7. Shopping cart abandonment rate
Percentage of online shoppers who add items to a virtual shopping cart but then abandon it before completing the purchase
Last but not least the infamous Shopping cart abandonment rate.
What is Shopping Cart Abandonment Rate?
The Shopping Cart Abandonment Rate is the percentage of online shoppers who add items to a virtual shopping cart but then abandon it before completing the purchase. It shows the rate of interested potential customers who leave without buying anything compared to the total number of shopping carts created.
How to calculate Shopping Cart Abandonment Rate:
[1 - [ (#) completed purchases / (#) shopping carts created ]] * 100 = (%) Shopping Cart Abandonment Rate
For example, if you have 45 completed purchases and 200 shopping carts created, the shopping cart abandonment rate would be 77.5%.
1 - (45 / 200) x 100 = 77.5%
68% is AVERAGE 🙂
60% is GOOD 😊
50% is GREAT 🥳