The food and drink retail segment experienced steady year-over-year growth for several KPIs across Google, Facebook, and Instagram. New food retail industry analysis from Sidecar’s 2021 Benchmarks Report details the strongest growth in conversion rate across Google Ads and Instagram.
Check out some of the biggest food retail industry analysis from the report below.
Food & Drink Retailers See Above-Average CVR in 2020
The COVID-19 pandemic ushered in a sustained period of quarantine throughout 2020. Consumers stocked up on food and supplies at the height of the pandemic during the summer months, which likely contributed to high conversion rates for food and drink retailers online.
Of the 14 verticals examined in the 2021 Benchmarks Report, the food and drink segment experienced the highest CVR on Google Shopping, Google paid search, and Instagram Advertising. Food and drink retailers posted positive year-over-year CVR growth in each of these three ad platforms.
On Google Shopping, the average CVR for food and drink retailers was 3.50% in 2020. That was 31% higher than the retail average of 2.68% in the advertising channel. Google paid search CVR was 9.37% in this vertical, 48% higher than the retail average. On Instagram, CVR was 14% higher than the retail average.
Get More Food Retail Industry Analysis Like This
Want more food retail industry analysis? Access the 2021 Benchmarks Report and receive insight across five ad platforms, 16 retail segments, and three spend tiers. Now in its fifth year, the award-winning Benchmarks series is the most comprehensive analysis of ad performance in the retail industry. See why the report won the ITSMA Award for Marketing Excellence in 2020.