Cart abandonment rate refers to the percentage of online shoppers who add items to their virtual shopping cart but do not complete the purchase. This metric is used by businesses to measure the effectiveness of their online sales process and identify potential areas for improvement. A high cart abandonment rate may indicate issues such as complicated checkout processes, unexpected fees, or lack of trust in the website. By monitoring and analyzing this rate, businesses can take steps to reduce cart abandonment and increase conversions, ultimately leading to a more successful online shopping experience for customers.