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Definitive Proof that Site Speed Impacts Conversions via new data from over 200 retail brands and more than 20 billion page views
As the eCommerce industry becomes more and more savvy to the benefits of a fast site, the actual impact of site speed and performance is largely unknown. Does it really improve site KPIs? And if so, how much? The correlation between a faster site and more sales is not a new idea, and generally is something many of us have always suspected - but the actual industry data backing it up has been lacking.
While many retailers do their research, the most well-known data available on the topic was gathered years ago by industry giants like Amazon and Walmart. But how can retailers relate to these massive brands?
The answer is finally here, and we now have the fresh, definitive, proof that site performance impacts conversion.
An eCommerce analyst, Leading Lights, has cracked the code with actual data from real eCommerce sites – no assumptions or guestimates here.
Unlike the older data used to benchmark eCommerce site speed, (like Amazon and Walmart’s findings) this data was captured in April of 2021and provides insightful, relevant, and fresh data from over 200 eCommerce sites from wide range of brand sizes.
The findings have been compiled into an easy to use, dynamic, and interactive benchmark data set for online brands called The Site Speed Standard, a section of the new eCommerce SpeedHub that can be found here.
As the first of its kind, the Site Speed Standard gives online retailers the ability to see firsthand how page load time affects customer experience, and ultimately, conversion rates. Brands can also use the Site Speed Standard to learn how their sites perform against data from other eCommerce sites. With data from over 200 retail brands and more than 20 billion page views, the Site Speed Standard is the authority on site performance benchmark data.
The Site Speed Standard breaks down the data into three main categories, each with their own data-driven set of key findings:
Now that it's finally here, eCommerce brands have the ammunition they need to start increasing conversion rate. These benchmarking data points shine a light on a theory that was lurking in the shadows for years. The best part? Brands now have a clear roadmap to answer all the questions regarding how fast their sites should be, what results to anticipate from those speeds, and which areas to focus on when optimizing their sites.
Don't wait. Check out the Site Speed Standard today!