Conversion rate measures the percentage of users who complete a desired action. Learn how to decompose conversion rate in a KPI tree.
Conversion rate is the number of conversions divided by the total number of visitors or users, expressed as a percentage. In an e-commerce KPI tree, conversion rate sits alongside traffic and AOV as a direct revenue driver: Revenue = Traffic × Conversion Rate × AOV. Conversion rate itself decomposes into funnel steps: product view rate, add-to-cart rate, and checkout completion rate.