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Page Speed and Decreased Conversion Rates: 2023 Statistics

Page Speed and Decreased Conversion Rates: 2023 Statistics

Website Operating at Acceptable Page Speed

Page speed continues to be critical for user experience. According to WebsiteBuilderExpert.com, it was found that for e-commerce sites, a one-second page delay could potentially cost $2.5 million in lost sales per year for a site making $100,000 per day. Additionally, the use of Accelerated Mobile Pages (AMP) by some site owners has been noted as a way to improve mobile page speeds​​.

Website Operating at Acceptable Page Speed

Image via Unbounce.


Visitor Bounce Rates

The bounce rate significantly increases with longer page load times. For example, a 0.1-second improvement in site speed on mobile devices can enhance conversions by 8.4%. It’s also reported that every additional third-party script on a website can slow it down by about 34.1 milliseconds​​.

Visitor Bounce Rates

Image via Pingdom.


Impact on Purchasing Decisions

Site speed continues to be a crucial factor in customer purchasing decisions. Nearly half of all customers (46%) reported they would never revisit a website with poor loading times. Furthermore, a one-second delay in your page load time may decrease customer satisfaction by 16%, and 64% of customers who have a bad experience are less likely to return​​.


Delay in Page Load and Conversion Rates

A delay in page loading significantly affects conversions. Conversions decrease by 7% for each second of delay. The highest conversion rates are observed on websites that load within two seconds​​.


SEO and UX Signals

Page speed continues to be a crucial factor for SEO. Studies show that bounce rates increase by 32% when the loading time increases from 1 to 3 seconds and by 90% when loading times rise from 1 to 5 seconds. Additionally, three-quarters of the user experience signals used by SEO are linked to website page speed​​.

SEO and UX Signals

Image via Social Media Explorer.


Website Size and Speed

Large website pages (>3.49 MB) take significantly longer to load compared to smaller pages (<0.83 MB). This highlights the importance of optimizing page size for better performance​​.


Image Compression for Website Size Reduction

Compressing images and text can lead to substantial savings in website size and improve loading times. It’s estimated that about a quarter of web pages could save 250KB, and 10% could save 1MB or more by optimizing images and text​​.


Marketers and Customer Lifetime Value Monitoring

Only 24% of marketers believe their companies effectively manage the lifetime value of their customers. This reflects an ongoing challenge in aligning marketing strategies with long-term customer engagement and retention​​.

Marketers and Customer Lifetime Value Monitoring

Image via Criteo.


User Experience Should be at the Forefront of Your Marketing Plan

Some back-end changes don’t seem to have a direct, immediate impact on sales. However, your page speed improvement is not one of them. These statistics point to a direct correlation between a slow website and annoyed customers who bounce and never buy. If your conversion rate isn’t what you expect it should be, then you need a site speed audit and a plan for improvement, and OuterBox can help. Reach out to our team to talk about your website. Let’s develop a plan of attack to increase your conversion rate and maximize your business opportunity.

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