Survey: This feature is key to e-commerce success…
Almost all e-commerce executives agree that one aspect of site performance is critical to generating sales.
According to “2019 eCommerce Leaders Survey: Site Performance & Innovation Trends,” a survey of 141 e-commerce executives from e-commerce platform provider Yottaa, 92% of respondents believe that fast site performance results in higher online conversions.
Three-quarters (74%) say shoppers will only wait two to three seconds for a page load before leaving to shop another site. Interestingly, only 54% cite website speed and performance as a key initiative in 2019.
Survey results indicate retailers are investing $2.6 million (on average) to optimize their e-commerce operations in the coming year. Fifty-six percent of respondents are planning to re-platform in 2019. More than one in three (35%) still have a “desktop first” e-commerce site development strategy.
The survey also indicates there will be a lot of activity around third-party e-commerce providers in 2019. Seventy percent of respondents are planning on swapping out third parties this year. Retailers are planning to add three to five new third-party technologies to their sites in 2019. The average planned third-party e-commerce investment is $1.4 million.
Looking at how e-commerce retailers performed during the “Cyber Five” days of Thanksgiving through Cyber Monday in November 2018, the survey found respondents experienced an average 47% growth in website traffic. Mobile conversions grew 40.2%. Over 20 retail sites had performance issues resulting in over $100 million in lost revenue.
Data was collected both online and via telephone during a two-week period in November of 2018.