An ‘abandoned cart’ refers to a situation where a potential customer
adds items to their online shopping cart but exits the process without
finalizing the purchase.
Abandoned cart recovery refers to the process of re-engaging customers
who added items to their online shopping cart but left the website
before completing their purchase. This is achieved through various
marketing strategies like sending reminder emails or displaying
retargeted ads. These strategies aim to prompt the customer to return to
the website and complete their transaction.
‘Add to cart’ is the process by which a customer selects an item they want to buy from an online store. Once a site visitor clicks the ‘Add to Cart’ button, the item is reserved for them in their personal shopping cart until they decide to complete the purchase or remove the item.
An API (Application Programming Interface) is a set of rules and
protocols that allows different software applications to communicate and
interact with each other.
Apps are software applications designed to perform specific tasks on a computing platform. In Shopify, apps (both paid-for and free) can be added to extend the functionality of the platform. These apps cater for a wide range of use cases, including dropshipping, email marketing, blogging and more.
An app store is an online marketplace where merchants can discover and
install a wide range of applications, plugins, and integrations to
extend the functionality of their online stores.
Autoresponders are e-newsletters that are sent automatically to
subscribers on a mailing list. They are triggered based on rules and
time intervals defined by the owner of that list.
‘Average Order Value’ (AOV) is a key metric in ecommerce. It represents the average total of every order placed with a merchant over a certain period. Increasing AOV is a common strategy for maximizing revenue
‘Average Order Value’ (AOV) is a key metric in ecommerce. It represents the average total of every order placed with a merchant over a certain period. Increasing AOV is a common strategy for maximizing revenue
A backorder refers to an order for a product that is currently out of stock but still available for purchase. Shopify store owners encounter these when demand for a product exceeds its supply, and they are waiting for new inventory.
A blog is an online tool that lets individuals or businesses regularly
publish articles, insights, and updates on various topics of interest.
Shopify comes with a built-in blogging feature.
‘Bounce rate’ is a web analytics term that describes the percentage of visitors who enter a site and then leave (‘bounce’) rather than continuing to view other pages within the same site. A high bounce rate often indicates that the landing page is not effective in retaining visitors.
B2B (short for ‘Business-to-Business’), refers to transactions or
interactions between two businesses, rather than between a business and
individual consumers; i.e., it typically involves wholesale
transactions.
B2C (short for ‘Business-to-Consumer’) describes the process where businesses sell products or services directly to individual consumers (rather than businesses).
Shopify’s ‘Buy Button’ is a sales channel that lets you sell outside your Shopify store — for example on an external blog, website, social media presence or e-newsletter. In short, customers can buy products directly from a Buy Button without leaving the digital presence they’re currently on.
In the context of online shopping, a cart is a virtual basket where customers can store products they intend to buy. The cart keeps a record of the customers’ chosen items, allowing them to review, add, or remove items before proceeding to checkout.
The checkout is the final step in the ecommerce purchase process. Here, customers review their cart, enter shipping information, choose payment methods, apply discount codes and complete the purchase.
A ‘collection’ in Shopify is a group of products that are categorized together to make it easier for customers to find and browse them. Collections can be based on product type, season, sale items, etc.
‘Conversion rate’ refers to the percentage of website visitors who complete a desired action, like making a purchase, signing up for a newsletter or adding a product to a cart.
The Cost of Goods Sold, or COGS, represents the total cost directly
involved in creating or acquiring the products a company sells during a
specific period. This includes costs directly related to the product
like the cost of raw materials and the labor costs for workers who make
it.