<\/span><\/h2>\n\n\n\nThe proportion of customers that add products to their carts but then abandon the checkout process.<\/p>\n\n\n\n
It is calculated by dividing the number of completed transactions by the total number of orders begun, subtracting this outcome from one, and multiplying the whole thing by 100, i.e.,<\/p>\n\n\n\n
(1 \u2013 (Completed Purchases \/ Total Orders)) x 100.<\/em><\/p>\n\n\n\n<\/span>Chargeback<\/span><\/h2>\n\n\n\nA request by a customer’s credit card company to reverse a charge made on their card. Chargebacks are due to numerous reasons, such as fraudulent purchases or customer disputes.<\/p>\n\n\n\n
<\/span>Checkout Process<\/span><\/h2>\n\n\n\nA customer’s steps to complete a purchase on an online store. The checkout process typically includes the following:<\/p>\n\n\n\n
\n- Entering billing and shipping information.<\/li>\n\n\n\n
- Selecting a payment method.<\/li>\n\n\n\n
- Reviewing the order before placing it.<\/li>\n<\/ul>\n\n\n\n
<\/span>Clickthrough Rate (CTR)<\/span><\/h2>\n\n\n\nCTR<\/strong> stands for clickthrough rate<\/strong>. It measures how often people click on an ad when shown to them. The CTR is the ratio of proportion in which the number of clicks an advertisement receives to the number of times it is displayed. For instance, if an ad is shown 100 times and receives five clicks, then the CTR is 5%<\/p>\n\n\n\n<\/span>Comparison Shopping Engine (CSE)<\/span><\/h2>\n\n\n\nA website that allows users to compare prices from different retailers for the same product. Consumers often use CSEs to find the best deals on products.<\/p>\n\n\n\n
<\/span>Conversion<\/span><\/h2>\n\n\n\nThe intended action completed by a website visitor, which could be making a purchase, completing a form, or signing up for a newsletter.<\/p>\n\n\n\n
<\/span>Conversion Funnel<\/span><\/h2>\n\n\n\nA conversion funnel describes the many stages of a customer’s online store journey. The ‘top of the funnel’ is when a buyer first learns about a product, and the ‘bottom of the funnel’ is when they actually purchase it. The conversion funnel is frequently divided into four basic stages: awareness, interest, desire, and action.<\/p>\n\n\n\n
<\/span>Conversion Rate<\/span><\/h2>\n\n\n\nThe proportion of people visiting the website who complete the specified action. A website’s conversion rate is an analysis of its efficiency and can be used to monitor the success of marketing initiatives.<\/p>\n\n\n\n
<\/span>Conversion Rate Optimization (CRO)<\/span><\/h2>\n\n\n\nThe process of improving a website’s conversion rate. CRO involves various techniques, such as A\/B testing, optimising the website’s checkout process, and creating effective calls to action.<\/p>\n\n\n\n
<\/span>Cross-selling<\/span><\/h2>\n\n\n\nSelling additional products or services to customers who have already purchased. For example, if a customer buys shoes, you might recommend a belt or a purse.<\/p>\n\n\n\n
<\/span>CSV file<\/span><\/h2>\n\n\n\nIt\u2019s a plain text file in which data is separated by the commas. CSV files often export data from a website or online store.
In an ecommerce, We can import or export product data (SKU) into and out of online store building programmes in an ecommerce setting.<\/p>\n\n\n\n
<\/span>Customer Journey<\/span><\/h2>\n\n\n\nA customer’s journey from when they first learn about a product or service until they make a purchase. Customer journeys can be used to identify areas where the customer experience can be improved.<\/p>\n\n\n\n
<\/span>Customer Lifetime Value (CLV)<\/span><\/h2>\n\n\n\nThe total money a customer is expected to spend with a business over their lifetime. CLV is a valuable metric for companies to track, as it can help them make decisions about allocating their marketing resources.<\/p>\n\n\n\n
<\/span>Discount code<\/span><\/h2>\n\n\n\nA code that customers can use to get a discount on their purchases.<\/p>\n\n\n\n
<\/span>Dropshipping<\/span><\/h2>\n\n\n\nA fulfilment method in which the seller does not keep the products in stock. Instead, when a customer orders, the seller purchases the outcome from a third-party supplier and has it shipped directly to the customer.<\/p>\n\n\n\n
<\/span>Ecommerce<\/span><\/h2>\n\n\n\nThe purchasing and selling of products and services over the internet or it can be physical. It is a subset of e-business, which refers to the general practice of running an online business.<\/p>\n\n\n\n
<\/span>Ecommerce Platform<\/span><\/h2>\n\n\n\n A software application allowing businesses to create and manage online stores.<\/p>\n\n\n\n
<\/span>Faceted navigation<\/span><\/h2>\n\n\n\nA way of organising products on a website by different attributes, such as size, colour, or price.<\/p>\n\n\n\n
<\/span>Flash sale<\/span><\/h2>\n\n\n\nA short-term deal typically offered for a limited time only.<\/p>\n\n\n\n
<\/span>Fulfilment<\/span><\/h2>\n\n\n\nThe process of getting products from the seller to the customer.<\/p>\n\n\n\n
<\/span>Fulfilment by Amazon (FBA)<\/span><\/h2>\n\n\n\nOffering by Amazon to the seller to store their products and goods in Amazon’s warehouses and transport them straight to customers.<\/p>\n\n\n\n
<\/span>Inventory<\/span><\/h2>\n\n\n\nThe stock of products that a business has available for sale.<\/p>\n\n\n\n
<\/span>Online marketplace<\/span><\/h2>\n\n\n\n A website (for example amazon.com) that allows businesses to sell their products to a broader audience.<\/p>\n\n\n\n
<\/span>Payment gateway<\/span><\/h2>\n\n\n\nA service that allows businesses to accept customer payments online.<\/p>\n\n\n\n
<\/span>PCI compliance<\/span><\/h2>\n\n\n\nBusinesses that accept payments online must follow specific security standards.<\/p>\n\n\n\n
<\/span>Point of sale (POS)<\/span><\/h2>\n\n\n\nThe system businesses use to process customer payments in person.<\/p>\n\n\n\n
<\/span>Product option<\/span><\/h2>\n\n\n\nA product variation, such as a different size or colour.<\/p>\n\n\n\n
<\/span>Product variant<\/span><\/h2>\n\n\n\nA combination of product options, such as a red shirt in size oversized.<\/p>\n\n\n\n
<\/span>Real-time carrier shipping<\/span><\/h2>\n\n\n\n