With a new year comes new buying trends in the eCommerce world.
Every year there are brand new trends that some would never see coming, but FOMO ensures people follow the trends.
Why is Conversion Rate Important?
Your conversion rate is the percentage of your eCommerce website visitors that convert.
The term "convert" refers to the action that you want your visitors to do. The action can be
- clicking a link
- pressing a CTA button
- completing a purchase.
Conversion Rate = (Conversions / Total # of Visitors) * 100
What is a good conversion rate?
There are lots of important eCommerce review statistics you need to know, but the most important is the ideal conversion rate. Well, for eCommerce a good conversion rate is between 2-5%.
It's a good idea to be tracking your conversion rate monthly to determine how your store is performing and optimizing it.
Optimizing your conversion rate will help lower your customer acquisition cost and increase your revenue per website visitor.
If you are looking to enter the eCommerce space for the first time as an independent brand or as a dropshipping store, you might want to enter an industry with a high conversion rate.
But what are the top 10 industries with the best conversion rates? We rounded them up for you...
High Conversion Rate eCommerce Niches
Gifts - 2.79%
Health & Beauty - 2.58%
Apparel - 1.70%
Sports - 3.1%
Jewelry - 1.63%
Cosmetics - 2.92%
Major Chains - 2.3%
Home Furniture & Decor - 2.3%
Automotive - 2.2%
DIY & Tools - 1.7%
Consumer Electronics - 1.4%
*Stats from Smart Insight and StoreYa
Best eCommerce Niches with High Conversion Rates in 2023
1. Men’s Beauty Products
It's no surprise that the women's beauty industry has always been huge, but it wasn't until recently that men's beauty products started trending and gaining traffic.
Skincare is just as important for men as it is for women, as anyone would want to keep their skin looking healthy and younger. Now more than ever, it is becoming more socially acceptable for men to be using beauty products, which caused a huge demand.
Beauty companies noticed this demand, and thus the market for men's beauty products was created and had been growing ever since. I strongly believe that this industry has such a strong conversion rate because those who search for these products online are usually serious shoppers looking to buy.
2. Home Exercise Equipment
With the current worldwide pandemic going on, many public gyms have been closed for a while. These days, people cannot go to their gym regularly to exercise; they are now looking for ways to stay fit at home. For this reason alone, it makes total sense why the home exercise equipment industry has seen a huge boost in sales within the last year.
Also, with brands working with influencers to try and sell products, people purchase exercise equipment to motivate them and transform their bodies.
This industry has such a strong conversion rate since people don't waste time thinking about it; they want to buy it ASAP so they can start getting fit!
3. Online Educational Courses
With the shift to working and learning from home, it makes sense that online educational courses are such a strong industry in these current times.
Since people have been stuck at home for long periods of time, you might as well improve your education with courses that you can do from your bed!
In this day in age, it is truly amazing that you can get a diploma from your computer anywhere in the world. It's easier than ever to be able to get a full education that is customized to your skills and schedule. That's why online courses are so popular!
4. Disinfectant products
As you may have already guessed, disinfectant products surely did make the list of best eCommerce niches for 2021, given the pandemic. We all witnessed the great toilet paper shortage of 2020, and along with that, disinfectant products were so difficult to get your hands on.
Shelves would sell out in minutes and to say they are in demand is an understatement. Hand sanitizer to disinfectant wipes, these popular niche products will not be losing traction anytime soon.
It's safe to say that customers will be so quick to buy them when they find them as they are used to them selling out fast.
5. Organizational helpers
Nobody likes a cluttered house, but trying to organize it takes so much time, especially without the right tools. With the trend of minimalism and organization, it seems so fitting that people enjoy organizing their spaces with useful organizational helpers that make the job 10x easier.
The possibilities are endless for what you can organize, from kitchen cupboards to closets to desk drawers. Chances are, you can find an organizational helper online for just about any space! Like the exercise equipment examples, people easily buy these products hoping that it will make them a more organized person.
6. Smart speakers & smart home products
Technology has been apart of our everyday lives for decades, yet each year the newest gadget is released, and everyone has to have it. The recent technology trends involve smart speakers and smart home products.
Who wouldn't wanna make their lives easier and have a digital personal assistant available at any time to answer your questions?
It's easy to know the benefits and features right away, so people are willing to buy these products without much thought as they notice them in everyone else's home.
7. Natural pet care products
Natural and clean products are very trendy, especially with everyone realizing the harsh chemicals found in everyday products. People are doing everything they can to purchase natural options, including natural products for your pets! Pets can feel apart of the family, so it only makes sense to use natural products for them as well to keep them healthy.
Usually, natural products tend to be more expensive than the generic brand, but people are willing to pay a premium if it means clean ingredients and is all-natural. Especially when it comes to pets, owners love to spoil them with only the best products.
8. Natural feminine care products
Natural feminine care products have recently been a growing market as women realize all the chemicals and dyes found in some of the leading brands.
Especially with sensitive skin, women would definitely prefer a more delicate and natural product to use. Using products like this, women won't have to worry anymore about allergic reactions or skin irritations. Having that peace of mind is well worth it that women would prefer to purchase natural feminine care products if given the option.
9. Eco-friendly versions of everyday products
Fitting with the trend of natural products for pets, it's a given that eco-friendly versions of everyday products for humans are also trending. With global warming constantly at the top of everyone's mind, people are willing to do whatever they can (even if it's something small like using reusable makeup pads) to do their part in saving the environment and reducing waste.
If a customer was shown two of the same everyday products, but one said eco-friendly, many people would opt for the eco-friendly option to make them feel like they are doing good! The word eco-friendly alone has been adapted into many marketing campaigns alone just for that reason.
10. Vintage/second-hand clothing
With all the fast fashion industry's harms coming to light, people are more cautious of where they purchase their clothing from. It has been very trendy to purchase second-hand clothing at local thrift stores to find unique pieces, and at the same time, it helps reduce textile waste. People feel good about products knowing that they are also doing good for the planet!
This is why online vintage and second-hand clothing stores have seen a surge in their sales and conversion rates.
11. Organic skincare
Similar to the trends mentioned before of natural and eco-friendly products, organic is also a big word that can convince people to buy the product knowing that it is a healthy option. When it comes to skin, your body's largest organ, people are very particular on what types of products they use, especially if they have sensitive skin.
Organic skincare is definitely a trendy product, especially knowing that it is good for your body and is worth every dime. Skincare eCommerce stores even have a separate section just for organic products since there is such high demand and people are on the hunt for them.
12. Garden Accessories
With many people being at home more than they used to be, individuals have started to pick up new habits and hobbies to keep them busy around the house. When the weather is nice outside, many people have been enjoying the fresh air and working in their gardens. The garden Industry has seen an all-time high in sales in the past year for this reason.
People love having their lawn and garden in tip-top shape, and now they have the time to do it themselves rather than hiring a landscap ing company. Since they are doing it themselves, chances are they don't have all accessories and supplies that they need. So people waste no time in picking out some new garden supplies to have them delivered immediately.
Which industry will you choose?
Now you know the industries with the highest conversion rates and some specific products in those industries. Choose the one that you are most passionate about and know of to have a successful business!
Once you start your niche, make sure that you download Fera to display user generated content and reviews to your store!