Highest and Lowest Conversion Rates Based on Different Factors
As an e-commerce business, you always strive for high conversion rates—ensuring customers buy your products once they fall into your funnel. However, the same conversion might be high or low, depending on the industry and the market. There are certain geographical locations and industries where conversion rates can be much higher or lower than the average. In this article, we look at them—read on to find out more.
The Highest Conversion Rates Based on Geolocation
As we’ve mentioned in our previous article on preventing cart abandonment, it is impossible to eliminate all abandoned carts from your store. There will always be a percentage of users who won’t convert. However, this percentage might grow or shrink based on the market where you sell your products. Therefore, you need to measure your success not in pure conversion rates, but rather in references to the market you are targeting.
Which countries have the highest conversion rates? Here’s what we know from statistics.
Highest Conversion Rates Based on Geography
According to Ecommerce Europe, the top countries when it comes to conversion rates are:
- Germany: 2.22%,
- United States: 1.96%,
- United Kingdom: 1.88%,
- Denmark: 1.80%,
- Netherlands: 1.78%,
- Greece: 1.44%,
- France: 1.10%,
- India: 1.10%,
- Italy: 0.99%.
Italy, in the ninth position, already has an over two-times lower average than the first country on the list: Germany, showing how important and impactful such differences can be. Take this into account when setting your KPIs.
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Do you ship your products to any of the above countries? Landmark Global will help you with our reliable international parcel delivery services for e-commerce stores.
The Highest and Lowest Conversion Rates Based on Industry
The industry, or rather the type of products you sell, might also impact the conversion rates in your store. Certain goods are much more likely to be purchased once you grab the user’s attention, while with others, it’s the opposite. Which industries are the best and the worst in terms of the average conversion rates?
Highest Conversion Rates Based on the E-Commerce Sector
When it comes to the sector, industry or product category, the following have the highest conversion rates (according to Statista):
- Food and beverage: 4.6%,
- Health and Beauty: 3.3%,
- Fashion and apparel: 2.7%,
- Entertainment: 2.5%,
- Household goods: 2.1%,
- Consumer electronics: 1.9%.
Highest Conversion Rates Based on E-Commerce Sector
Interestingly enough, we have some conflicting data when it comes to the lowest conversion rates worldwide. According to the benchmark prepared by Ecommerce Bonsai, the following industries are at the bottom:
- Baby & Child products: 0.57%,
- Home & Furniture: 1.11%,
- Electrical & Commercial Equipment: 1.19%,
- Luxury products & Jewellery: 1.3%,
- Sports & Recreation: 1.45%.
The mismatch between the highest and lowest conversion rates here (namely, in the case of home/household goods) may stem from two reasons:
- The benchmark used three data sources instead of one, as in the case of the highest conversion rate statistics.
- In the benchmark, household goods were combined with furniture, which may lower the average.
The Takeaway
Conversion rates can be impacted by multiple factors. They can be low due to the overall market trends or the industry in which you operate. Nevertheless, the effort on your side also matters. So, measure conversion rates against a specific market and industry, prepare excellent UX, and smooth your customer journey. Collect good customer reviews and ensure your logistics are reliable. Need help with the last step? Contact us at Landmark Global—we’re your international e-logistics experts!
References:
- Ecommerce Europe. (2024). European E-commerce Report 2024. https://www.ecommerce-europe.eu/reports/european-ecommerce-report-2024/
- Statista. (2024, October). Global conversion rate by industry and device. https://www.statista.com/statistics/1106713/global-conversion-rate-by-industry-and-device/
- Wildwood, L. (n.d.). What is the typical conversion rate for ecommerce stores? Plus, how to boost yours. Ecommerce Bonsai. https://ecommercebonsai.com/ecommerce-conversion-rate/
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