niche, and invest in or increase PR efforts if needed.

19. Return on ad spend (ROAS)

‍ROAS is revenue generated for every dollar spent on advertising. This KPI measures ad campaign effectiveness.

‍Example: You spent $4,000 on ads and generated $16,000 in revenue for 400% ROAS.

‍How to improve: A/B test different ads to optimize your ad targeting, and test various ad creatives to see what works best in your industry and market.

20. Cost per click (CPC)

The amount you pay for each user who clicks on an ad in a pay-per-click campaign. This is important to monitor because it affects your brand's overall advertising budget and ROI. A high CPC may indicate competitive keywords.

‍Example: You spent $800 on a campaign that received 2,000 clicks. Your CPC is $0.40 per click.

‍How to improve: Refine your keyword list and improve your ad quality scores. Use long-tail keywords and improve ad relevance to lower CPC.

21. Pay-per-click (PPC) traffic volume

The amount of traffic generated from PPC campaigns. This can directly correlate with ad spend effectiveness.

‍Example: You check your ad platform's reports to find that your PPC campaigns brought in 8,000 visitors last month.

‍How to improve: Adjust your bids and focus on high-converting keywords.

22. Keyword coverage

The number of relevant keywords your site ranks for, which enhances its organic search visibility. Broad coverage increases your organic traffic potential.

‍Example: You use search engine optimization (SEO) tools like Semrush or Ahrefs to find that your site ranks in the top 100 for 2,500 keywords.

‍How to improve: Use SEO tools to optimize landing pages and create keyword-rich content.

23. Average position

Your average ranking position in search engine results for targeted keywords. Higher positions lead to more visibility and traffic.

‍Example: Across your target keywords, your average position is 25. You should boost your SEO efforts to get into the top 10.

‍How to improve: Optimize your pages for high-quality keywords, build quality backlinks, and take on other SEO efforts to climb higher in the rankings.

24. Blog traffic

The number of visitors to your blog. Having a well-trafficked blog increases your brand authority and engagement, educates your customers, and boosts your SEO.

‍Example: You use analytics tools to find that your blog received 15,000 visitors this month, but your goal is to increase that by 10%.

‍How to improve: Publish high-quality content and promote your posts on social media and other relevant channels.

25. Number and quality of product reviews

Customer feedback on your products. This can influence the purchasing decisions of new customers and brand trust.

‍Example: You monitor reviews on your site and third-party platforms and see that Product Y has 200 reviews with an average rating of 4.8 stars.

‍How to improve: Encourage customers to leave reviews, and respond to feedback — both positive and negative.

26. Customer acquisition cost (CAC)

The cost associated with acquiring a new customer. Your CAC helps assess the efficiency of your marketing and sales efforts.

‍Example: If you spend $1,000 on marketing and acquire 50 customers, your CAC is $20.

‍How to improve: Optimize marketing channels to lower costs.

KPIs for customer service and support

1. Customer Satisfaction (CSAT) score

A metric that measures customer happiness. This is important to track because high satisfaction leads to loyalty, repeat business, and referrals.

‍Example: After a support interaction, you surveyed 500 customers; 450 rated their experience as satisfactory for a CSAT score of 90%.

‍How to improve: Collect feedback through surveys and always address customer concerns promptly.

2. Net Promoter Score (NPS)

Measures customer loyalty and their likelihood to recommend your brand to others. High NPS indicates strong brand advocacy, which amounts to free advertising via word-of-mouth.

‍Example: You surveyed 200 customers:

• 120 are promoters (score 9–10)

• 50 are passives (score 7–8)

• 30 are detractors (score 0–6)

Your NPS [(120-30) / 200] x 100 = 45

‍How to improve: Conduct NPS surveys. Address detractors' concerns and capitalize on promoters.

3. Hit rate

The percentage of successful customer service interactions that lead to a resolution, which measures support efficiency.

‍Example: Out of 1,000 support tickets, 900 were resolved on the first contact for a hit rate of 90%.

‍How to improve: Thoroughly train support staff and implement knowledge bases to give them the resources they need to succeed.

4. Customer service email count

The number of support emails received. This helps indicate the volume of issues or questions.

‍Example: You monitor your support inbox to measure your customer service email count. You received 2,000 support emails this month.

‍How to improve: Use FAQs to reduce queries, streamline support processes, and reduce inquiries.

5. Customer service phone call count

The number of support calls received. Knowing this information can help with resource planning.

‍Example: You use call logs to measure your customer service phone call count. You handled 1,000 calls this month.

‍How to improve: Offer self-service options and optimize call routing to reduce the load on support staff.

6. Customer service chat count

The number of live chat interactions, which measures demand for real-time support.

‍Example: You use your chat software's analytics to measure customer service chat count. You conducted 1,500 live chats this month.

‍How to improve: Make sure to staff the chat adequately during peak times. Use chatbots and automated responses for common queries, and use your chat lines to handle escalated tickets that need a human touch. 

7. First response time

The time it takes to respond to a customer inquiry. Faster responses improve satisfaction.

‍Example: You track response times in your support system. Your average first response time is one hour.

‍How to improve: Implement automated acknowledgments and prioritize tickets.

8. Average resolution time

The time it takes to resolve a customer issue. Shorter times enhance customer experience.

‍Example: You monitor through your support software and see that your average resolution time is four hours. Your goal is to reduce this by 50%.

‍How to improve: Empower your support staff with the knowledge and resources they need and the ability to make decisions. Streamline your escalation processes.

9. Active issues

The number of unresolved customer issues, which can indicate whether your support team's workload is too heavy or too light. 

‍Example: You check your support dashboard and see that you currently have 100 active issues. Your goal is to reduce this by 25% month-over-month.

‍How to improve: Monitor your support queues and allocate resources or adjust priorities as needed.

10. Backlogs

Unresolved support tickets over a specific period. Since they represent unresolved tickets, backlogs can harm customer satisfaction or damage trust.

‍Example: Backlog increased from 50 to 100 tickets this month, a 100% increase.

‍How to improve: Address staffing gaps and implement triage systems to make sure tickets are addressed promptly and don't slip through the cracks. Implement triage strategies and temporary staffing solutions.

11. Concern classification

Categorizing customer issues to identify common problems, which can help improve products or services and address root causes of support issues.

‍Example: 50% of tickets are related to payment issues, indicating that your business needs to focus improvement efforts there.

‍How to improve: Use ticket tagging and analytics to identify common support issues. Focus on improving logistics and setting clear expectations.

12. Service escalation rate

The percentage of issues escalated to higher support levels. High rates may indicate inadequate front-line support or training or retraining needs.

‍Example: Out of 1,000 tickets, 150 were escalated — a 15% escalation rate.

‍How to improve: Empower your front-line staff to resolve or escalate issues as needed. Provide comprehensive training to customer support teams.

KPIs for manufacturing

1. Cycle time

The total time from the beginning to the end of a process. Shorter cycle times mean faster delivery to customers.

‍Example: It takes three days to manufacture a batch of products from start to finish, but your goal is to reduce this by 33%, to two days, by the end of next year.

‍How to improve: Analyze production steps and eliminate bottlenecks.

2. Overall equipment effectiveness (OEE)

Measures how effectively manufacturing equipment is used. Higher OEE indicates better performance.

‍Example: If equipment availability is 85%, performance is 90%, and quality is 95%, OEE is 85% x 90% x 95% = 72.675%

‍How to improve: Monitor equipment downtime and schedule regular maintenance — especially preventative maintenance before downtime even becomes an issue.

3. Overall labor effectiveness (OLE)

Assesses labor productivity and helps in workforce planning.

‍Example: If labor availability is 92%, performance is 88%, and quality is 96%, OLE is: 92% x 88% x 96% = 77.7%

‍How to improve: Provide training and optimize staffing levels.

4. Yield

The amount of product produced relative to the input. Higher yields mean less waste.

‍Example: You produced 2,000 units, and 1,900 pass quality checks, so your total yield is 95%.

‍How to improve: Improve production processes and reduce manufacturing defects to increase yield.

5. First-time yield (FTY) and first-time through (FTT)

Measures the percentage of products made correctly without rework. High FTY and FTT mean lower costs.

‍Example: Out of 2,000 units, 1,800 meet quality standards on the first pass for a First Time Yield (FTY) of 90%.

‍How to improve: Improve FTY and FTT by improving quality control and training staff on proper manufacturing and procedures.

6. Number of non-compliance events or incidents

The count of regulatory or quality standard violations. Non-compliance can result in fines and reputation damage.

‍Example: You recorded three non-compliance incidents this quarter, prompting safety retraining for management.

‍How to improve: Conduct regular audits and complete safety and compliance training.

KPIs for brand performance

1. Hours worked

Total labor hours spent on business operations. Knowing this metric can help with operational costs and efficiency.

‍Example: Employees logged 5,000 hours this month. Now you can compare that figure against budgeted labor costs to ensure your business is operating efficiently.

‍How to improve: Optimize worker schedules and use automation where possible to save on labor costs.

2. Budget

The planned spending for various business activities. Having a budget helps make sure financial resources are allocated effectively.

‍Example: Planned expenses were $60,000, but actual expenses were $63,000. You were 5% over budget.

‍How to improve: Regularly review expenses and adjust allocations based on ROI.

3. Shipping costs

Expenses incurred in delivering products to customers. Shipping costs affect profit margins, so this is an important metric to track.

‍Example: You spent $6,000 on shipping costs for 1,200 orders, or an average of $5 per order.

‍How to improve: Negotiate with carriers or offer free shipping thresholds to save on costs, particularly for less lucrative orders.

4. Return on investment (ROI)

Measures the profitability of investments and determines the effectiveness of spending.

‍Example: You invested $15,000 in a marketing campaign, resulting in $45,000 in additional sales. Your ROI is 200%.

‍How to improve: Focus on high-ROI activities. For example, if you determine that marketing your products on social media is more cost-effective than paid search ads, it may make more sense to reallocate your paid search budget to boosting social media posts.

5. Cost variance

The difference between budgeted and actual costs. Knowing this metric helps with financial planning.

‍Example: You budgeted $25,000 for a project, but the actual cost was $27,500. The cost variance was $2,500 over budget.

‍How to improve: Monitor expenses closely and adjust budgets to avoid surprise expenses and overages.

6. Cost performance index (CPI)

Measures cost efficiency. A CPI greater than one indicates under-budget performance.

‍Example: The earned value of work completed for your brand is $22,500, and actual cost is $25,000. The CPI = $22,500 / $25,000 = 0.9.

‍How to improve: Re-evaluate project management and cost controls.

Frequently asked questions about KPIs

How is e-commerce performance measured?

E-commerce performance is measured using a variety of KPIs that track sales, customer behavior, marketing effectiveness, and operational efficiency. By analyzing these metrics, you can gain insights into what's working and what's not, allowing you to make data-driven decisions to improve your business.

What is the most important KPI for e-commerce?

While all KPIs provide valuable insights, conversion rate is often considered the most critical. It directly reflects how well your site turns visitors into customers, impacting your bottom line more immediately than any other metric.

How many KPIs should you track? How many is too many?

Quality over quantity is key. Tracking 5–10 KPIs that align closely with your business goals is generally enough for most businesses. Monitoring too many can lead to analysis paralysis, diluting your focus and making it harder to implement meaningful changes.

Let OpenStore help you hit more e-commerce KPIs

Feeling overwhelmed by data and unsure where to start? OpenStore can help you cut through the complexity. Our team of e-commerce experts specializes in evaluating Shopify brands just like yours, providing actionable insights that drive real results.

Imagine handing over the reins to seasoned professionals who can take your brand to new heights while you focus on what you love — whether that's starting your next venture or finally taking a dream vacation. OpenStore can help you maximize your exit and take your Shopify business to the next level so you can focus, worry-free, on whatever's next — pursuing a hobby, spending time with family, taking a break, or starting your next dream business.

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