Website speed is one key worry in eCommerce for two key reasons. Your marketing RoI drops as customers don't wait for the page to load and your brand suffers as customers hate slow sites
A slow website kills your eCommerce:
- Your marketing RoI substantially drops as customers don't wait for the website to load
- Your brand reputation suffers as customers hate slow sites
How did we conclude this? Let's look at the stats
- One second drop in page load speed reduces the conversion by 26% (Source: Akamai)
- 70% of consumers think website speed impacts their buying decision from any specific site (Source: Unbounce)
- As page load time increases from 1 to 10 seconds, the probability of a mobile site visitor bouncing increases 123% (Source: Google/SOASTA Research)
How do we measure and optimize page performance?
Your best buddy here is the Google page speed tool (also called Google Lighthouse). Your website should score well (above 90%) here for both mobile and desktop. The tool measures the following aspects: Performance, Accessibility, Best Practices, SEO, and Progressive Web App. They are collectively termed Web Vitals
Case studies on positive RoI impact by improving web vitals
- Swappie increased mobile revenue by 42%
- Netzwelt's advertising revenue increases by 18%
- Mail.ru increased 10% conversion rate
- Renault group improved 14% points in bounce rates and 13% in conversions
- Menswear's PWA add 55% more conversions
- Blibli generates 10x more revenue per user
- Orange does 52% more conversions using PWA
- Vodafone (Italy) improved speed by 31% to achieve 8% more sales
- iCook improved achieves 10% more ad revenue
- Tokopedia saw 23% better average session duration
You can read more case studies published by Google. The writing is there on the wall.
