Slow E-Commerce Website Speed Leads to Revenue Loss. Here’s the Proof

3 seconds: That’s exactly the amount of time it takes for visitors to get impatient and abandon your website.

As users are becoming more internet friendly, attention spans are decreasing. Visitors are always on the look for shiny or enticing content and take no time in moving onto the next screen or page. At the same time, visitors’ expectations are also increasing. They are browsing and buying products online while expecting to have a smooth experience throughout the buying journey. So, what happens if your website speed is low and their expectations are not met? Your visitors will leave the website and you will lose out on sales, leads and opportunities. Your revenue will suffer as a result.

Gone in seconds

Even a milliseconds delay is a matter of concern in the e-commerce business. Two seconds is the starting point for e-commerce website acceptability. (Source – Google) The probability of bounce rate increases by 32% as a page starts loading from 1sec to 3sec.

A thorough research conducted by Kissmetrics, reveals a few facts that speak for themselves:

  • 57% of visitors leave the website if a page takes more than 3 seconds to load.
  • 47% of people set an expectation of less than 2 seconds for a website to load.

Here’s another fact that can almost give chills:

  • A 1 second delay in page response can result in a 7% reduction in conversions, meaning a whooping loss of $2.5 million sales per year for an e-commerce site that generates $100,000 per day.

Now, you know why each second is pretty expensive and can cost you a fortune!

Slow website kills: Reasons for slow loading website

Slow website eats up your revenue. Let’s look at a few common problems that are contributing to slow websites:

  • Plugins are weighing your site down. Too many plugins can trouble your website and cause poor performance.
  • Large media files are amounting to increase in loading times.
  • Your sites CSS isn’t optimized.
  • You are forgetting to use a content delivery network.
  • Caching issues are restricting optimized page loading.

Enough scary stories and facts! It’s time to find out solutions to improve poor website performance and boost your business.

Lighten your website load: Decrease page load time

Pay attention to your sites loading time. Below are a few remedies to fix your page load speeds:

Web Hosts: One of the easiest ways to speed up your website is to look at your web server. Consider changing your hosting plan if you are still relying on traditional shared hosting. Opt for cloud hosting instead. Cloud hosting offers more control over how users can customize their servers and install the required software.

Distributed Cache (CDN):  Ensure that you have a Content Delivery Network (CDN) system to speed up the delivery of online content. These CDN systems help in sharing the static files of a website, such as images, videos, CSS or JavaScript and deliver them from the server closest to the user’s physical location. For example, when a user clicks on a video, the file loads faster because it is distributed from a nearby server. Websites use CDNs to ensure a seamless and faster experience for its visitors from around the world.

Use plugins: Plugins can make your life simpler. Almost 50% of the 172 million websites worldwide run on WordPress. While using plugins, make sure to ditch the old ones. Old plugins decrease website performance and sometimes are also prone to security threats.

Optimize your images: According to HTTP Archive, 61% of a website’s page weight is images. The image size in particular, greatly affect the speeds of a website. A websites speed is directly proportional to the size of content, meaning the larger the content, the slower the site. Compressing the file size of an image is a great solution in fastening the speed of your website.

Compress your content: Optimizing content drastically improves your website performance, particularly grouping JavaScript and CSS files.

Besides the above tips, you can rely on speed assessment tools such as Pingdom and Google PageSpeed Insights for an extensive list of improvement suggestions.

Conclusion

Your site’s speed can contribute to the rise and fall of your business. Keep in mind that, for every second that you decrease load time, you will be gaining the confidence of your customers and thereby improve conversion rates. According to research carried out by DoubleClick, a subsidiary of Google which develops digital advertising: “Sites that load in 5 seconds vs 19 seconds experience: 25% higher ad viewability, 70% higher average sessions and 35% lower bounce rates.”

To start improving your site loading time, it is first important to find out how fast your site loads. Fix the basics first, then you would be able to discover advanced strategies to improve the loading time.

What strategy would you implement first to boost your business? Leave a reply!

Anosua Chakraborty
A writer and a life-long learner are what describe Anosua the best. She holds immense educational experience with her Mass Communication (M.A) degree and ongoing PhD in Media & Communication. Professionally, Anosua has 5 years of experience in curating and strategizing corporate and academic content, which is the result of her passion for writing and creativity. Her expertise as a writer includes copywriting, content designing, content strategy, and developing e-learning modules & course curriculum.

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