How do I calculate the true cost of abandonment?

As a Shopify store owner running Facebook and Instagram ads, I've been obsessed with understanding why potential customers slip through my fingers. Every abandoned cart feels like money literally vanishing into thin air. I track my traffic, see people browsing products, adding items, and then... nothing. My conversion rate hovers around 2-3%, which means for every 100 visitors, only 2-3 complete a purchase. The math is painful: if my average order value is $85, and I'm getting 1,000 monthly visitors, I'm potentially leaving $78,300 on the table annually. That's not just lost revenue; that's a significant chunk of marketing budget and potential growth. I know my products are solid, my images are professional, and my pricing is competitive. So why are people abandoning their carts? Is it timing? Lack of urgency? Not feeling confident about their purchase? I need a systematic way to understand and quantify these lost opportunities, not just feel frustrated by them.