Based on an analysis of 30 million user sessions across 37 branded mobile websites, a 0.1 second improvement in website speed boosted consumer spending by 9.2% on retail apps.
Loading speed was found to be one of the most important criteria resulting in a 3.2% uplift in people checking out product detail pages, and a 9.1% boost in adding a product to their basket.
Among the different retail categories, luxury customers were more sensitive to speed improvements.
When load speed was just 0.1 seconds faster, 20.6% more sessions resulted in consumers choosing to contact a brand while 40.1% moved products to their basket.
The study highlights that among luxury retailers, the ‘Contact’ and ‘Appointment’ functionalities serve as proxies for buying intent.
“As the most comprehensive site speed research report ever completed, this is a wake up call to brands to adopt a mobile-first mentality,” said Richard Wheaton, fifty-five’s managing director.
“The benchmarks we’ve created in this report will help brands move beyond being inwardly focused, and identify wider measures of performance that may be putting themselves ahead or behind their competitors. Brands really need to re-think their digital processes and KPIs in this mobile-first world, to ensure that site design and technical enhancements are generating the positive ROI, and not actually unintentionally harming sales by driving customers away.”
On travel mobile websites, a boost in load speed resulted in a higher number of customised sessions and add-on purchases such as speed boarding or selection of plane seats.