> ## Documentation Index
> Fetch the complete documentation index at: https://docs.upstackdata.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Returning Customer CM2 ROAS: Repeat Order Variable Margin ROAS

> Track returning customer CM2 ROAS for your Shopify store. Measure variable margin generated per dollar of ad spend on repeat orders.

<Tip>
  Returning Customer CM2 ROAS measures how much variable margin (after COGS and fulfillment) you generate from repeat orders per dollar of ad spend.
</Tip>

## Formula

<Info>
  **Returning Customer CM2 ROAS** = **Returning Customer CM2** ÷ **Ad Spend**
</Info>

### Formula Components

| Metric                                                                                             | Definition                               |
| -------------------------------------------------------------------------------------------------- | ---------------------------------------- |
| [**Returning Customer CM2**](/reference/metrics/orders/contribution-margin/returning-customer-cm2) | Variable margin from repeat buyer orders |
| [**Ad Spend**](/reference/metrics/ads/total-spend)                                                 | Total advertising spend                  |

| Metadata        |                                                                             |
| --------------- | --------------------------------------------------------------------------- |
| **Type**        | Ratio                                                                       |
| **Data Source** | [Shopify](/sources/shopify), [Advertising Platforms](/sources/facebook-ads) |
| **Aggregation** | Ratio                                                                       |

***

## Example

Your Shopify store generates **\$48,000** CM2 from returning customers and spends **\$15,000** on ads.

| Component                       | Value    | Calculation                  |
| ------------------------------- | -------- | ---------------------------- |
| Returning Customer CM2          | \$48,000 | Repeat order variable margin |
| Ad Spend                        | \$15,000 | Marketing cost               |
| **Returning Customer CM2 ROAS** | **3.2**  | \$48,000 ÷ \$15,000          |

***

## How It Works

Returning Customer CM2 ROAS shows margin-adjusted efficiency for repeat orders. Since repeat customers are already acquired, this ratio should be substantially higher than new customer CM2 ROAS.

***

## Benchmarks

| Rating     | Range     |
| ---------- | --------- |
| Excellent  | > 3.5     |
| Good       | 2.0 – 3.5 |
| Moderate   | 1.2 – 2.0 |
| Concerning | \< 1.2    |

High returning customer CM2 ROAS indicates strong repeat purchase economics.

***

## Related Metrics

| Metric                                                                                         | Relationship                |
| ---------------------------------------------------------------------------------------------- | --------------------------- |
| [Returning Customer CM2](/reference/metrics/orders/contribution-margin/returning-customer-cm2) | Numerator (variable margin) |
| [CM2 ROAS](/reference/metrics/orders/performance/cm2-roas)                                     | Overall CM2 ROAS            |
| [New Customer CM2 ROAS](/reference/metrics/orders/performance/new-customer-cm2-roas)           | First-order CM2 ROAS        |

[See all Performance metrics →](/reference/metrics/orders/performance)