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Business term of the day - Term for June 27, 2013: «Abandonment Rate»

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In marketing, abandonment rate is a term associated with the use of virtual shopping carts. Although shoppers in brick and mortar stores rarely abandon their carts, abandonment of virtual shopping carts is quite common. Marketers can count how many of the shopping carts used in a specified time period result in completed sales versus how many are abandoned. The abandonment rate is the ratio of the number of abandoned shopping carts to the total shopping carts abandoned or to the number of completed transactions.