What is a good eCommerce conversion rate?
According to a 2018 study, the average US eCommerce conversion rate stands at 2.6% across industries and devices. Conversion rate is significantly lower (1.8%) when zooming in on smartphone users.
Moreover, different industries vary greatly: while online retail’s average is 3%, software/SaaS products convert at 7% on average, while professional or financial services enjoy a 10% average online conversion rate.
What are eCommerce conversion best practices?
There are numerous ways to improve eCommerce conversion rate.
- Start with user experience: You lose a percentage of sales for every step between search query input and final payment. Eliminate all unnecessary steps between initial query and finalizing checkout.
- Then, confirm that your products/services rendered in results adequately match popular search queries and the intent behind them.
- Finally, continuously monitor your site search performance. Test popular queries often to ensure results relevance, and manually adjust merchandising as needed.
What are some eCommerce conversion examples?
US eCommerce conversion stands at 2.63%, on average (2018). Here are proven ways to optimize that figure:
- Nearly 1/3 of visitors use a site search to find what they want, so implement, test and tweak an advanced onsite search tool that delivers relevant products and services every time.
- Display testimonials, preferably with reviewers’ photos, as customers trust these more than those without photos.
- Integrate videos in product pages or service pages – videos have a higher conversion rate than photos, plain and simple.
How is eCommerce conversion rate calculated?
There are two ways to calculate eCommerce conversion:
- Divide the number of transactions by the number of sessions. E.g. if 100 people visit a site twice per day and complete 10 transactions, the conversion rate is 5%.
- Divide the number of transactions by the number of visitors. E.g., if 100 people visit a site and 10 of them finish checkout, the conversion rate is 10% even if they visited more than once, on average.