Annual Benchmark Shows Direct Correlation Between Fast Site Speed And Higher Conversion For eCommerce Brands
Yottaa, Inc., the leading cloud platform for accelerating eCommerce, announced the publication of the 2022 eCommerce Site Speed Standard, an annual benchmark that measures the experience and revenue impact of eCommerce site speed and performance, drawing on the shopping activity of more than 16 billion page views across 250 leading retailers.
For the 2022 Site Speed Standard, Yottaa collaborated with Leading Lights to quantify the impact of speed on eCommerce sites. Leading Lights is an eCommerce benchmarking firm focused on identifying the critical insights that brands and retailers need to know. Leading Lights has benchmarked billions of shopper visits generating tens of billions in GMV across eCommerce, organic search, marketplaces, site speed, marketing, and more.
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“Making shoppers wait for pages to load is an eCommerce site’s enemy. The 2022 Site Speed Standard clearly demonstrates that slow page loads lead to the worst kind of visits – bounces. Alternatively, faster loading pages result in more conversions and higher online revenue.”
Key Findings of the 2022 Site Speed Standard
- Shaving just one second of page load time off an eCommerce site provides a 5.9% increase in conversion
- When eCommerce page loads exceed 4 seconds, 66% of shoppers bounce
- Optimized eCommerce sites save shoppers 23 seconds per journey
- The most popular page – the product detail page – loads 2 seconds faster when optimized for site speed
- When optimized, even the heaviest of eCommerce pages loads faster than unoptimized lighter pages
While the 2022 eCommerce Site Speed Standard provides data across the entire eCommerce market, the data can also be used to gain insight into different retail vertical markets as well as eCommerce platforms used by online brands. The launch of this year’s Site Speed Standard includes findings around brands using Salesforce Commerce Cloud.
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These findings include:
- When page loads exceed 6 seconds on sites using Salesforce Commerce Cloud, bounce rate reaches 70% on mobile
- Across their journey, shoppers on Salesforce Commerce Cloud sites view 16 pages on mobile on average
- Optimizing page load speed on Salesforce Commerce Cloud sites saves 34 seconds of page load time on mobile
- Optimizing product detail pages on these sites saves 2.4 seconds
- 62% of bounces on Salesforce Commerce Cloud sites happen when page load times exceed 4 seconds
“Digital commerce is in a traffic drought, so it is imperative that online brands make the most of every shopper visit,” said Rick Kenney, Managing Director of Leading Lights. “Making shoppers wait for pages to load is an eCommerce site’s enemy. The 2022 Site Speed Standard clearly demonstrates that slow page loads lead to the worst kind of visits – bounces. Alternatively, faster loading pages result in more conversions and higher online revenue.”