How the speed of your website can influence profits: 3 reasons that you need to consider

How the speed of your website can influence profits: 3 reasons that you need to consider

As we have seen in this article, site speed is a key component to consider in order not to lose potential sales on mobile devices. We can say that having a website today is essential to not lose potential purchases on mobile, but no more enough. Every brand should have a fast website: the loading time of the pages should not be neglected.
Consumers today don’t want to lose time or wait. On average, whenever page load time takes 1 second longer, purchases decrease by 20% (Source:¬†Google).
What’s the reason? A Google and Deloitte study demonstrated which are the main reasons that hinder a slow website, let’s analyze them:

1. The user doesn't go to the payment step

When the user arrives on a website he starts his path that should lead to a payment. Obviously between pages the user will need to wait some time, depending on how much the website is fast. When this time increases too much it could lead to customer abandoning the website. That’s why¬†slowness¬†of a website can hinder the customer progression through the purchase funnel, diminishing progress to the next step and¬†preventing him from reaching the payment step¬†and therefore the completion of the purchase.

The moment users are most sensible to the loading speed is the transition from the product page to the cart one. In particular, for an eCommerce of retail products, decreasing by only 0.1s the loading of the page “Add to cart”, the rate of progress to the next stage increases by +9.1%.

In conclusion, to make the user do the whole path until the payment completion, it is necessary to reduce the loading time of each page that the user might visit during its path.

2. The user spends less time on the website

As we previously said, a slow loading can cause frustration to the customer, making him abandon the pages before the time. Because of this the time passed on the site is drastically reduced and consequently also the purchases.

On eCommerce of retail products,¬†decreasing¬†by only¬†0.1s¬†the¬†loading¬†time,¬†there’s an increment of the¬†AOV¬†(average order value) to¬†9,2%¬†and of the¬†conversion rate¬†to¬†8,4%.

3. The user is most likely to visit only one page of the site

The bounce rate is the ratio between one page sessions divided by all the sessions: the percentage of all sessions on the site in which users viewed only one page (Source: Google).
On one site in five, in the category of retail products and luxury goods, reducing loading time by just 0.1s, the bounce rate decreased from 0,6% to 0,2%, a difference of 75%.
What does it mean? It means that slow loading causes high bounce rate, so the brand doesn’t have the opportunity to show more products to the customer and, so, it loses new potential customers.

...what now?

As you’ve just read there are 3 main reasons why speed is an eCommerce key value to not lose sale and revenue possibilities.
A great tool that can solve these 3 issues is the Mobile App. Why?
The Mobile App is a mobile-friendly tool that allows for quick navigation, reducing drastically page loading times and facilitating advancing to the next step during all the purchase flow with mobile devices, starting from the home page to the payment page. This speed will lead users to want to spend more time on the App. Let me give you an example: customers of Saveone, a brand that created its mobile app with Shoppy, spend on average about 20 minutes on the app against 2 minutes from the web, this also translates into increased sales and therefore revenue for the brand 
(I advise you to read the success case of Saveone).
Shoppy could be your perfect ally to make the mobile experience better for your customers and to increase your revenue, visit and book now a free demo with our experts.