> ## Documentation Index
> Fetch the complete documentation index at: https://docs.upstackdata.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Returning Customer CM2 %: Repeat Order Variable Margin Rate

> Track Returning Customer CM2 percentage for your Shopify store. Measure variable margin rate from repeat buyers.

<Tip>
  RC CM2 % measures the percentage of returning customer net revenue remaining after all variable costs—COGS, fulfillment, and transaction fees.
</Tip>

## Formula

<Info>
  **RC CM2 %** = ( **RC CM2** ÷ **RC Net Revenue** ) × 100
</Info>

### Formula Components

| Metric                                                                                 | Definition                           |
| -------------------------------------------------------------------------------------- | ------------------------------------ |
| [**RC CM2**](/reference/metrics/orders/contribution-margin/returning-customer-cm2)     | Returning customer variable margin   |
| [**RC Net Revenue**](/reference/metrics/orders/revenue/returning-customer-net-revenue) | Net revenue from returning customers |

| Metadata        |                                                                      |
| --------------- | -------------------------------------------------------------------- |
| **Type**        | Percentage                                                           |
| **Data Source** | [Shopify](/sources/shopify), [Upstack Costs](/sources/upstack-costs) |
| **Aggregation** | Ratio                                                                |

***

## Example

Returning customers generated **\$39,000** CM2 from **\$75,000** net revenue.

| Component      | Value    | Calculation               |
| -------------- | -------- | ------------------------- |
| RC CM2         | \$39,000 | After variable costs      |
| RC Net Revenue | \$75,000 | Revenue base              |
| **RC CM2 %**   | **52%**  | \$39,000 ÷ \$75,000 × 100 |

***

## How It Works

RC CM2 % shows what percentage of returning customer revenue remains after variable costs. This is pure contribution margin rate—no acquisition cost dilutes it. Compare against NC CM2 % to understand segment profitability differences.

***

## When to Use

| Scenario                      | Action                                         |
| ----------------------------- | ---------------------------------------------- |
| Comparing customer economics  | Benchmark RC CM2 % vs NC CM2 %                 |
| Retention investment planning | Use RC CM2 % to justify loyalty spend          |
| LTV modeling                  | Apply RC CM2 % to projected repeat purchases   |
| Efficiency tracking           | Monitor variable cost trends for repeat buyers |

***

## Related Metrics

| Metric                                                                             | Relationship                            |
| ---------------------------------------------------------------------------------- | --------------------------------------- |
| [RC CM2](/reference/metrics/orders/contribution-margin/returning-customer-cm2)     | Dollar amount that RC CM2 % is based on |
| [NC CM2 %](/reference/metrics/orders/contribution-margin/new-customer-cm2-percent) | Variable margin rate for new customers  |
| [CM2 %](/reference/metrics/orders/contribution-margin/cm2-percent)                 | Overall variable margin rate            |

[See all Contribution Margin metrics →](/reference/metrics/orders/contribution-margin)