The conversion rate is the percentage of users completing a desired action (a purchase for an e-commerce website). It's meant to evaluate the purchase intention of the visitors of a website.
It’s expressed as a percentage and calculated via a simple formula:
Conversion rate = number of specific actions taken in a period of time / total number of visits to your site in the same period of time.
It can’t be directly linked to the turnover of online sales but is a valuable indicator of your website’s efficiency in turning a visitor into a customer.