Many Shopify stores lose money on the first order, making repeat customers crucial for profitability. This episode debunks common acquisition-focused myths and shows you how to use two specific Shopify admin numbers to predict your store
Key takeaways
The average new Shopify customer is a loss leader; profit comes from repeat purchases.
Focus on your Repeat Purchase Rate and Customer Lifetime Value (CLV) to determine store sustainability, not just acquisition.
You can access crucial profitability data directly from your Shopify admin to make data-driven decisions.
Shift focus from relentless customer acquisition to building relationships and encouraging repeat purchases to ensure long-term business growth.
The average new Shopify customer now loses you money on the first order. The repeat customer is where the profit lives. This kicks off my Repeat Commerce series on the Shopify1Percent podcast, breaking down the three lies that got ecommerce hooked on acquisition, plus the two numbers to pull in your Shopify admin today.
