The importance of e-commerce site speed

A growing body of research has shown a definitive link between website performance and customer satisfaction. Just consider these statistics:

Published: 20. Mar 2015
browsing internet on tablet
  • 47% of customers expect a website to load in 2 seconds or less
  • 40% of customers will abandon a website that takes more than 3 seconds to load
  • Every second that customers have to wait longer than 3 seconds reduces their satisfaction by 16%
  • 79% of customers who are dissatisfied with website performance are less likely to make a repeat purchase.
  • 44% of online shoppers tell friends and family about a bad online shopping experience

(Source)

These are sobering numbers for any online retailer, and they underscore just how essential it is to improve ecommerce site speed. Here are a few of the drawbacks of a slow ecommerce site:

 

  • You’ll waste your marketing budget. You probably spend a lot of money and effort to acquire new customers, but if your site takes too long to load, you alienate them the minute they click on your store. Not only have you lost a sale, but you’ve also lost the money you spent marketing your company.
  • Potential business goes to your competitors. Poor site performance reflects poorly on your company, not the products or services you sell. That means unhappy customers will likely go looking for the same products or services somewhere else and will end up shopping with your competitors. If you don’t make a serious effort to improve ecommerce site speed, you’ll eliminate your competitive edge.
  • You force yourself to make drastic decisions. If your site is slow, customers will purchase less, return rarely, and spread a negative image of your company. That has a huge effect on your total customer base and forces you to operate in crisis mode. You might find yourself slashing prices, offering desperate deals, and cutting deep into your bottom line trying to get back in customers’ good graces. The easy solution would be to simply improve ecommerce site speed instead.

Are you misled by these 3 common web perf myths?