cart abandonment rate

Definition

The percentage of shoppers who add items to their online cart then flee before completing purchase, usually hovering around a soul-crushing 70%. It's the digital equivalent of people filling their shopping basket then just walking out of the store.

Example Usage

Our cart abandonment rate is 75%, suggesting that three-quarters of shoppers reach checkout and then reconsider their life choices.

Origin

E-commerce metric that emerged in the late 1990s with online shopping

Fun Fact

The top reasons for cart abandonment are unexpected shipping costs, being forced to create an account, and having time to think about whether you really need another throw pillow.

Source: E-commerce analytics

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