Canceled Orders Rate:

The percentage of orders that are cancelled by clients or companies prior to fulfilment is referred to as the “cancelled orders rate.” High cancellation rates may be a sign of ineffective inventory control, technical issues, or unsatisfied clients. Businesses can use a variety of strategies, such as better inventory management, clear and accurate product information, or checkout process optimisation, to handle a high cancellation rate. Businesses can boost revenue and improve customer satisfaction by lowering the rate of cancelled orders.