Lost Sale
Lost Sale: The simple definition is a potential sale (usually a customer order) which was not completed (usually due to availability). However this is a grey area and very dependent on how the individual enterprise defines it. Many refer to abandoned website shopping cart quantities as lost sales, even though the customer may only have been browsing. This highlights the difficulty in defining the term – if the customer shows a desire for a product but does not purchase it immediately, was the sale really “lost”. Did the customer satisfy their desire elsewhere or with a different product from your own store, or did they simply postpone a decision? Were they perhaps simply “kicking tires”? The answer is quite elusive. In an ideal world we would like to see more regarding the reason for the lost sale – product did not meet requirement, price too high, not available when needed, etc. – but this information is generally not available. A lost sale is not a backorder because the backorder will ship when available – unless of course the customer does not accept backorders, or cancels the order before it ships.
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