The average ecommerce conversion rate is something some people look at and think, “Well, that seems pretty low.” And it’s true. The average ecommerce conversion rate is just 2.86%. But there’s a bit more to that number than meets the eye. The average ecommerce conversion rate varies widely from industry to industry. For example, the average conversion rate for the insurance industry is 9.1%, while the average rate for the apparel industry is just 2.5%.
So, even though 2.86% might be the average, it doesn’t mean your ecommerce store can’t do better. In fact, it doesn’t mean your store can’t do a whole lot better.
You can’t expect to improve your ecommerce conversion rates if you don’t know what a good conversion rate looks like. In 2020, the average ecommerce conversion rate was 2.58%. However, the average conversion rate for top-performing ecommerce sites was 5.31%. As you can see, these numbers can vary greatly. But, as a general rule of thumb, you want to aim for a conversion rate of at least 2% to 3%. If your site’s conversion rate is below 2%, it’s likely that there are some major issues that need to be addressed. On the other hand, if your conversion rate is above 3%, you’re doing something right.
Top Factors That Influence Your Ecommerce Conversion Rate
There are a number of factors that can influence your average conversion rate.
Here are some of the most common ones.
1. Web Design
The design of your website is one of the most important factors that can influence your conversion rate. If your website looks outdated or unprofessional, it can lead to a poor user experience and lower conversion rates. On the other hand, a well-designed website can help to build trust with your visitors and increase your chances of making a sale.
2. Site Speed
Site speed is another important factor that can influence your conversion rate. If your website takes too long to load, visitors are more likely to leave your site and go to a competitor’s website. This can lead to a lower conversion rate and lost sales.
3. Product Descriptions
The quality of your product descriptions can also influence your average conversion rate. If your product descriptions are too short or don’t provide enough information, it can lead to a lower conversion rate. On the other hand, if your product descriptions are detailed and informative, it can help to increase your conversion rate.
4. Pricing
The pricing of your products can also influence your average conversion rate. If your products are priced too high, it can lead to a lower conversion rate. On the other hand, if your products are priced too low, it can lead to a higher conversion rate but lower profit margins.
5. Customer Reviews
The quality and quantity of customer reviews can also influence your average conversion rate. If your products have a lot of positive reviews, it can help to increase your conversion rate. On the other hand, if your products have a lot of negative reviews, it can lead to a lower conversion rate.
Analyzing Industry Benchmarks for Conversion Success
Before we get into the details of how to boost your ecommerce conversion rate, let’s take a look at some of the industry benchmarks to see how you’re doing. First, let’s talk about the average ecommerce conversion rate: 2.86%. This is the average of all the ecommerce conversion rates we have in our database. As you can see, it’s not very high. That’s because there are so many factors that can influence a conversion rate. It’s important to remember that your conversion rate is an important metric, but it’s not the only metric that matters. You also need to look at your average order value, your customer lifetime value, and your customer acquisition cost.
Tools and Tips to Optimize Your Ecommerce Store for Conversions
There are a number of tools and tips that you can use to optimize your ecommerce store for conversions. Here are a few of the most popular:
• Use an ecommerce platform that is designed to help you build a high-converting store. Some of the best options include Shopify, BigCommerce, and WooCommerce.
• Make sure that your store is mobile-friendly. With more and more people shopping on their mobile devices, this is absolutely essential.
• Use high-quality product images and videos. This will help to give potential customers a better idea of what your products are like in real life.
• Offer a variety of payment options. The more options you give your customers, the more likely they are to make a purchase.
• Use trust signals, such as customer reviews and testimonials, to build trust with your potential customers.
• Make sure that your store is easy to navigate. If people have a hard time finding what they are looking for, they are less likely to make a purchase.
• Use a variety of different marketing channels to drive traffic to your store. The more people you can get to visit your store, the more sales you will make.
