Personalization Glossary
A/B testing? Recommendation models? The personalization engine space uses several acronyms that may seem daunting, so we're here to help. You can find definitions to the most common e-commerce customer experience optimization terms here!
Average Basket Size
Average basket size refers to the average number of items sold in a single purchase. It is calculated by dividing the total number of products sold by the total number of invoices generated. This metric allows you to gain valuable insights into your merchandising strategies. The metric is usually seen in tandem with Average Order Value
Vue.ai’s personalization engine includes personalized product recommendations that are optimized to increase Average Basket Size. This includes bundling strategies such as Style it With, and Complete the look. These provide retailers with opportunities to cross-sell and upsell products across the catalog and increase their average basket size. Where a recommendation is placed in the buyer journey is equally important in achieving the desired business outcome.