Advice and answers from the Rentech Digital Team

  • How Is Abandoned Cart Revenue Projection Calculated

    Abandoned Cart is the uncompleted checkouts of your app customers. The loss incurred due to cart is referred to as abandoned cart revenue.

    The revenue lost as a result of cart abandonment is referred to as abandoned revenue. Cart abandonment happens when a person browses the site, adds products to their cart, but does not finish the checkout process. Abandoned revenue is simply a monetary value assigned to all uncompleted checkouts. It's usually computed as follows:

    [Average Order Value] * [Abandoned Carts]

    Of course, this may be broken down much more. This is the suggested formula for estimating abandoned revenue:

    * ([Cart Adds] – [Orders]) * ([Revenue]/[Orders])

    No cart must be left behind

    The first step in recouping your lost revenue is to learn how to determine cart abandonment rate using a formula or in Google Analytics. You can optimize the consumer journey while gaining more sales for your shop by identifying the causes behind cart abandonment.