E-Commerceo
Industry Average Conversion Rates in E-commerce for 2023
In 2023, e-commerce conversion rates average between 2% and 4%, varying by sector. A baseline rate of 2.5% serves as a robust starting point for business optimization.
Determining a Good Conversion Rate for Websites
An average website conversion rate falls between 2% and 5%. Surpassing 5% is generally considered 'good', and top-performing brands often exceed this average.
High-Converting Industries in 2023
In Q1 2023, the food and beverage sector leads with the highest conversion rate at 3.1%. The health and beauty sector trails closely with rates just below 3%.
Evaluating a 30% Email Opt-in Conversion Rate
Typical email opt-in landing pages have conversion rates between 5% and 15%. However, elite companies achieve rates from 20% to 25%, with the crème de la crème exceeding 30%.
Conversion Rates in Physical Retail vs Online Stores
Average e-commerce conversion rates range between 2.5% and 3%. In contrast, physical retail stores often see significantly higher rates, sometimes as high as 20% to 40%.
Projected E-commerce Sales Growth in 2023
E-commerce sales are anticipated to grow by 10.4% in 2023. This makes adapting to the online shift in consumer behavior by optimizing your e-commerce strategy imperative.
Key E-commerce Trends to Watch in 2023
Emerging trends like social commerce, AR/VR, personalization, subscription services, and sustainable shopping are set to influence the e-commerce space in 2023. Retailers who adapt to these trends are more likely to succeed.