Add-to-Cart Conversion Rate By Industry
Starting an ecommerce business requires preparing everything from online marketing strategies and website design to payment gateways. But simply getting them up and running isn’t enough. To ensure they’re carrying out the functions they’re supposed to and hitting the business targets you’re setting, you need to be able to track their performance.
One of the most critical ecommerce key performance indicators every online store needs to keep a close eye on is the add-to-cart conversion rate. While the idea is to get it as high as possible, realistic rates vary from industry to industry.
Here’s a look at the add-to-cart conversion rates of the top industries.
According to the latest data, as of August 2022, the industry with the highest rate is food and beverage. At 10.69%, it’s significantly higher than the average rate across all industries, which is 6.93%, and the only industry with an add-to-cart conversion rate of over 10%. Its conversion rate in August 2022 also marks a decrease of 0.64 percentage points from the previous month.
In fact, other than in November 2021, the food and beverage industry has recorded the highest conversion rates across all sectors over the past year. That was also its best-performing month when its add-to-cart conversion rate peaked at 12.1%.
The industry with the second-highest add-to-cart conversion rate is beauty and personal care, with 9.43%. This is slightly lower than its 12-month average of 9.69%. Like the food and beverage industry, its rate rose to its highest in the past 12 months in November 2021, registering at 13.16%.
The fashion, accessories, and apparel industry has the third-highest add-to-cart conversion rate, with 7.89%. The conversion rate for this sector has been holding steady between 7.3% and 8% since the beginning of this year.
This is followed by pet care and veterinary services, with a conversion rate of 4.95%, and multi-brand retail, with 4.9%. Consumer goods and home and furniture have lower conversion rates of 4.87% and 3.55%, respectively. Of all the sectors, luxury and jewelry has seen the lowest add-to-cart rates over the past year, never rising above 4%. During this period, its lowest rate was recorded in August 2022, at 3.07%.
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