Recent surveys by the marketing agency investors and research in 2022 show that the average e-commerce conversion rate is 3.65%. The average conversion rate in all segments of all e-commerce markets increased from 1.61% to 1.92% in July 2022 compared to July 2021.
Conversion information is one of the most secure data on the internet. Site owners are quick to share the effectiveness of their site with competitors. Metrics and services can estimate the number of visitors who visit the site, but not everyone can accurately calculate the actual conversion.
Which conversion is considered reasonable?
There is no single answer — a good result for one industry may be lower for another. A store selling high-quality electronics will not have the same conversion rate as selling T-shirts for 499 rubles. Similarly, a store with a list of target email addresses will get better conversions than a store with cold calling of potential customers.
Conversion is influenced by:
The cost of the product or the average price of the order
Device (Mobile, Tablet or PC)
Platform (Windows, Mac, iOS, Android, etc.)
Average conversion rate by industry
The average conversion rate varies by industry, but one thing is clear: the higher the price, the lower the conversion rate. Buyers do not behave impulsively and take longer to decide about buying expensive goods.
How to calculate the conversion rate of a website
The ratio of the number of orders to the total number of site visitors determines the conversion rate.
Depending on the analytics, the site’s sales conversion rate is called differently: in Google Analytics, this is called the e-commerce conversion rate.
The term “average conversion” can be confusing because a business may have different goals to track. For example, the percentage of visitors who add an item to the cart, download the manual or fill out a feedback form.
Why is it essential to track site conversion?
A site’s conversion rate measures how well a place turns visitors into leads. The success of a business is not in the monthly traffic but in the number of orders.
If thousands of visitors visit the site with almost no orders, then the problem is not a lack of traffic. The site does not convert for another reason, and you must study the area carefully in search of growth points.
Situations in which the reasons for low site conversion should be analyzed:
Rare, non-systematic orders.
High rates of basket rejection and checkout.
The increase in the number of refunds.
The remaining items do not change, etc.
Conversion and return on investment
A reasonable conversion rate means a high return on investment (ROI).
On the other hand, if the conversion rate decreases, the ROI will also decrease. Each conversion will become more expensive. If this happens, you may need to change your marketing strategy.
Increase the conversion rate of your site.
Increasing the site’s conversion rate will increase your profit and help you better predict customer behavior. Systematic results tracking ensures timely decision-making to increase sales and attract loyal customers.