The worldwide e-retail sales, according to Statista in 2017 was 2.3 trillion US dollars and this is expected to touch 4.48 trillion US dollars by the year 2021.
If you are a shopping buff, the go-to place for you is the internet. It is undoubtedly the biggest market place on earth. As ecommerce businesses vie for your attention, you have plenty of options to choose from when you are on the internet. Yes, ecommerce business is a growing market, but not everyone on the internet is doing brisk business.
With competition in the ecommerce business growing thick and fast, just offering exciting deals and variety is not sufficient to move ahead of your rivals. You need to provide a good user experience to your customers if you want to scale new heights and beat the competition in the ecommerce business. And, site reliability, user-friendliness, and speed of your ecommerce site are the three main things that can help improve your customer’s user experience. Of the three, load speed is by far the most significant criteria that affect your conversion rates and subsequently your sales.
Only a one second delay in the load speed of your ecommerce site can cause a 7% dip in your conversion rates.
It is not surprising to note that on an average the load speeds of the sites on the first page of the Google search results are less than 2000 milliseconds.
The significance of the load speeds of your ecommerce site is pretty clear from these statistics.
If you are in the ecommerce business (or planning to start one), you need to understand that your site should load fast enough or else it is difficult to flourish in this business. Also, if you are worried about your conversion rates, then load speed could be one of the reasons.
To find out the reasons why you need to improve the load speed of your ecommerce site, read on.
The significance of page load speed for your ecommerce site
Are you aware, 2018 has been declared as the year of the customer? Customers these days are short on time and patience. If your ecommerce site takes too long to load, your prospective customers are bound to get disillusioned. Therefore, one thing that you need to make sure is that your site loads at a lightning fast speed.
The overall time it takes for the content of your website to load is known as the load time.
There is sufficient proof to suggest that slow load speed of your site adversely affects your conversions, sales, and revenue.
Bad customer experience does not end with one person; it has a rippling effect. It leads to negative word of mouth publicity that can cause a lot of damage to your ecommerce business.
Even a few seconds delay can make a big difference in your conversions and sales.
Here are some of the reasons why you need to increase the load speed of your ecommerce site
In ecommerce business, if you start losing customers due to slow load speed of your site, then it becomes difficult to climb the success ladder. Slow load speed can lead to a dip in the conversion rates causing your sales to drop resulting in a decline in your overall profits. Hence, it is vital that you work towards increasing the load speed of your ecommerce site.
Here is why you need to increase the load speed of your ecommerce site:
Slow load speed creates a negative first impression – On the internet, a positive first impression makes a lot of difference. It does not take long for your customers to form an opinion about you and your business, be it positive or negative. A good first impression can tremendously benefit your ecommerce business. You can never leave a positive first impression on your customers if the load speed of your ecommerce site is slow. A negative first impression creates a poor user experience which is a big irritant among the online shoppers. If your site loads faster, it is considered as professional and reliable. Also, speed is generally associated with confidence, trust, and efficiency. On the contrary, a slow site creates a negative first impression, and people consider your site to be unreliable, unprofessional, and insecure. Moreover, it is not easy to change the first impression of your customers. In the ecommerce business, you generally don’t get a second chance easily; hence you need to make sure that the load speed of your site is fast.
Slow load speed causes poor customer experience – You have to look after your customers well or else they will desert you. If your customers are not happy with the experience, your sales and conversions can go for a toss. You have to give your customers what they want and when they need it. And, without any doubt, fast load speed is known to improve the overall experience of your customers. You should try to give your customers what they want, and give it to them fast. If your ecommerce site takes too long to load, it only frustrates your customers. Hence, if you want to improve your customer’s experience, you need to make sure that the load speed of your ecommerce site is fast.
Websites with slow load speeds rank lower on the Google search result – It has been the constant endeavour of Google to make the web user-friendly, useful, and fast. If your ecommerce site does not load faster, you can see a drop in your ranking on the Google search results. It is not in the interest of your ecommerce business to ignore Google. Hence, you need to make sure that your site loads faster.
Customers expect sites to load faster – It is difficult to survive in the ecommerce business if your site does not load faster. Customers these days are short on patience, they want instant replies and quick answers. In case your site takes too long to load, customers can abandon your site and move on to your competitors and rivals for quick results. Customers these days expect websites to load faster, and if it does not load faster, they quickly move on to the next one. People might wait sometime longer if you are an established name in the market, but they are generally not kind enough if you are a start-up or a small entity.
Slow site load speed results in lower conversions and sales – This is the worst that can happen to an ecommerce store. You, of course, don’t want your conversions and sales to drop because of the slow load speed of your site. You are in the ecommerce business to make money, and you just cannot let your conversion rate and sales to drop. Hence, if you want your conversion rates and sales to improve, you should make sure that the load speed of your ecommerce store is fast.
If you want your ecommerce store to flourish, you need to make sure that you design it aesthetically, come up with exciting offers, and increase the load speed of your site.
In case you are planning to start your ecommerce store and want the load speed of your site to be faster, get in touch with vStacks Software Solutions.
You can also contact vStacks Software Solutions if you have an existing ecommerce store, and you are facing conversion problem due to slow load speed of your site. From designing your ecommerce site to hosting it, vStacks Software Solutions can help you reach the top in the business quickly and swiftly.