Online sales are on the rise and e-commerce is expected to grow at a much faster rate than offline retail. With this in mind, it’s hardly surprising that more and more businesses are working hard to build a strong online presence that often includes opening an e-shop.
Important as online stores are, there’s still a lot of misconception about what factors improve the odds for online success.
Take website speed for instance. Though many online marketers believe it is somewhat important for their businesses, they are unaware of the extent it impacts websites.
The gurus of web hosting reviews at the Hosting Tribunal created the fact-packed infographic below to show the latest stats about how page loading time affects online stores.
Meanwhile let’s bust some misconceptions related to speed and e-shops.
For starters, did you know that slow page load time negatively affects your total page views and bounce rate?
Research shows that for every second delay in page loading, you will have 11% fewer page views. Additionally, the bounce rate probability rises sharply with every small increase in page load time.
For instance, sites with load times of 5 seconds have the bounce rate probability of 90%. For sites with load times of 10 seconds, this figure is 123%. So, a 5-second delay in page loading causes bounce rate to increase by a whopping 33%.
But that’s not all. Majority of viewers who choose to stay for longer periods of time on slow online stores are likely to be unhappy with their site experience and as a result never shop there again.
52% of online shoppers rank site speed as an important loyalty factor and 64% of them will take their business elsewhere if their on-site experience is below-par.
A slow web page also means a high cart abandonment rate, which measures the number of people who add an item to their shopping carts but leave without completing the transaction.
All in all, slow page loading affects your online store in many ways. So what are you waiting for? Take a look at the graphic below and apply corrective measures immediately if your site is slow and sluggish.