Average Website Conversion Rate by Industry

Average Website Conversion Rate by Industry: A Quick Guide

Recent research shows that digital buying channels are experiencing an overall increase in average order value, with spending rising by up to 30% year on year.

Still, average website conversion rates by industry can vary, with some industries finding more success in e-commerce than others. In this article, we will provide a website conversion guide that outlines the rates of conversion for different industries.

What Are Average Website Conversion Rates by Industry?

If you need website conversion explained, here is a short definition: it’s when a user completes a desired action on your website. For some sites, this means buying a product. For others, it means subscribing or downloading software.

It’s worth keeping in mind that a good conversion rate depends entirely on the standard for the industry. Where the average is low, what counts as a success might appear low too.

First, the average e-commerce retailer conversion rates:

  • Arts and crafts – 4.01%
  • Food and drink – 3.58%
  • Health and beauty – 3.08%
  • Online pet care – 2.51%
  • Kitchen and home – 1.72%
  • Homeware and gifting – 1.55%
  • Fashion, clothes, accessories – 1.41%
  • Car and motorcycle – 1.36%
  • Sports and leisure – 1.18%

Whilst some of these rates might appear low, e-commerce sites likely have high volumes of traffic. This is often a result of brand loyalty and repeat shoppers. With specialized retailers, many customers already know what they want when they visit the site.

With the average website conversion rate for e-commerce standing at 1.81%, it is evident on which sites people know what they want and buy it without delay.

Brands with small target audiences might struggle to boost website conversion rates. This is particularly true for those who have no marketing outside their websites, and no customer feedback on display promoting their products.

Now, the rates for B2B websites:

  • Publishing and media – 10%
  • Legal – 7.4%
  • Staffing companies – 5.1%
  • Finance services – 5.01%
  • Medical – 4%
  • Money lending – 3%
  • Real estate – 2.8%
  • Electrical equipment – 2.7%
  • Nonprofit organizations – 2%
  • Insurance – 1.7%
  • Higher education- 1.4%
  • Software – 1.1%

In the business-to-business world, large sales and one-time downloads are the name of the game. Marketing to businesses means offering a long-term investment, which reduces the regularity of repeat sales and the short-term effects of brand loyalty.

As a result, a lower conversion rate is still a success in B2B industries.

For software companies, in particular, an investment in the product they offer is very much a one-time thing. As long as they are meeting targets for demo downloads and consequent subscriptions, the company knows they are on track. Sometimes, other measures are better than conversion for measuring a companies success.

Website Conversion Tips

If you feel your business is falling behind the curve when it comes to conversion, there’s no need to worry. Though it’s not always the biggest indicator of how well your company is doing, there are still ways to improve your rates.

Experts like those at upmktdigital.com have plenty of experience in raising conversion, and their top tips are as follows:

  • Know your baseline conversion rate
  • Price products appropriately
  • Optimize your site across all devices
  • Analyze your competition

Doing these things will allow you to maximize your conversion rates. Thorough market research and application of your findings will give you exactly what you need.

Conversion Rates Can Help You

Whether you use them as an insight into the working of your industry or as a benchmark for your own success, they can be a useful tool. Now you know more about average website conversion rates by industry, you can use them however works best for your company.

If you’d like more useful tips about business and e-commerce, you’re in the right place! Be sure to check out our latest blog posts for more.

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