Internet is an important part of our daily life and with the increasing number of internet users made it mandatory for every company to go online. At June’19, 4,422 million users that forms 57.3% of world population were using the Internet

Page load speed is the first thing you notice when you visit a website. Page speed plays a huge part of the user experience and studies shows that if the average load time exceeds 3 seconds, the abandonment rates increases to 53% of mobile users.

Some facts on website speed:

·         53% of visitors abandon a website if it takes more than 3 seconds to load

·         Average load time of a web page is 3.21 seconds

·         52% of online shoppers said that a quick page load is important to their site loyalty

·         47% of visitors expect a web page to load in 2 seconds or less

·         77% of websites take more than 10 seconds to load on mobile

·         1-second delay in page response can result in a 7% reduction in conversions

·         On average, it takes a mobile page 15.3 seconds to load fully

·         79% of web shoppers who have trouble with website performance say they won’t return to the site again.

Users have different expectation and experience depending on whether they are using mobile or desktop. 21% of Mobile internet users expect a web-browsing experience on their mobile to be comparable to what they get on their desktop or laptop while 12% of users expect their websites loading speed on their mobile to be faster than their desktop

 

Overview of Website Load Time Statistics & Impact on Revenue (2019 Research) [hide]

Factors impacting the website speed

·         Connection speed – The type of internet connection you have will directly affect the speed at which any website loads. The faster the connection speed is the faster will be the web pages loading speed

·         Third-party online ad network – Online advertisements is one of the major ways to monetise your site. These ad network codes are based on JavaScript that can also slow down a website.

·         The location of your server – This is the most important factor that impact the speed of a website. If location of the server is closer to people, they access it quicker. if the server is in other countries, then the connection must go through many different open networks, so the website loading speed decreases   

·         Website data size – If the website has too many images that will increase the load time of website

·         Data buffering in the browser – Widgets and plugins are meant to add more useful features on your site. However, too many of these can cause your web pages to load slowly. As a matter of fact, the more plugins and widgets you install, the more work it requires on your website while it loads.

 

 

 

Impact of slow website speed

There are no denying fast website matters to a business and a slow loading website can have a significant impact on an online business

·         Bounce rate increases 39% of people leave a website if images load too long or don’t load al all. 74% of users leave a website if loading time is more than 5 sec

·         Revenue drop – Website slow loading speed cost online retailers US$18 billion per year due to abandoned shopping carts. 43% of buyers shall go to a competitor’s website if they have negative mobile experience

·         Negative publicity – It also leads to negative word of mouth publicity as 44% customers shares bad experience with friends

·         Customer loyalty – 52% of customers said quick website page loading speed is important to their loyalty. A 1 sec delay decreases customer satisfaction by 16%

·         Page traffic drop – A 1 sec delay in page load time means 11% decline in page views and an extra 0.5 sec in each search generations would cause traffic to drop by 20%

·         Customer experience – 75% of users shall not return if it takes more than 4 sec and 79% of users are less likely to buy again from the site again if they are dissatisfied with website performance

·         Checkout rate – 46% of online buyers decides if they shall come back on the basis of checkout speed while 44% of online customers worry about the success of the transactions when a checkout page takes too long

·         Abandonment – 40% of customers abandon a website that takes more than 3 sec to load while A 2 sec website loading delay during a transaction can result in abandonment rates of up to 87%. For ex. Yahoo reduced their webpage load time by 0.4 sec which resulted in increase in traffic by 9%

 

·         Conversion – The average peak load time for conversions is 2 sec which is faster than millions of website and A 1 sec delay in page response can result in 7% decrease in conversion

References:

  • 1)    Sneeit.com/link

    2)    Aqusagtechnologies.com/link

    3)    Hostingtribunal.com /link

    4)    Hobo-web.co.uk/link