What is a good conversion rate for an online store?

Between 1% and 3% for most stores, and the number matters far less than the direction. A 4% conversion rate on the wrong traffic is worth less than 1.5% on the right traffic.

In more detail

Compare against yourself over time rather than against a published benchmark, and always separate mobile from desktop and paid from organic. Averaging those together produces a number that cannot be acted on.

What to do about it

The slowest part of most mobile stores is images nobody resized. It is the most common performance problem and the easiest to fix.

Discounting to grow trains customers to wait for discounts. It works once and costs afterwards.

Traffic is the expensive problem and conversion is the cheap one. Doubling a 1% conversion rate is usually easier than doubling visitors, and costs nothing per month.

The mobile app angle

Push notifications are the one growth channel you do not rent. Every other route to a customer is paid for again each time.