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.
Here’s a look at the add-to-cart conversion rates of the top industries.
According to the latest data, as of February 2022, the industry with the highest add-to-cart conversion rate was food and beverage. At 11.36%, it’s nearly double the average rate across all industries, which is 6.36%. This also marks an increase of 0.1 percentage points from the previous month.
In fact, over the past 12 months, the food and beverage industry has consistently recorded the highest conversion rates. 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 beauty and personal care, with 8.73%. This is slightly lower than its 12-month average of 9.45%. Like the food and beverage industry, its rate rose to its highest in the past 12 months in November 2021, registering at 10.4%.
The multi-brand retail industry has the third-highest add-to-cart conversion rate, with 8.07%, just a fraction behind that of beauty and personal care. The conversion rate for this sector has seen significant growth over the past year. In March 2021, it had a rate of 5.75%.
This is followed by the fashion, accessories, and apparel industry, with a conversion rate of 6.82%, and the consumer goods industry, with 4.92%. Home and furniture and pet care and veterinary services have lower conversion rates of around 4%.
The industry with the lowest add-to-cart conversion rate is luxury and jewelry. Its most recent registered rate is 3.86%. Of all the sectors, luxury and jewelry has seen the lowest add-to-cart rates over the past year, never rising above 3.93%. During this period, its lowest rate was recorded in September 2021, at 3.26%.
