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In the age, when the entire world relies on the internet to accomplish even the minute tasks, there is no space for slow loading websites.
According to Statista research, over 2 billion people are expected to purchase goods and services online in 2019. Out of those 2 billion people, 47% of them expect to load a web page in two seconds or less, and 40% for them will leave the site if the load time is three or more seconds.
It’s that simple. No one likes a web page that loads slowly. Even search engines don’t work rank them high. Whether it is Google, Bing or Yandex, all work to make the websites faster and strive to offer an excellent user experience.
How Does ‘Page Speed’ Affects Your Website
Page speed is how fast the content, products, and services load on your website.
Faster load times bring more conversions, while slow page speed incites users to browse through a competitor’s website. There are 79% of customers who are dissatisfied by website’s speed and say that they won’t buy from that site again.
According to Neil Patel, a slight 1-second delay in the page load time leads to a 7% loss in conversions.
So, if an e-commerce website makes $100,000 per day, a 1-second delay in load time can cost potentially $2.5 million loss in sales every year.
With this said, it is no surprise that the online success of your business is tied directly to the speed of your website.
If you are keen to learn more stats about how website speed affects the buyer’s decisions, customer experience, revenues, and conversions, below is a graphic from Hostingtribunal.com, a website that test hosting services for speed and reliability to provide unbiased hosting reviews.