Definition
The transaction rate can be defined as the percentage of people who purchased the product after adding it to the cart. It is calculated by dividing the Purchases by Add to carts.
Benchmark
Industry | Benchmark (%) |
Accessories | 12-20 |
Apparel | 10-15 |
Shoes | 10-15 |
Sports | 15-20 |
Ayurveda | 15-20 |
How can I improve the website transaction rate?
- Try implementing Guest Checkout. It lets the visitor proceed with the Checkout process without creating an account.
- Try not to have Related Products/You May Also Like section on the Cart page.
- Try incorporating a Buy Now button on the Product page so that the flow can be made smoother and the user can complete the conversion process with fewer clicks.
- Links that redirect the user to the Homepage/away from the Checkout page should be avoided.
- Make the brand logo unclickable so that the user is not redirected to the Homepage.
- No additional charges should be displayed on the Cart/Checkout page. Any taxes/shipping charges should be included in the product price.