To Improve Transaction Conversions: Aim for a 0-2 Second Load Time
Zero to 2 seconds sounds astonishingly fast. But when website users are accustomed to fast load time across the web, slower sites are penalized when visitors abandon the site visit in favor of a faster website to make a transaction.
The highest e-commerce conversion rates occur between 0 and 2 seconds, spanning an average of 8.11% e-commerce conversion rate at less than 1 second, down to a 2.20% e-commerce conversion rate at a 5 second load time. After that, conversion rates are largely below 2% (except for the 7-second anomaly, which briefly returns to 2.11%).
Between seconds 0 and 5, the e-commerce conversion rate decreases by an average of 1.2% for every additional second it takes for your website to load. But we see a consistent correlation between faster loading pages and higher instances of e-commerce conversions.
Screenshot of transaction conversion rates of sites studied
Quick math to further demonstrate this point:
If 100 people visit your website for a $50 product, this could illustrate the difference in your potential earnings:
A <1 second page load time at an 8.11% conversion rate results in $405.50
A 1 second page load time at a 6.32% conversion rate results in $316.00
A 2 second page load time at a 4.64% conversion rate results in $232.00
A 3 second page load time at a 2.93% conversion rate results in $146.50
In the span of ~4 seconds, potential sales have dropped by just over $250. Multiply that across more visitors to the websites, and potentially higher-priced products and services, and that results in significant gaps in potential revenue.
Some Pages Matter More Than Others
Hardly news, but faster checkout, login, and home pages matter most. After that, load speed for product category pages have the most impact on sales. All of these pages have high consumer-intent traffic. Make them fast.