E-Retail – A potential goldmine hindered by slow web performance

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Year after year we hear about Internet sales being broken. 2012 was no exception with 167million US shoppers having made purchases online – that is over half the American population (53%). The amount of Americans purchasing online is expected to rise to 192m by 2016 with Forester Research saying that e-retail will increase 62% and will make up 9% of total retail sales.

While many websites bare the fruit of this, there are those who miss out due to the poor web performance of their sites. There are designated special shopping holidays such as Black Friday which seen consumers spend $172 billion and Cyber Monday, which also seen an increase of 30% in 2012.

A study of a travel site found that 57% of Internet users will abandon the site after three seconds. When you take into account that the average load time for the top 2,000 retail sites is 10seconds – 10% faster that in 2011, but still way off meeting consumer needs – that is a lot of custom that has perhaps clicked to a site which has a faster website performance.

With Internet shopping continued to grow each year, poor load times will cost businesses even more potential revenue. Web pages get fancier and more complex each year in the hope to lure in more custom, but they are also expected to be faster. If the site is running slow, then it is a given that it is losing money.

Research has found that a 1% increase in load time can cause: 11% less page views, 16% decrease in customer satisfaction and a 7% loss in actual custom. It isn’t just web browsing from those using desktops or laptops where the losses are incurred. Mobile and tablet use increased last year with 18% of consumers using mobile devices to visit retail sites on Cyber Monday – an increase of 70% from 2011 according to IBM.

Companies should also be aware that nearly 1 in every 10 dollars is spent online via a mobile device with 9% of all e-retail happening from a mobile or tablet. One in four Americans surf the web via their mobile device. Loading times or lagging sites are not given any more leeway with mobile phone users either with 60% of users expecting a mobile site to load in under 3 seconds. 74% of users will leave a website if it doesn’t load on their smart-phone after 5 seconds.

Online shopping is a potential goldmine for many businesses, yet there are those sites which can’t deal with Internet traffic which will invariably have slow loads times and thus cost them a lot of potential revenue. Slow load times will annoy customers and almost definitely turn visitors against your brand. Prioritise for increased traffic and technology and it will help you earn more money.

Visit the following links for more information on how to enhance your web performance.

website monitoring- http://www.nccgroup.com/en/our-services/website-performance-software-testing/website-performance-monitoring/website-monitoring

website performance monitoring- http://www.nccgroup.com/en/our-services/website-performance-software-testing/website-performance-monitoring/

web performance- http://www.nccgroup.com/en/our-services/website-performance-software-testing/website-performance-optimisation

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