Latest Ecommerce Benchmarks you should know: Part 2
If you are just joining our series, be sure to check out part one of this post on ecommerce benchmarks.
The add-to-cart rate is the percentage of site visitors who add at least one item to their cart during a surfing session.
Why add-to-cart rates matter
Add-to-cart rates are pertinent to track as they reveal to you how successful your product selection, site usage and marketing efforts have been. Since statistics show that about 30-40% of site users who place an item in their cart end up completing the purchase, efforts to improve your add-to-cart rates would pay off in significantly increasing the revenue of your business.
A conversion is basically any desired action that you want your user to take. This could be anything from clicking a button on a sign-up form to clicking a ‘Buy Now’ button to make a purchase.
You could choose to have multiple conversion goals for your Ecommerce business and each of these goals will have its individual conversion rate.
Why do conversion rates matter?
When you track your conversion rates, you’re able to measure how well your web pages and apps are doing. It is in tracking that you understand what percentage of your users are completing the goals you set which propel your business, and also monitor how successful your app or website is while detecting areas that demand improvement.
When you have identified areas of improvement and take steps towards fixing them, you pave the way for your conversion rates to go up thereby allowing you to get more sales with the same amount of traffic.
Now that you are privy to the latest Ecommerce benchmarks, it’s time to do a complete check on your metrics using the information you now know to drive sales and ace your goals for the year.