Add-to-Cart Conversion Rate By Industry
Starting an ecommerce businessrequires preparing everything fromonline marketing strategiesand website design topayment 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 criticalecommerce key performance indicatorsevery 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.
Add-to-Cart Conversion Rate By Industry in 2023
According to thelatest data, as of February 2023, the industry with the highest rate is food and beverage. At 15.43%, it’s significantly higher than the average rate across all industries, which is 7.1%, and only one of two industries with an add-to-cart conversion rate of over 10%. Its conversion rate in February 2023 also marks an increase of 3.2 percentage points from the previous month and is its best-performing month over the past 12 months.
In fact, the food and beverage industry has recorded the highest conversion rates across all sectors since at least March 2022. Its second best-performing month came in May 2022, when its add-to-cart conversion rate hit 14.71%.
The industry with the second-highest add-to-cart conversion rate in February 2023 isbeauty and personal care, with 10.4%. This marks a 1.49 percentage point dip from the previous month but is still higher than its 12-month average of 10.11%. The industry’s rate rose to its highest in the past 12 months in January 2023, registering at 11.89%.
The pet care and veterinary services industry has the third-highest add-to-cart conversion rate in February 2023. At 7.53%, it’s the highest conversion rate the sector has seen in at least a year.
This is followed byfashion, accessories, and apparel industry, with a conversion rate of 7.23%. It is the industry’s lowest add-to-cart conversion rate in at least 12 months. The consumer goods sector ranks next, with 5.78%. Multi-brand retail and luxury and jewelry have lower conversion rates of 5.6% and 4.32%, respectively. Of all the sectors, home and furniture has the lowest add-to-cart rates of 4.23%.