There's a concept called "conversion rate", and although it's not
well-defined, it's the best tool for figuring out if your checkout process
is working well enough. The CreativeGood.com site (mentioned by Nick) has a
calculator: (http://www.creativegood.com/survival/calc/). Their definition
of conversion rate is the number of visits the become completed orders.
My experience is that people abandon shopping carts very frequently. And
they even go all the way to the last page and abandon them. Many of these
people cannot be converted in any way. Some of them are frustrated with the
user interface. Clear Ink did user testing to fine-tune the checkout
process on the Restoration Hardware site. So, you might take inspiration
from it. You can also look at how the big guys (Amazon, WalMart) are doing
it. Unfortunately, this stuff is mostly an art and not much of a science.
Leon
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