There’s no denying it. Poor website speed is a downright bad SEO practice. It not only can affect your Google ranking but, according to website load time statistics, it also can affect your conversion rates. And this is especially true for retailers.
For perspective, an appropriately named Google, Fifty-Five, and Deloitte study, “Milliseconds make Millions” provides that decreasing site load times by just one-tenth of a second…
increases retail customer engagement by 5.2%.
results in an 8.4% increase in conversion rates for retail sites, when that load times decrease is on mobile.
leads to bounce rates of lead generation pages improving by 8.3%.
can boost conversion rates by 8%.
70% of people say page speed affects their willingness to buy from an online retailer.
More than 45% of people admit they are less likely to make a purchase if an eCommerce site loads slower than expected.
Amusingly, according to that same report, consumer stereotypes from coast to coast also ring true, especially when it comes to the fast-paced lives of New Yorkers versus laid-back West Coasters: 82% of New York consumers say that website speed influences their decision to make a purchase, while only 60% of Californians are hung up on website speed.
All this to say, website speed and page load times are big businesses for small businesses, particularly in the retail industry. And you might want to be cognizant of your target consumer, geographically and also depending on their device preferences. Consider: More than half of overall web traffic comes from mobile, and 53 percent of mobile site visitors will leave a page if it takes longer than three seconds to load.
So, whether you’re making moves to improve your website for a post-COVID-19 world or are seeking new ways to improve our business’s bottom line, website load times should be top of mind.
To help determine whether your site is fast enough, pore over some more website load time statistics and tips to ramp up your site’s speed in the infographic below.