To begin with, Upselling is the strategy of offering an updated version of purchased goods at a higher price whereas, Cross-selling is recommending additional products that go with the original purchase.
Upselling is typically done to existing customers and offers an upgraded version of the same product. Cross-Selling, on the other hand, relates to different products.
While the technique of Upselling centers around increasing Order Value and greater purchase, Cross-Selling focuses on additional recommendations for other products.
According to a report, there is a 27% likelihood of first-time customers coming back to your store, but this data changes to 54% in cases of second and third-time buyers.
Hence, Upselling is quite an effective strategy to persuade existing customers and increase sales.