What is it costing my business to have performance issues?

Did you know that milliseconds could be costing your e-commerce business millions? Yep, we're talking about site performance and how small changes can make a massive difference to your bottom line. Let's dive into what the data says!

A study by Google and Deloitte called Milliseconds Make Millions analyzed mobile site data from 37 brands across retail, travel, luxury, and lead generation industries. The results? Even a tiny 0.1-second improvement in load time boosted conversion rates by 8% for retail sites and 10% for travel sites. For e-commerce businesses, this can mean more revenue, happier customers, and staying ahead of the competition.

And it’s not just about conversions. Faster site speeds led retail consumers to spend nearly 10% more, while luxury and lead generation sites saw page views jump by 7% and 8%. It's clear: customers reward speed with their attention and their wallets.

But let’s get real—what happens when your site is slow? According to another report, The State of Online Retail Performance, just a 100-millisecond delay in load time can hurt conversion rates by up to 7%. A two-second delay? That can increase bounce rates by a whopping 103%! It’s no wonder customers abandon ship when your site doesn’t meet their expectations.

The ideal load time to keep users engaged and converting is between 1.8 and 2.7 seconds. Pages with the lowest bounce rates loaded in less than 1.2 seconds. The faster your site, the longer customers stick around.

So, what’s the solution? For starters, adopt a mobile-first mindset. Create experiences tailored for mobile rather than just adapting your desktop site. And consider implementing a 'speed budget' for your website. This means allocating resources to ensure your site stays fast as you add content and features.

Here are three action items you need to keep your site fast:

• Regularly monitor your site’s load times.
• Optimize images and code to reduce page weight.
• Prioritize speed as a key performance metric across your organization.

This is precisely what our services do for you, so all you have to do is sign up, we’ll take care of it and you can rest easy.

At the end of the day, investing in site speed isn’t just about technology; it’s about creating a seamless experience for your customers. And in a competitive e-commerce landscape, every millisecond counts.

We built the Loss Calculator to help visualize your hypothetical losses based on some industry standard values. Please check out the loss calculator or our loss queries, above, to see what your real-world losses could be.

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