In eCommerce, conversion rate refers to the percentage of visitors who completes purchases and becomes a customer. It is natural that eCommerce every store owner would like to have higher conversion rates for revenue growth.
Bounce rates, on the other hand, are the percentage of visitors who visit a page briefly and leave shortly after. A higher bounce rate is bad news to the store owners.
Both these metrics are pretty important because conversions happen only when visitors stay engaged on content and product description pages.