Given the increasing number of online shoppers, as an ecommerce store owner, it’s important for you to understand some key issues regarding your business. 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?” Having the answers to these questions will give you the insight you need on how to improve your average ecommerce conversion rate on your website.
So far, 2020 has seen rising conversion rates for ecommerce businesses, growing from 1.73 percent from July 2019 to 2.11 percent in July 2020—a year-over-year increase of more than 20 percent.
Incidentally, this is also the highest ecommerce conversion rate in seven years that the market has started the year with, beating even the 1.81 percent registered in mid-2015.
Average Ecommerce Conversion Rate by Products
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.
Currently, health and wellbeing products have the highest ecommerce conversions rates of 3.58 percent. That’s followed by arts and crafts supplies at 3.31 percent and pet care products at 2.98 percent.
Here are the top five converting product types:
- Health and wellbeing supplies: 3.58 percent
- Arts and crafts supplies: 3.31 percent
- Pet care: 2.98 percent
- Kitchen and home appliances: 2.63 percent
- Electronic and commercial equipment: 2.15 percent
In terms of ecommerce conversion growth rates, baby and child products are seeing the fastest increase, followed by food and drink and home accessories and giftware. Here’s a breakdown of the product categories and their year-over-year growth from July 2019 to July 2020:
- Baby and child: 110.28 percent
- Food and drink: 62.74 percent
- Home accessories and giftware: 39.60 percent
- Electrical and commercial equipment: 22.44 percent
- Sports and recreation: 16.14 percent
Average Ecommerce Conversion Rate by Markets
What you eventually set as an ecommerce conversion rate benchmark also depends on the market you’re selling your products in.
For instance, European countries produce higher conversion rates (1.51 percent) than the United States, where the ecommerce conversion rate is 1.37 percent.
The divide within Europe is also notable. At 1.78 percent, the United Kingdom’s conversion rate is the highest, while Belgium and Italy are only managing 1.2 percent.