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 November 2022, the industry with the highest rate is food and beverage. At 13.47%, it’s significantly higher than the average rate across all industries, which is 7.79%, and only one of two industries with an add-to-cart conversion rate of over 10%. Its conversion rate in November 2022 also marks an increase of 0.38 percentage points from the previous month.
In fact, over the past 12 months, the food and beverage industry has recorded the highest conversion rates across all sectors. Its best-performing month came in June 2022, when its add-to-cart conversion rate peaked at 14.45%.
The industry with the second-highest add-to-cart conversion rate in November 2022 is beauty and personal care, with 10.71%. This marks a fractional 0.15 percentage point dip from the previous month but is higher than its 12-month average of 9.88%. The industry’s rate rose to its highest in the past 12 months in December 2021, registering at 11.45%.
The fashion, accessories, and apparel industry has the third-highest add-to-cart conversion rate, with 8.77%, its highest in at least 12 months. It is also the first time in 2022 that the conversion rate for this sector has surpassed 8%.
This is followed by pet care and veterinary services, with a conversion rate of 7.47%, and consumer goods, with 6.91%. Multi-brand retail and home and furniture have lower conversion rates of 6.25% and 4.43%, respectively. Of all the sectors, luxury and jewelry has the lowest add-to-cart rates of 4.33%. November also marks the first time that the luxury and jewelry industry’s rate has risen to over 4% in 2022.
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