Ecommerce Conversion Rate by Industry (2024)
One of the most important metrics all online brands need to monitor is their ecommerce conversion rate. It provides valuable insights into the performance of your digital sales and your target audience’s online shopping habits.
Even though there’s a standard figure across all online businesses, it helps to have a breakdown of the average ecommerce conversion rate by industry. This way, you’re able to better gauge your store’s performance against potential competitors and set more realistic business benchmarks and goals.
Here’s a look at the average ecommerce conversion rates sorted by industry.
Ecommerce conversion rate by industry: table
|
Industry |
Average ecommerce conversion rate (as of November 2024) |
|
Food & beverage |
6.11% |
|
Multi-brand retail |
4.90% |
|
Beauty & personal care |
4.55% |
|
Consumer goods |
3.01% |
|
Fashion, accessories, and apparel |
3.01% |
|
Pet care & veterinary services |
2.50% |
|
Home & furniture |
1.24% |
|
Luxury & jewelry |
1.19% |
Average ecommerce conversion rate by industry
According to a recent report analyzing ecommerce conversion rate by industry, food and beverage currently has the highest rate across all sectors, at 6.11%. It is also the only industry whose ecommerce conversion rate is above 5%. The current conversion rate marks a 0.17 percentage point decrease from the previous month. The food and beverage sector’s best-performing month over the past year came in November 2023, when its conversion rate surged to as high as 6.65%.
After food and beverage, multi-brand retail is in second place. Online businesses in this sector have an average ecommerce conversion rate of 4.9%. This is followed by beauty and personal care, with 4.55%. The consumer goods and fashion, accessories, and apparel sectors round out the five industries with the highest average ecommerce conversion rates, with 3.01% each. As of October 2024, these five above-mentioned industries are the only ones with ecommerce conversion rates above the overall average of 3%.
Online businesses in the pet care and veterinary services industry have the sixth-highest ecommerce conversion rate, at 2.5%. Ecommerce conversion rates for stores in this sector have been fluctuating this year. In January 2024, the average ecommerce conversion rate for these stores rose to 3.29% and continued to grow month after month, eventually reaching 4.01% in May. In the subsequent few months, rates followed a downward trend and hit a low of 2.36% in September.
The consumer goods industry is followed by ecommerce stores in the home and furniture sector, with 1.24%. Luxury and jewelry rounds out the list ranking the ecommerce conversion rate by industry, with 1.19%.