Every ecommerce session has an outcome and site speed plays a big role in whether customers buy or bounce.
Ecommerce brands on Salesforce have suspected for some time that site speed and conversions are linked. When pages load quickly, shoppers typically stay on a site longer, giving brands an opportunity to present more of their product line to a potential buyer. It makes sense that as shoppers learn more about a product, the more likely they will be to buy it.
But until now, ecommerce retailers didn’t know exactly how fast site load time had to be to make the difference between a shopper buying or bouncing.
Fortunately, brands no longer need to make assumptions about how quickly their sites must load to avoid customers bouncing from their site to a competitor’s. The recently launched benchmark — The Site Speed Standard — is now available on the Ecommerce SpeedHub, proving that site speed impacts conversion rate. In fact, the data shows that just one second can be the difference between customers buying and bouncing.
Saving the Second on your Ecommerce Site
The Site Speed Standard is a key component of the Ecommerce Speed Hub, an interactive database of benchmark data collected from over 200 retail brands and more than 25 billion page views. The data allows online retailers to see the impact of page load speed on conversion rates and the overall shopper experience across different devices. Brands can also compare their site performance against data from over 200 leading ecommerce sites, many of which are on SFCC. But most importantly, the Site Speed Standard proves that speed always wins when it comes to increasing conversions. In fact, when brands reduce page load times by just one second, the results speak for themselves:
- Conversion rates increase by 5.7% on mobile and 3.3% on desktop
- Bounce rate reduces by 12.2% across the board
- Page views increase by .38 pages on mobile and .52 pages on desktop
* Note that these results can be expected for every second of page load time that brands can reduce.
Why Site Speed Is Vital to Your Bottom Line
As you might expect, when page load time slows down, conversion rates fall, and bounce rates rise. When comparing the extremes of page load time averages, we see an almost exact negative correlation; the fastest load times see double the conversion rates and half the bounce rates.
So, how fast does your site have to be to end up on the right side of the equation? The Site Speed Standard benchmark data shows that pages that load in less than 4 seconds win 59% of the conversions, and those that exceed the four-second mark experience 58% of the bounces. However, sites that load in 2.5 seconds or less are the biggest winners when it comes to shoppers visiting their checkout pages.
What it all Means for Your Salesforce Ecommerce Site
Fast ecommerce sites have a strong advantage. It’s clear that slow site speed derails the shopping experience for customers and contributes to bounce rates for brands. Every ecommerce shopping session has an outcome, and site speed plays a big role in that outcome. We work with our partners at YOTTAA to give our clients data-driven knowledge they need to take control of their Salesforce ecommerce site. Want to learn more?