Conversion Rate by Industry: Current E-Commerce Statistics

What is a Good Conversion Rate?

Comparing your own conversion rate (hereafter abbreviated as “CVR”) with the average conversion rate in your specific market segment is only partly meaningful. To evaluate your conversion rate comprehensively, you also need to consider factors such as your target audience, brand awareness, product range, pricing strategy, and website structure.

Example: An online shop in the cosmetics sector offers skincare products in the mid-price segment, while another shop sells premium products in the high-price segment. The first retailer benefits from higher sales volumes due to lower prices and enjoys a high conversion rate, while the latter is already satisfied with 1%.

Average E-Commerce Conversion Rates

To roughly classify your online shop’s conversion rate, it makes sense to compare it with relevant statistics from your industry. There are many different online sources for average e-commerce conversion rates. We reviewed and compiled data from reputable websites.

For our evaluation, we collected statistics and analyses from trusted sources and calculated average values to ensure that the statements about conversion rates in e-commerce are as representative as possible. However, these figures should always be seen as relative and used only as a rough orientation within the overall context.

Average E-Commerce Conversion Rate Across All Industries

The average conversion rate across all industries is 2.24%. The period from October 2021 to October 2023 was used to calculate this average.

• 2.26% (Q4 2022 to Q3 2023)
• 2.22% (Q4 2021 to Q3 2022)

How Has the Average Conversion Rate Changed Over Time?

Historically, the average CVR has increased from 1.2% in January 2014 to around 2.2% today (October 2023), based on IRP Commerce data. However, there is a certain degree of volatility, and the data should always be considered in relation to international and national factors such as political, economic, and social conditions.

A Practical Example of a Dynamic Average Conversion Rate

At Christmas, the average CVR was 2.17% (December 2022) and in the previous year 2.41% (December 2021). These values are significantly above the 2% average, likely due to increased consumer spending and the time pressure to buy all gifts before December 24. At this point, we recommend our free e-book “Maximising Sales During Peak Seasons,” where we explain how to further boost your online shop’s revenue during the holiday season.

Why was the conversion rate at Christmas in 2021 higher than in 2022?
This may be due to the fact that many people shopped online during the COVID-19 pandemic. In addition, the global inflation rate in 2022 was 8.71%—almost double that of 2021.

E-Commerce Conversion Rate by Industry

It is also useful to look at different industries, as they offer very different products and services, which leads to noticeable differences in conversion rates. To illustrate these differences, we created a sample for Q3 2023/22:

Average CVR by Device

Looking at conversion rates by device reveals some interesting insights: In general, CVR tends to be higher on desktop PCs, laptops, and tablets compared to user sessions on smartphones. People almost always have their smartphones at hand and often browse or research while on the go. However, many buyers make their final purchase decision later and complete the transaction on a computer or tablet.

Does this mean the mobile user experience is unimportant?

No – quite the opposite. An optimal user experience on mobile devices is essential for creating a strong first impression, building trust, and ensuring visitors remember your brand. There is also significant potential to increase conversion rates on mobile if you optimize the mobile customer journey and improve the checkout experience. Our article on preventing mobile cart abandonment offers practical guidance on this topic.

Average CVR by Channel

Another statistic (Adobe) shows that the source of your visitors also significantly impacts their willingness to buy. Organic visitors, for example those arriving via a Google search, tend to have a higher average CVR than visitors from paid ads. The highest purchase intent is typically seen in visitors who arrive through recommendations, such as those generated by influencer marketing.

E-Commerce Conversion Rate: By Country

To better evaluate your own conversion rate, it is helpful to analyze the market in which your main target audience is located. Country-specific purchasing behavior can vary significantly and is influenced by various factors such as purchasing power (GDP), legal considerations, infrastructure, logistics, and cultural aspects.

Excursus: Difference Between Micro and Macro Conversions

In an online shop, the primary goal — represented by the macro conversion — is the sale of one or more products. On the way to this goal, there are several intermediate steps — called micro conversions — that guide the customer step-by-step toward the macro conversion. Selecting a product, adding it to the cart, entering personal data, choosing a payment method, etc. — the entire customer journey process falls under the measurability of micro conversions.
Why is this so important?

Measuring and tracking conversion rate metrics ultimately serves to identify optimization potential. When a shop owner knows exactly where customers drop off, targeted optimization measures can be implemented. It is possible, for example, that the micro conversion rate is high (e.g., customers often add products to the cart) but the purchase is abandoned before clicking the final order button. This phenomenon is commonly known as shopping cart abandonment.

If the mentioned intermediate steps are omitted — for instance, when an action is expected on every page visit — the macro conversion can be used directly. A good example is a landing page designed with the sole purpose of generating leads.

Industry Comparison of Conversion Rates Only Partially Meaningful

When it comes to conversion rates, there is no universal benchmark value, even though some attempts at generalization exist. A conversion rate depends on a wide range of factors as well as your specific goals. Likewise, industries vary greatly from one another, and even within the same industry, traffic sources can differ significantly.
A quote from Peep Laja, founder of ConversionXL, sums it up perfectly:

Even if you compare conversion rates of websites within the same industry, you’re not comparing apples to apples. Different websites have different traffic sources (and traffic quality makes all the difference), traffic volumes, brand perceptions, and relationships with their target audiences.

Compare Your Own Conversion Rate

Average values can provide an initial overview, but comparing your own monthly conversion rate is far more meaningful. Ultimately, the goal is to improve it month by month—the higher your conversion rate rises, the better.
Anyone looking for a fixed, universal conversion rate will be disappointed, as it is a relative metric both in general terms and within individual industries. The average conversion rate in your sector should serve only as a guideline.

It is essential to measure your own conversion rate regularly, relate it to your goals, and compare it over time. Combined with the right measures, this will help you optimize your conversion rate.

Frequently Asked Questions

What is considered a good conversion rate?

Across all industries, the average e-commerce conversion rate is around 2.24%. However, good results depend on your specific industry, target audience, and overall strategy.

Why does the conversion rate vary by channel?

Visitor quality differs: Organic traffic or referral traffic often converts better than paid ads.

How can I improve my conversion rate?

Optimize mobile usability, analyze micro-conversions, and enhance the customer journey with targeted actions such as shopping cart optimization.

Sources

1. IRP Commerce: Ecommerce Market Data and Ecommerce Benchmarks
2. Smart Insights: E-commerce conversion rate benchmarks – 2023 update
3. Adobe Experience Cloud Blog: Benchmarks für durchschnittliche Conversion Rates im E-Commerce-Bereich.
4. Ivesp: The Average Website Conversion Rate by Industry (Updated 2023)
5. Kibo Commerce: Retail Trends and Predictions: Q1 2023
6. Statista: Online shopping conversion rate in selected verticals worldwide in 3rd quarter 2023
7. monetate: E-Commerce Quarterly Benchmarks