Why speed matters
One of the main factors for a good conversion rate and low cart abandonment is page speed. A rule of thumb: if a page takes more than 3 seconds to load, it will encounter a loss in traffic, resulting in a high abandonment rate. Page speed is also a SEO ranking factor.
KISSmetrics made a cool infographic about loading time, which you can check here: https://blog.kissmetrics.com, while we’ll just leave you with the important numbers you need to keep in mind:
- More than 80% of users expect a website to load within 3 seconds.
- 40% of users leave the page if the load time is longer than 3 seconds.
- An average user is willing to wait max. 2.078 seconds for a page to load.
- Around 47% of users expect a page to load in 2 seconds or less.
- If the page loads between 1 and 2 seconds, visitor numbers rise by 2%.
- A page speed increase of 1 second will probably bring you about a 7% rise in conversion.
- 1 second of load lag would cost Amazon $1.6 billion in sales per year.
- Wal-Mart showed a 2% increase in conversions for every 1 second of improvement to their page speed.
- BBC has seen that they lose an additional 10% of users for every additional second it takes for their site to load.
Magento is known to have a lot of speed issues, e.g. if you just check the Magento2 Github repo you can find around 250 issues with the keyword “slow” https://github.com/. However, Magento is not slow by itself, it is we, the developers, who make it slow :)