Average eCommerce Conversion Rate by Industry
When creating an eCommerce website, your first important decision will be to decide what you are selling. There are a lot of factors that can sway you into selling one product or another, such as: having a knowledge of what you want to sell, supply is easy, low risk, etc. Read this post about the Average eCommerce Conversion Rate by Sectors!
If you’re new to selling online and have no special interest in any specific product, it may be a good idea to check which industries have better performance in terms of conversions. We’re here to lead you through this approach and give some valuable information on these various industries.
What is a conversion rate?
First things first, let’s start with the definition of a conversion rate. The conversion rate or CR is the percentage of users that perform the action we aim for them to do on our website. In regard to ecommerce, the main conversion goal will be sales.
But keep in mind that a conversion rate does not only refer to sales. For example, one of the conversion rates that we have set for our blog is to track how many subscriptions we are getting from readers.
If you want to know more about conversion rates, this blog post will be more insightful on the topic.
Conversion rate by industries
Which industries have higher conversion rates than others? Let’s find out:
As you can see from this graph created by Growcode using the data of Irpcommerce.com, the Arts & Crafts industry has the highest conversion rate between all industries with products such as: crafts, office and school supplies, etc. So if you are planning on starting a new eCommerce business, this sector may be a good choice.
After Arts & Crafts, we can see that Electrical & Commercial Equipment, Pet care, and Health & Wellbeing have a similar conversion rate. Which means that you should consider these industries as well!
Conversion rate by countries
Once you have decided on the products you are selling, you should decide which countries you plan to sell them in. Let us share some interesting data about the countries with the highest average conversion rates:
As you can see, Germany is the country with the highest conversion rate in terms of ecommerce, followed by the United States and the United Kingdom. This lets us know that people from these countries are more apt to purchase online, and it’s recommended that you focus on these countries if you want to maximize your profits!
Conversion rate by type of traffic
After deciding which products you are going to sell and which countries you’re targeting, you’ll need to decide which traffic source will yield the best conversion rate for you. Here’s a look at what we mean:
The graph shows that there are minor discrepancies between the industries, but the traffic that brings more conversions for all of them are organic and referral. This explains why SEO actions are valued by merchants, and why influencer marketing works extremely well.
The problem here is that with all the similar products that businesses are selling, customers don’t really know which options are the best. Making it so they tend to rely on recommendations to make the final decision.
Our personal recommendation is to focus on SEO and referral traffic, but also complementing it with some paid traffic actions such as Google Ads or Facebook Ads.
What are your thoughts on the average conversion rate of these industries? Did you find this information useful? Any important data that is also worth mentioning?
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