Average E-Commerce Conversion Rate In 2024 (Data & Trends)

Average E-Commerce Conversion Rate - Yaguara

As a store owner, your e-commerce conversion rate is essential to determining your success. At the same time, the concept of conversion may be easy to understand but challenging to achieve. 

Nonetheless, it is an essential aspect of your store’s performance that cannot be overlooked.

If you’re looking for information on average e-commerce conversion rates by industry, country, device, and more, you’ve come to the right place. 

This article covers everything you need to know about average e-commerce conversion rates. Let’s dive in!

Before starting the article, let’s get a quick overview of the average e-commerce conversion rates by industry. 

IndustryThe Average e-Commerce Conversion Rate
Arts and Crafts4.20%
Health & well-being 3.61%
Kitchen & home appliances2.78%
Pet care2.05%
Fashion, Clothing, and Accessories1.47%
Sports and Recreation1.61%
Food & Drink1.16%
Electrical & Commercial Equipment1.21%
Baby & Child0.87%
Cars & Motorcycling1.28%
Toys, Games, & Collectables1.16%
Home Accessories & Giftware0.31%

What Is Conversion Rate?

Your conversion rate is the percentage of visitors who complete a desired goal on your website out of the total number of visitors. 

A high conversion rate shows successful web design and marketing, which means that people want what you’re offering and can easily obtain it.

To view the conversion rate formula, please refer below:

Conversion Rate = Number of users who performed an action / Total audience of Ads * 100.

Average E-commerce Conversion Rate - Overview

Based on the formula above, you can understand the conversion rate. Next, let’s explore the concept of E-commerce conversion rate.

What Is The E-commerce Conversion Rate?

An e-commerce conversion rate (CVR) is the percentage of site visitors who purchase on your site. It’s calculated by dividing the total number of purchases by the total number of site visitors.

Here is a formula for the E-commerce Conversion Rate, 

The E-commerce Conversion Rate = Orders/Total number of visits to your website*100%.

For example, 40 out of 1,000 visitors purchased from your store. 

To calculate the e-commerce conversion rate (CVR), you need to take the total number of people who purchased from your store (40) and divide it by the total number of visitors (1,000).

Then the e-commerce conversion rate will be 40/1000*100%

= 0.04*100%

=4%. 

Your e-commerce conversion rate will be 4%. 

Why Is The E-commerce Conversion Rate Important?

A high e-commerce conversion rate is essential for the success of any online shop.

For instance, if you generate 50,000 monthly views to your website through ads, and the website’s user experience is inadequate, or your product descriptions fail to convey value effectively. In that case, you may end up with only a small percentage of that traffic translating into customers.

The e-commerce CVR is a valuable metric for tracking the impact of changes made to your online store on profitability over time.

Average E-commerce Conversion Rate From 2022 To 2023

In this section, we’ll look at the average e-commerce conversion rates from January 2022 to April 2023.

According to IRP Commerce, in April 2023, the average conversion rate increased by 0.07% from March 2023. As of Q1 of 2023, the average conversion rate was 1.82%. 

In February 2023, the average e-commerce conversion rate hit its lowest point since September 2022, at 1.64%.

The following table shows the complete insights of average conversion rates from Aug 2022 to Aug 2023. 

MonthAverage E-commerce Conversion Rate
August 20221.62%
September 20221.72%
October 20221.30%
November 20222.10%
December 20222.13%
January 20231.74%
February 20231.64%
March 20231.75%
April 20231.82%
May 20232.04%
June 20231.87%
July 20231.98%
August 20232.03%

In April 2023, the average conversion rate in the e-commerce market increased by 6.89%, rising from 1.70% to 1.82% compared to April 2022.

The highest conversion rate (CVR) between January 2022 and April 2023 occurred in December 2022, at 2.13%.

The table above gives you an idea of the average e-commerce conversion rate.  

What Is A Good Conversion Rate?

When evaluating your e-commerce CVR, use an appropriate benchmark. Avoid comparing to an overall standard aggregating CVRs across industries, which can vary widely. 

Instead, find conversion rates specific to your industry or category for a more accurate benchmark.

Still if you wish to know the average over all the sectors, there here is your answer: 

So, a good conversion rate is around 2% to 5%. Let’s say you have a 2.5% CVR and you made it to 5%. That means you increased your conversion rate 2x, but if you look at the bigger picture, you are still in that average column!

Average E-commerce Conversion Rates

We will see the breakdown of average e-commerce conversion rates based on industry, device, platform, channel, region, and country.

By Industry

Based on data from the VWO Blog, the Arts & Crafts industry has the highest conversion, with 4.20%. 

The Health & Well-being and Kitchen & Home Appliances industries follow closely, with the maximum conversion rates of 3.61% and 2.78%, respectively.

After these three categories, the next converting product types are as follows:

  • Pet Care- 2.05%
  • Fashion Clothing and Accessories- 1.47%
  • Sports and Recreation- 1.61%
  • Food and Drink- 1.16%
  • Electrical and Commercial Equipment- 1.21%
  • Baby & Child- 0.87%
  • Cars & Motorcycling- 1.28%
  • Toys, Games, & Collectables- 1.16%
  • Home Accessories & Giftware- 0.31%

According to Statista, the average e-commerce conversion rate across all verticles is 2.5%. 

As of June 2023, the food & beverage verticle has the highest conversion rate at 4.6%, followed by beauty & skincare and health & beauty with 3.3% and 3.3%, respectively.

Here is a table showing the average conversion rate by verticle. 

VerticleThe Average Conversion Rate
Food and Beverage4.6%
Beauty and Skincare3.3%
Health and Beauty3.3%
Active Apparel2.8%
General Footwear2.8%
General Apparel2.7%
Beauty and Makeup2.5%
All Verticles2.5%
Sporting Goods2.3%
Toys and Learning2.3%
Active Footwear2.1%
Home, dining, art, and decor2.1%
Electronics and Accessories1.9%
Home Appliances1.5%
General Handbags and Luggage1.4%
Luxury apparel1.2%
Luxury Handbags1%
Home Furniture0.6%

By Devices

E-commerce takes place in an omnichannel environment, where customers engage with your brand across multiple devices.

This means that you may notice varying conversion rates for e-commerce based on customers’ devices.

As per the Adobe Experience Cloud Blog, desktops, laptops, and tablets boast an average conversion rate of 3%, whereas smartphones have a conversion rate of 2% as of 2023.

By Platform 

There are many platforms that shoppers use while shopping online, such as Windows, Android, iOS, etc. 

According to Invespcro, windows has the maximum average e-commerce conversion rate among all the platforms, with 4.94%. 

Windows is followed by Macintosh and Chrome OS, with 3.78% and 2.90%, respectively. 

Here is a comprehensive insight into the average e-commerce conversion rates by platform.

  • Windows- 4.94%
  • Macintosh- 3.78%
  • Chrome OS- 2.90%
  • iOS- 1.88%
  • Android- 1.80%
  • Windows Phone- 0.5%
  • Linux- 0.02%

By Region

Over the past year, conversion rates have varied by region, with EMEA experiencing the highest overall conversion rates (4.22%), followed by the Americas (3.5%), and then APAC (1.67%).

America region had an average 3.54% e-commerce conversion rate in February 2023. It was more by 0.05% than in January 2023.

Here is a total breakdown of the average conversion rate of the American region from March 2022 to February 2023. 

MonthThe Average e-Commerce Conversion Rate
March 20223.54%
April 20223.66%
May 20223.80%
June 20223.57%
July 20223.50%
August 20223.47%
September 20223.22%
October 20223.56%
November 20224.47%
December 20223.65%
January 20233.05%
February 20233.54%

By Country

E-commerce conversion rates vary across different countries. This is because the online shopping behavior of consumers is influenced by a country’s cultural norms and economic factors.

For instance, in some countries, consumers may prefer to browse products online but purchase in physical stores. Meanwhile, consumers may complete their entire purchasing process digitally in other countries.

The United Kingdom has the most average conversion rate, with 4.10%, While Germany and Denmark have 2.22% and 1.80%, respectively, as of 2023. 

Here is a list of countries that have the most average conversion rates. 

  • The United Kingdom- 4.10%
  • The United States- 2.30%
  • Germany- 2.22%
  • Denmark- 1.80%
  • Netherlands- 1.78%
  • Italy- 0.99%

By Channel

The way you gain a potential customer can significantly affect their likelihood to convert. 

For instance, those who come through referrals may be more amenable to making a purchase, while leads from paid advertising sources may require more persuasion before they commit to a sale.

Referral traffic has the highest average e-commerce conversion rate at 5.44%. This includes Traffic from affiliates or third-party sites linking to your products.

Here is a total breakdown of the average e-commerce conversion rate by Channel. 

  • Direct Traffic- 2%
  • Email- 2%
  • Organic Search- 3%
  • Paid Search- 1.44%
  • Referral Traffic- 5.44%
  • Social Channel- 1%

Average E-commerce Conversion Rates Benchmark

Based on HubSpot’s research, the agriculture industry’s conversion rate benchmark ranges from 0.62% to 1.41%.

Here is a table showing the average conversation benchmark across some industries. 

IndustryThe Average Conversion Rate Benchmark
AgricultureBetween 0.62% to 1.41%
Arts and CraftsBetween 3.84% to 4.07%
Baby and ChildBetween 0.87% to 1.43%
Cars and MotorcyclingBetween 1.35% to 0.65%
Electrical and Commercial EquipmentBetween 2.49% to 1.31%
Fashion, Clothing, and AccessoriesBetween 1.01% to 2.20%
Food and DrinkBetween 1% to 2.01%
Health and well-beingBetween 1.87% to 4.20%
Home Accessories and Giftware Between 1.55% to 2.34%
Kitchen and Home AppliancesBetween 1.72% to 3%
Pet CareBetween 2.53% to 2.20%
Sports and RecreationBetween 1.18% to 1.62%

Source: Hubspot

How To Improve Your E-commerce Conversion Rate?

Many helpful tips for improving your conversion rate fall under conversion rate optimization (CRO).

While CRO can be a complex topic, many practical strategies can be applied to improve your conversion rate significantly. Let’s get the details about some of the important CRO strategies. 

1. Optimize A Mobile-Friendly Website:

Optimizing a mobile-friendly website can significantly increase your conversion rate. Improving the mobile commerce experience can lead to more instant purchases and higher conversion rates. 

It is recommended to use a responsive design for e-commerce sites to ensure the interface is adjusted for different screens.

2. Provide Good User Experience:

Providing your users with a positive experience can help establish a loyal customer base. 

To enhance this experience, consider optimizing your website’s speed, using high-quality images, simplifying navigation, and implementing a site search tool. 

These improvements may result in higher conversion rates for your business.

3. Focus On Top Converting Traffic Channels:

As we’ve already discussed, the referral traffic channel has the highest conversion rate among the top converting channels. Comparatively, social traffic has a lower conversion rate.

You can refer to that section to focus on the top converting traffic channels while optimizing your strategy.

4. Use Clearer Images:

Have you ever tried zooming in on an image to get a clearer view of the details, only to find that it doesn’t quite work? 

And as a result, did you decide not to make the purchase? You likely did.

The same issue can occur on your website. If users can’t zoom in to see smaller details or the image resolution is poor, it can deter them from purchasing.

The solution is to use images with higher resolution, 360-degree functionality, and zooming capability.

5. Use More Social Proof:

Customers cannot physically examine your products when shopping online. Therefore, providing additional reassurance that your products are legitimate is essential. This is where social proof comes in. 

By including reviews, testimonials, before-and-after photos, and lifestyle images of your products, you can encourage more shoppers to purchase.

6. Promote Top-Converting Products Or Categories:

Conversion rates vary between products or categories. Check your analytics to identify which product or category has the highest conversion rates. These products and categories should be the focus of your marketing campaigns.

For instance, if your Kitchen & Home appliances have a higher conversion rate than your arts and crafts, prioritize promoting them on your site and in your marketing efforts.

7. Go Deeper With Your A/B Test:

A/B testing, also known as split testing, is an essential tool for optimizing your conversion rate.

 Through A/B testing, you can determine which parts of your e-commerce site are more (or less) effective with shoppers.

Once you are aware of this information, you can enhance that aspect of your website and boost your conversion rate.

8. Improve Your Checkout Process:

Don’t make your checkout process so complex. Customers who face difficulties while checking out can leave the product in the cart. 

You put a lot of effort into attracting that customer, so it’s important not to give them a reason to go. Consider revamping your checkout process to increase sales.

9. Put an Explainer Video of the Product on the page:

Videos tend to offer more detailed demonstrations. Consider adding videos that showcase your product from multiple angles and allow viewers to see it in action.

It’s also important to consider the growing number of people who prefer consuming video content over reading text.

So, putting an explainer video on the product page can increase your sales. 

10. Add additional Payment Options:

According to the Merchant Payments Ecosystem, 50% of customers could not find their preferred payment method, resulting in abandoned transactions.

You can survey to understand your customers’ preferred payment methods better. By doing so, you can add the most convenient option for them.

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FAQs

 What is a good e-commerce conversion rate?

On average, e-commerce conversion rates hover around 2.5-3%. Even if you are executing all the right strategies, you can still expect to make the sale only 2-3% of the time. A conversion rate of 3% or higher should be your baseline goal for your online store.

 Is E-commerce still profitable in 2024?

There is no doubt that e-commerce is still profitable in 2024. E-commerce sales are expected to grow by 10.40% in 2024. 

 Is 3% a good conversion rate?

A reasonable conversion rate is considered to be between 2% to 5%. It can also be a big deal if your conversion rate jumps by 0.5%. 

What is a good conversion rate for Shopify?

Most online calculations find the average conversion rate between 1% and 2%, with rates above that considered top-performing. Shopify reports that ecommerce stores with a conversion rate of over 3.3% are among the top 20% of highest-converting stores worldwide.

 What is the average B2B ecommerce conversion rate?

For B2B, an acceptable average conversion rate should be between 2%-5%. The ideal conversion rate for some industries could be around 10% or more. 

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