Why Slow Load Times Cost Online Businesses More Money Than Many Realize

Online businesses are booming right now. From online retailers to professionals offering services over the internet the consumer of today has more choice than ever before. Yet many online businesses are losing custom thanks to one easy to fix problem – slow load times. Consumers are demanding and expect to be in your store quickly. Any delays, and they will soon go elsewhere. As the next section will show you, that delay can be a surprisingly short one!

Some Load Time Statistics

You will benefit from reading this eCommerce case study that explains things in a lot more detail than we have space for. The service provider explains:

“When this client came to us we were a little unsure why traffic was going down, but there was also a lot of chatter in the SEO community about site speed at the time. You wouldn’t know the page was slow on a visual inspection because there were a lot of background scripts that didn’t seem to slow down the initial render. That’s why running a few speed tests is a critical step to add to your standard operating procedures.’ – Blake Akers

We’ve put together some statistics that might come as a shock to you, so have a look at the following:

  • 25% of visitors will go elsewhere if a site takes four or more seconds to load
  • Almost half online consumers will not return to a website that performs badly
  • 64% of dissatisfied shoppers will go elsewhere next time
  • Pages that load within two seconds have a bounce rate of 9%, compared to a rate of 38% for those with a five second delay.

As we can see from the above, it’s clear that consumers need only a few seconds to decide. Now we want to look at why optimizing a site for mobile handsets is especially important.

Mobile vs. Desktop

Mobiles are the most commonly used devices for browsing. A survey in 2019 discovered that mobile users accounted for almost 80% of online minutes. A recent analysis covering 5 million web pages showed that while loading on a computer took an average of more than 10 seconds, the same on a mobile took almost three times as long.

It’s no surprise that the bounce rate on mobiles is 67% compared to 32% for desktops and laptops. No business can afford to run at such levels. Let’s finish by looking at the most common complaints from online consumers.

Most Common Load Time Complaints

The most common complaints that mobile browser users report are not only regards load time. However, slow load time does rank highest. Here are some further statistics for you:

  • 73% of consumers have visited a website that took too long to load.
  • 51% have encountered a site that either froze, crashed, or returned an error.
  • 48% found the formatting was poor and hard to read.

We hope the above helps you understand why you need your site fully optimized, and especially for mobile users.

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