Get this: a mere 100-millisecond delay in page load time can lower conversions by up to 7%. That’s right, in the fast-paced world of ecommerce, even seemingly minuscule details like page load time can significantly impact conversion rates.
One pivotal study conducted by Akamai in Spring 2017, entitled “The State of Online Retail Performance,” has shed light on just how consequential load times can be to overall sales. The findings from the report illustrate how much consumers value instant gratification and seamless online experiences. With countless online retail options, consumers are increasingly unwilling to tolerate delays and inefficiencies. If a webpage doesn’t load promptly, many shoppers simply move onto a competing site, translating into lost sales for the slower website.
But, like, does it really matter?
So, how do these statistics translate into real-world consequences for ecommerce businesses? Let’s consider an ecommerce business that makes $100,000 per day. A 7% loss in conversion due to a 100-millisecond delay in page load time would equate to a staggering $7,000 per day or over $2.5 million per year.
Moreover, beyond immediate sales, the long-term customer loyalty and brand reputation effects can be profound. Consistently slow loading times may dissuade potential repeat customers, leading to a potential downward spiral in conversion rates and overall sales.
The Akamai study underscores the importance of a fast, efficient, and smooth online shopping experience. In the competitive landscape of ecommerce, businesses must prioritize optimizing their websites’ load times to retain customers, maximize conversion rates, and ultimately, secure their bottom lines.
For more detailed information about how page load time can lower conversions, take a look at the full Akamai report here.
Remember, time is money, and in the world of ecommerce, every millisecond counts.