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Analytics metrics explained - price test (duplicate product)

Kelly at ABConvert avatar
Written by Kelly at ABConvert
Updated over 3 weeks ago

This article is for Duplicate Product method. (Don't know which price test method you are using? Check out this section below)

This guide explains the metrics you can find in the analytics dashboard when running a price test with duplicate product method. It will help you understand how views, conversions, and profits are defined so you can confidently evaluate test results.

Metrics explained

Total views

Metric

Definition

Formula

Total Views (Product Based)

  • Number of product page views

  • Based on session storage in the browser, each product page viewed in a unique tab/session counts once

  • If a visitor views two test products in one session, it counts as 2 views

Conversion rates

Metric

Definition

Formula

Add to cart

  • Percentage of views that resulted in adding test products to cart

  • The event is recorded once per product per session

  • Adding the same product multiple times in one session counts as one event, while adds in different sessions are counted separately

# of Add to Cart Events / # of Views

Checkout

  • Percentage of product views that led to the checkout page

  • The event is tracked once per product per session

  • It will automatically logs an Add to Cart event if it hasn’t occurred yet.

# of Checkout Events / # of Views

Order

  • Percentage of product views that led to an order

  • The order event is recorded once per product per order

  • If there are two test products in one order, it will record two order events

# of Orders / # of Views

Average metrics

Metric

Definition

Formula

Average order product value

  • Average revenue per ordered test product

  • Only revenue from test products is included

  • Different test products in the same order are counted as separate order events

Total revenue of all test products / # of order events

Profit per product view

  • Average profit per product view

Total Profit / # of Views

Breakdown table

Metric

Definition

Formula

Views

Total number of product page views for the test group

Cost

Cost for each variant, shown at Display > Variant level

Add To Carts

Total number of add to cart events for the test group

Checkouts

Total number of checkout events for the test group

Orders

Total number of order events for the test group

Revenue

Total revenue generated by test products for the test group

Revenue = Total product value + Shipping - Discount - Tax

Product Sold

Total quantity of test products sold for the test group

Ad Spent

Total advertising spend attributed to the test group

ROAS

Revenue generated divided by ad spend

ROAS = Revenue / Ad Spend

Profits

Total revenue from test products minus cost of goods sold (COGS), based on Shopify COG data and product quantities

Profit = Total Revenue - (COGS × Quantity Sold)

Profit Margin (%)

Profit as a percentage of revenue

Profit Margin = (Profit / Revenue) × 100

Average Order (Product) Value

Average revenue per order (across all test products)

AOV = Revenue / Number of Orders

Conversion Rate

Percentage of views that led to an order

Orders / Views

Revenue per visitor (view)

Average revenue per product view

Revenue / Views

Profit per visitor (view)

Average profit per product view

Profit / Views

FAQs

  1. Can one user trigger multiple view or conversion events?
    A user can trigger multiple events if they view or interact with multiple test products or return in a new session. However, each event is counted once per product per session.

  2. What happens if a user adds the same product to the cart multiple times?
    The "Add to Cart" event is only recorded once per product per session, regardless of quantity.

  3. Why is the order count sometimes higher than add to carts/checkouts?
    Check out this article: Why Are Order Counts Higher Than Checkout Events?

  4. How is profit calculated when there are discounts or taxes involved?
    Profit is based on final revenue (after discounts and taxes) minus the cost of goods sold.

How to get my price testing method

In ABConvert > Settings > Price Test Method, you can see the price test method your store is currently using

You can read more about price testing methods in the following articles:

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