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  "documentTitle": "Leading Online Shoppers Finish Line",
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  "authorName": "BCG",
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  "notes": "Includes specific definitions for conversion rates, store size tiers, and data filtering criteria.",
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      "text": "Shops with $5,000 or more in annual sales, 100 or more annual orders, and within 4 standard deviations of the conversion rate per industry\nShops with complete CY 2022 conversion data\nConversion rates are averaged at the store level\nStore definitions: Large, Medium, Small, Very small",
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      "text": "Overall conversion rate: Total number of sessions with order completed ÷ Total number of sessions\nLower funnel conversion rate: Total number of checkouts completed ÷ Total number of checkouts started\nBot activity excluded\nA total of 220,000+ sellers studied",
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      "kind": "source-note",
      "text": "Source: BCG analysis.\n¹Conversion rate in this study is based on sessions not unique users.\n²Bot filtering in third-party data is done by the web-tracking tools (in this case, mostly Google Analytics).",
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      "kind": "title",
      "text": "Appendix Exhibit 2 - How We Define Conversion Rate Consistently and Other Key Methodology Assumptions",
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