The Ultimate Guide to E-commerce Conversion Rates in 2023

The conversion rate is a metric that shows the percentage of visitors who perform a desired action. It's calculated by dividing the total number of conversions by the total number of visitors and then multiplying by 100. For example, if you have 1,000 visitors and 50 sales, the rate would be 5%.

The sales conversion rate is an indicator of your sales strategy's effectiveness. It's calculated by dividing the total number of sales by the total number of qualified leads, then multiplying the result by 100.

A favorable online conversion rate usually falls within the 2% to 5% range. However, industry leaders often exceed these rates, and performance can vary depending on the sector you're in.

Within the B2B domain, average conversion rates hover around 2.23%. Remarkably, 25% of B2B platforms attain a conversion rate of 4.31%, with some outliers reaching as high as 11.7%.

In e-commerce, CR stands for conversion rate, which is determined by dividing the number of completed transactions by the number of unique site visitors. For instance, if 1,000 individuals visit your website and 50 make a purchase, your CR would be 5%.

The estimated average e-commerce conversion rate for 2023 is expected to lie between 2% and 4%. However, these figures can vary substantially based on your industry.

The conversion rate is a pivotal KPI in e-commerce. It's computed by dividing the number of conversions by the total number of visitors. This valuable metric can illuminate the efficacy of your marketing strategies and landing pages.