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 February 2023, average conversion rates across ecommerce businesses were at 1.64%. This represents a 0.1 percentage point dip from the previous month and a marginal fall of 0.01 percentage points from a year ago.
It is also the lowest ecommerce conversion rate since October 2022, when rates fell to 1.3%—the lowest rate between February 2022 and February 2023. The highest average ecommerce conversion rate in this period came in December 2022. That month, rates surged to 2.13%.
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 February 2023, products related to arts and crafts have the highest ecommerce conversion rates of 4.04%. This category is followed by health and well-being at 2.89% and kitchen and home appliances at 2.47%.
After these three categories, the next five converting product types are as follows:
- Pet care: 1.98%
- Fashion clothing and accessories: 1.53%
- Sports and recreation: 1.47%
- Food and drink: 1.34%
- Electrical and commercial equipment: 1.16%
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 home and furniture industry currently has the highest conversion rates, with 6.3%. This is followed by food and beverage and consumer goods, with 5.45% and 4.55%, respectively. Beauty and personal care and pet care and veterinary services round out the five industries with the highest conversion rates, with 4.09% and 3.73%, respectively.