In 2018, the average conversion rate of online stores increased from 1.30% to 1.53%, from 2017. The statistics are based on a representative analysis conducted by Omniconvert on a sample of 772 million visits registered by the 300 most important Romanian e-commerce stores. Omniconvert is a Conversion Optimization and A / B testing company in Romania, with a strong focus on the global e-commerce market.
As a result of the 772 million visits, it was found that the conversion rate increases along with the number of sessions. This is mainly due to a higher number of recurring visitors.
Thus, for an online store that records more than 2 million visits per month, the conversion rate can increase up to 1.57%, while an online store that has less than 100,000 visits per month has a rate of conversion of only 0.93%.
In addition to a large number of sessions, the other two factors that help improve conversions are powerful branding and consumers’ trust in the online store.
Food Delivery, the Field with the Highest Conversion Rate
Food delivery is the market segment with the highest conversion rate (11.11%), followed by a considerable difference from online stores that offer food and livestock products (5.14%), services (3.67 %) and books (3.64%). Food delivery consists of the total amount of the restaurants’ delivery services, plus the stores and independent companies’ food delivery system.
On the opposite side, the market segment with the smallest conversion rate consists of the online stores that sell products sold in supermarkets (0.21%) and beverages (0.21%).
The desktop still delivers the most conversions
Although mobile traffic is rapidly increasing from year to year (mobile traffic is expected to account for 95% of the total registered by 2023, as compared to 85% as it stands now), statistics show that Romanians prefer to complete transactions on a desktop, rather than mobile or tablet. Thus, the desktop conversion rate is 1.45%, as opposed to the mobile conversion rate of only 0.66%.
“This year we will try to help even more online stores in Romania by launching an experimental software product developed with the support of the EU non-reimbursable funding, through the Competitiveness Operational Program (2014-2020). It uses a machine learning algorithm and will allow online stores to launch interactions with visitors based on their real-time behavior.
To run a successful A / B testing experiment, it takes 2-3 weeks for a team of five experts: a conversion specialist, a data analyst, a designer, a front-end developer, and a QA. With Omniconvert Automated, dozens of experiments can be launched in just a few hours by one individual. For now, we can not quantify the exact impact it will have on the conversion rate, being a new product, but there is a huge potential, considering the current situation: an average conversion rate of only 1% of online stores, a limited number of specialists in the field, and low CRO expertise in the field,” said Valentin Radu, Omniconvert CEO.
Omniconvert is a software marketing company founded in 2013 in Romania. The Omniconvert Platform helps thousands of websites around the world launch A / B test experiments, polls/surveys and customize the visitors’ experience to ultimately optimize their conversion rates. Companies like Orange, Avon, Whirlpool, or WWF are using Omniconvert’ services and technology.