Average Ecommerce Conversion Rate (2022–2023)
Given the increasing number of online shoppers, as an ecommerce store owner, you need to understand some key ecommerce issues. This includes asking questions like: “What is a good conversion rate for ecommerce?” and “What is a good ecommerce conversion rate benchmark to aspire to?”
The answers to these questions will give you the insight you need on how to improve your average ecommerce conversion rate on your website.
Average conversion rate for ecommerce
According to the latest data, as of August 2023, average conversion rates across ecommerce businesses were at 2.03%. This represents a 0.05 percentage point increase from the previous month and a rise of 0.39 percentage points from a year ago. Conversion rate isn’t the only ecommerce metric to have grown year on year—average order values also hit £94.67, or $116.17, an 8.02% annual increase.
It is also the second-highest ecommerce conversion rate since December 2022, when rates surged to 2.17%. This was a result of the year-end holiday season, one of the busiest shopping events of the year.
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Average ecommerce conversion rate by product category
If you’re looking for an ecommerce conversion rate benchmark for your store, you’ll need to look deeper as rates differ greatly from product to product and market to market.
As of August 2023, products related to arts and crafts have the highest ecommerce conversion rates of 5.46%. This category is followed by health and well-being at 3.58% and kitchen and home appliances at 3.23%.
After these three categories, the next five converting product types are as follows:
- Pet care: 2.15%
- Fashion clothing and accessories: 1.88%
- Sports and recreation: 1.79%
- Home accessories and giftware: 1.48%
- Toys, games, and collectibles: 1.42%
Average ecommerce conversion rate by market
What you eventually set as an ecommerce conversion rate benchmark also depends on your industry, market, and your target audience’s preferred device.
For instance, the latest data on ecommerce conversion rates by industry shows that the food and beverage industry currently has the highest conversion rates, with 7.9%. This is followed by consumer goods with 4.82%. Pet care and veterinary services and multi-brand retail follow with around 4.15%, each. The fashion, accessories, and apparel sector rounds out the five industries with the highest conversion rates, with 3.2%.