Cohort AOV per month metric looks at AOV by the cohort view so you can easily understand if your returning customers are increasing the AOV on their subsequent purchases, or if your new customers are increasing the AOV compared to previous months/cohorts. Each customer is placed in the cohort when they make a first purchase.
The cohort view of AOV per month is more in depth then looking at the linear cohort chart because you can really track engagement with the cohorts over time.
How do we calculate?
We are looking at all the revenue from that cohort for that month and dividing it by the number of orders for that month which will give us the Average Order Value. This tells us how much customers are spending per order - which you always want to increase.
Over time you can see if your price increase, that the AOV will increase
If customers spend more in time per order, you will see the AOV going up.
If they spend
To understand the amount of orders per month, you should check out the Cohort Orders per Month metric.
When you look at products, you are looking at the AOV per product from their first purchase. Customers might come back and buy different products, but they will still be included in the segmentation by product for Product A.
If it is by the customers segment - customer tags, attribution sources, etc. They are on the customer and not on the order so the segmentation will be applied through out all purchases.