Slow Loading Sites Risk Losing Customers and Online Visibility

  • 87% of UK’s top retailers risk revenue losses due to poor mobile site performance
  • Mobile site speed is crucial for online visibility
  • Average speed for top 245 retailers is 11 seconds, considered ‘poor’
  • Only 1% of retailers have excellent mobile site speed
  • Every additional second can cause up to 20% drop in conversions
  • Retail giants like Tesco Direct are struggling with site speed issues

A new report by e-commerce and digital agency Visualsoft reveals that nearly 9 in 10 top UK retailers are at risk of losing online visibility due to poor mobile site performance. The study found that only 1% of these retailers have excellent mobile site speed, while the average loading time for the top 245 retailers is 11 seconds – considered ‘poor’ and potentially leading to a 27% loss in customers. Google’s ‘Speed Update’ rates sites loading under four seconds as ‘excellent’, but consumer expectations demand load times of less than two seconds. As site speed becomes increasingly important, smaller players can outrank established retailers if they prioritize this aspect.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the importance of mobile site performance and its impact on online visibility, citing a recent study by e-commerce agency Visualsoft. It also includes relevant quotes from Gavin Lowther, head of digital at Visualsoft, offering insights into the issue and potential solutions.
Noise Level: 3
Noise Justification: The article provides relevant information about the importance of mobile site performance and its impact on online visibility and conversions for UK retailers. It also includes data and insights from a recent study by Visualsoft. However, it lacks in-depth analysis or actionable solutions for retailers to improve their mobile site speed.
Financial Relevance: Yes
Financial Markets Impacted: UK retailers
Financial Rating Justification: The article discusses the financial impact on UK retailers due to slow mobile site performance and its effect on online visibility, potentially leading to a loss in customers and revenue.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk