New eCommerce Leaders Report: 71% Of Online Shoppers Leave Sites Due To Slow Performance
Research Interviews with 125 Retail Executives Provide Insight Into the State of eCommerce Site Performance & Innovation
Waltham, MA—November 16, 2017—Yottaa, Inc., the leading cloud platform for accelerating eCommerce, today announced the publication of a new research report titled, “2017 eCommerce Leaders Survey: Site Performance & Innovation Trends.” The objective of the research was to gather data from online retail executives to determine:
- What are the limits of shopper attention?
- How often do shoppers leave their sites due to slow page load times?
- How do they perceive the performance of their sites today?
- How does web performance impact conversion rates?
- Which steps are they taking to tune page speed performance?
- What are their main eCommerce initiatives for 2018?
- How much are they investing annually to drive shoppers to their sites?
- Where are they investing to improve website performance and the shopper experience?
For this research report Yottaa interviewed 125 leaders from a wide range of eCommerce sites – from niche retailers all the way up to some of the biggest names in the industry. In order to measure the direct impact that performance has on the bottom line, the research focused directly on executive titles from the line of business, such as Vice President of eCommerce, rather than IT executives. Data was collected both online and via telephone during a two week period in October of 2017.
The one topic that nearly all survey respondents agreed upon: fast page loads result in higher conversions. 97% believed website performance directly impacts their online revenue. Below are other key findings from the report that illustrate the performance challenges many eCommerce sites face today. The full report can be downloaded here or at www.yottaa.com.
- Speed = Conversion: 71% said shoppers don’t convert due to slow page load times. On average, these retailers would see a $58 million annual revenue lift by optimizing web performance.
- 3rd Party Tug of War: These retailers invest $1 million (on average) annually on third party technologies to provide richer and more engaging online shopper experiences. However, 47% stated IT restricts the number of third parties they can add due to performance concerns.
- Digital Innovation is a Race: 90% said they need a more innovative site to efficiently compete but are often road blocked by IT. In addition, 53% said they are willing to move off a monolithic platform to a service-based architecture to be more nimble and flexible.
- Heavy Investments, Low ROI: On average, these retailers invest $5 million annually on custom optimization, SEO/Paid Search, and third party technologies. However, often times these investments are not paying dividends due to poor web performance.
- Holiday Shopping Season: 64% said they tune web performance every year during the holidays to maximize online conversions.
“Earlier this year Retail Systems Research published a report on eCommerce performance that evaluated 80 top online retail sites in terms of web performance and shopper experience,” said Rich Stendardo, CEO of Yottaa. “This report complements the RSR study with one major difference: all data gathered came directly from online retail leaders. The findings in this report provide valuable insight into how these leaders perceive the impact web performance has on their shoppers, conversion rates, and overall eCommerce strategies. This data should be central to every eCommerce team’s plans as they prepare for 2018.”
Click here to download the full report “2017 eCommerce Leaders Survey: Site Performance & Innovation Trends.”
Yottaa is the leading cloud platform for accelerating eCommerce. Purpose-built to solve the website performance challenges retailers face today, Yottaa enables retailers to deliver content instantly across all devices, pages, and browsers, through advanced acceleration and 3rd party application sequencing. Leading retailers, such as The Container Store, Hallmark, eBags, Asics, Mattress Firm, and JoAnn Fabrics, have deployed Yottaa in a matter of days with zero code change to realize billions in incremental revenue. To learn more about how Yottaa can accelerate your eCommerce site and increase online conversions, please visit www.yottaa.com or follow @yottaa on Twitter.