Conversion Rate Benchmarks

Conversion rate benchmarks are metrics that brands set by comparing the percentage of shoppers who make a purchase across all competitors in a given market.

What Are Conversion Rate Benchmarks?

Conversion rate is a metric that indicates how many shoppers are completing a purchase compared to how many the brand engages. This metric helps brands understand the efficacy of their sales and marketing initiatives. Conversion rate benchmarks enable brands to put their conversion rate within the context of their competitors' conversion rates. If a brand identifies that a market benchmark for a particular product category is 5%, for example, but they're only hitting 3%, they know they need to invest in their marketing initiatives because they're falling behind the market. Different industries, product categories, and regions have different conversion rate benchmarks, so each brand must conduct its own research to determine its conversion rate goals within a unique context.

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Conversion Rate Benchmarks

What Are Conversion Rate Benchmarks?

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