What are product checkouts and how to calculate them

Fact: you want to maximize sales if you have or manage an online store. You can track many metrics, but one of the most positive ones is the number of product checkouts. It indicates in real-time how many people purchased from your online store. Here’s everything you need to know to get that number up and how to optimize your customer’s lifetime values.

TRACK YOUR PRODUCT CHECKOUTS!

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Templates using this KPI
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What are product checkouts?

Simply put, product checkouts are the number of times the product was included in the check-out process (Enhanced eCommerce).

It’s the opposite of the cart abandonment rate, which means online shoppers fill their online shopping cart with items on an eCommerce site but abandon the cart and don’t buy anything before completing the purchase process. This could be due to a retailer’s website optimization, an unclear checkout page, or the offered payment methods/shipping methods that were not optimal for the purchaser.

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How to calculate product checkouts

Product Checkouts is a metric found in Google Analytics under the E-commerce section. You can find many other targeted metrics in this section, like customer lifetime value, event conversions, etc. Some specific Saas or website builders will have eCommerce reporting, which can also give you insightful data about performance and website experience.

Product checkouts abandonment rate KPI examples & templates

You can add your most important eCommerce metrics in some of our templates!

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See this KPI in action here!

Ecommerce report template

A report with all the most important metrics for your eCommerce site, like shopping cart abandonment, add-to-cart rate, click-through rate, and revenue. Learn more about your product performance and get actionable insights with this simple yet knowledgeable report.

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Executive report template

This dashboard template is filled with metrics your C-suite will want to see. Show them your revenue, new customers, churn rate, and more. You can also add some customer satisfaction KPIs, gross margin, or customer data for a better overview.

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Google Analytics report template

Google Analytics can be very useful for important eCommerce metrics. Check the number of customers, traffic, customer journey through your website, and more with this easy-to-use GA template. You can also track specifics to product detail pages or landing pages.

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Product checkout best practices

Here are some best practices you should keep in mind.

Offer an intuitive checkout process

To ensure visitors don’t abandon their carts and go through with their purchases, you need to optimize the checkout experience. First, make it as intuitive as possible: your customers must have an easy way to checkout. As important as their information might be for sending your retargeting email templates, having a guest checkout option can benefit your bottom line. A complicated checkout flow can hinder your customers from hitting that final purchase button. A nice touch has a thank you page when they go through their purchases or upsell with related products/add-ons to optimize the customer’s lifetime value.

Offer a variety of payment options

Companies like Shopify allow you to use multiple payment options like credit cards, stripe, or PayPal. They do all the hard work upfront, drastically improving the usability of your website and checkout system. When you offer various payment options, you increase the conversion rate of your customers.

Send cart recovery emails

Sending cart recovery emails is the best way to minimize your abandonment rate and incite product checkout. When customers see an email showing their order is waiting for them, it improves email benchmarks like open rate more than any other emails you send. In addition, customers may expect an incentive inside that email, like a coupon, if they finish buying sooner. There is now even automation that you can create to pop up on your website or social media that can answer questions for customers and help increase your average order value.