The Conversion sub-tab (Performance → Conversion) goes deep on your Shopify storefront funnel, the path from a visitor landing on your store to a completed order. It's where you find where shoppers drop off, not just how many converted.
The funnel
Four stages, straight from Shopify: Sessions → Added to cart → Reached checkout → Completed checkout, plus a daily conversion-rate trend. If a big drop happens between “added to cart” and “reached checkout,” that's a cart or shipping-cost problem; a drop at the final step is a checkout-friction or payment problem.
A conversion rate that matches Shopify
Conversion rate here is converted sessions ÷ sessions, Shopify's own storefront definition, not orders ÷ sessions (which reads higher). So the number lines up with what you see in Shopify Analytics.
Date windows
The presets (Last 7/30 days, etc.) cover complete days ending yesterday, matching Shopify's “Last N days.” For an exact apples-to-apples check, use the Custom range and pick identical dates in both tools.
Note