Google and Deloitte combined forces to look at mobile load times for 30 days across four verticals:
- Retail
- Luxury
- Travel
- Lead generation (such as insurance or auto sites)
The results, published in a Whitepaper titled “Milliseconds make Millions,” were clear:
1. Faster sites mean more customers will reach checkout
SOURCE: Think with Google
2. Faster sites encourage people to stay longer and purchase more
SOURCE: Think with Google
3. Faster sites have lower bounce rates
Speed has a direct impact on user experience. Speed plays a vital role in the success of any digital initiative, and is pronounced on e-commerce and other transactional sites. 70% of consumers admit that page speed impacts their willingness to buy from an online retailer and in the US, latency is the number one reason why consumers decide to abandon mobile sites, with 10% blaming slow downloads as a reason for not purchasing.
You can test your site load speed with this free resource from Google.