What is “Cohort” analysis?
- Cohort analysis is a method of gaining practical insights from past order data by dividing customers into groups called "cohorts" and measuring the behavior of each cohort over time.
- With 'cohorts by first month of purchase' vs 'months from first purchase (Shown as M0, M1, ..., Mn)', you can see X-month LTV (Lifetime Value) and X-month conversion rates to 2nd - 5th purchase.
Available KPIs for Cohorts vs Month
Metric |
Definition |
Lifetime Value |
For example, for "2021-12 × M3", if you assume that there were 100 customers who made their first purchase in December 2021, and by the end of March 2022 (3 months later), they had purchased a total of $1,000, the 3 months-Lifetime Value would be calculated as $1,000 ÷ 100 people = $10. |
CVR to 2nd Purchase |
The percentage of customers who made their first purchase in the “first purchase month” and made a second purchase at Mn point. Example: If 100 customers made their first purchase in April 2022, and 10 of them made a second purchase within 1 month (within 30 days), the CVR to 2nd would be 10.0% for M0. |
CVR to 3rd Purchase |
The percentage of customers who made their first purchase in the “first purchase month” and made a third purchase at Mn point. Example: If 100 customers made their first purchase in April 2022, and 5 of them made a third purchase within 2 months (within 60 days), the CVR to 3rd would be 5.0% at M1. |
CVR to 4th Purchase |
The percentage of customers who made their first purchase in the “first purchase month” and made a fourth purchase at Mn point. |
CVR to 5th Purchase |
The percentage of customers who made their first purchase in the “first purchase month” and made a fifth purchase at Mn point. |
Table Definition
Metric |
Definition |
First Purchase Month |
For example, for "2021-12", this refers to "Customers who made their first purchase in December 2021” |
First Purchase |
Aggregation for the first purchase (only for Lifetime Value) |
Mn |
Months from first purchase (Shown as M0, M1, ..., Mn). For example, if the first purchase month is 2021-12, M0 refers to within 30 days from purchase, and M1 refers to within 60 days from purchase. |
Over all time |
The result of aggregating the selected entire period |
Function
Filter by segment
You can select the customer segment to filter the result.
No filters ▶︎ Displays results for all customers
Download CSV
You can download data in CSV format.
Author
ECPower Product ManagerEdited and supervised by Product Manager of ECPower - Shopify Customer Segment & Journey Management, supporting Shopify merchants' CLV growth, CRM strategy and data analytics.