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 important 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.
According to the latest data, as of April 2022, the industry with the highest add-to-cart conversion rate was food and beverage. At 10.6%, it’s significantly higher than the average rate across all industries, which is 6.2%. This also marks a decrease of 1.25 percentage points from the previous month.
In fact, other than in October 2021, the food and beverage industry has recorded the highest conversion rates across all sectors over the past year. Its best performing month came in November 2021, when it peaked at 14.19%.
The industry with the second-highest add-to-cart conversion rate is multi-brand retail, with 8.27%. This is lower than its 12-month average of 6.92%. Like the food and beverage industry, its rate rose to its highest in the past 12 months in November 2021, registering at 9.12%.
The beauty and personal care industry has the third-highest add-to-cart conversion rate, with 7.31%, just a fraction behind that of multi-brand retail. The conversion rate for this sector has been falling since December 2021, when it peaked at 10.43%.
This is followed by the fashion, accessories, and apparel industry, with a conversion rate of 6.6%, and the consumer goods industry, with 5.42%. Pet care and veterinary services and luxury and jewelry have lower conversion rates of around 4%. 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 September 2021, at 3.26%.
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