In ecommerce, conversion rate is the percentage of website visitors who actually make a purchase and become customers. Naturally, the goal of any ecommerce business is to have a high conversion rate. Average conversion rates vary by industry and by channel (email, search, social), but in general seem to hover somewhere around 3%.
Bounce rate refers to the percentage of website visitors who visit a page briefly and then, well, bounce. The success of practically any ecommerce website depends upon visitors engaging with page content, browsing different products, and completing a purchase. As such, a high bounce rate is pretty bad news.
To improve conversion rates and reduce bounce rates, businesses must invest in an engaging, high-quality ecommerce website that provides personalized value to visitors from the moment they arrive on the landing page.