eCommerce performance and Revenue

Consider these eCommerce facts related to performance of mobile and web apps.

Every 100ms delay in loading a web site costs 1% of sales (Amazon – 2006)

1 second of improvement yields 2% increase in conversions (Walmart – 2012)

Sharp decline in conversions rate when site load time increases from 1 to 4 seconds.  50% per the websites have  response times > 4 seconds (Walmart – 2013)

1 second improvement in page load time yields  7% gain in conversions (Aberdeen Research)

50% of users expect the expect the website to load in under 2 seconds (Akamai Research)

50% of daily visitors to a web site come in with an empty cache. (Akamai Research)

28% of customers won’t return to a slow site and 9% of users won’t visit after a site outage (Soasta Research)

The “sweet spot” for peak conversions is 2.4 seconds.  The optimal load time for peak conversions shifted from 3.8 seconds in 2014 to 2.4 seconds in 2015 (Soasta Research)

For web pages that loaded in less than 2 seconds, the median bounce rate was 26%, whilst web pages that took 10 seconds to load experienced a 41% bounce rate (Soasta Research)

Speedier website or mobile app is becoming more critical every year

There are number of well documented ways to improve the performance of an eCommerce web or mobile app including front-end and backend improvements.  Here are some that are usually not covered:

  • Make sure your first time users have appropriate experience and they are appropriately on-boarded
  • Always look at your Newness or New versus Returning user data.  As cited above a large number of users visit a web site with an empty cache
  • Measure user behavior
  • Influence user behavior
  • Track everything from discovery, to shopping to payment and customer service
    • How users discover content and items in your app
    • Track curated & wish lists
    • Track items in shopping cart / bag
    • Tracking revenue sources and payment instruments
    • Track messaging, support, advocacy, and feedback
    • Track users’ interactions with Beacons

See Mobile is eating the commerce world for top ingredients of a mobile commerce app.

Learn more about Pyze Commerce classes for iOS, Android and Unity:

  1.  Support: PyzeCommerceSupport
  2.  Discovery: PyzeCommerceDiscovery
  3.  Curated Lists: PyzeCommerceCuratedList
  4.  Wish Lists: PyzeCommerceWishList
  5.  iBeacon: PyzeCommerceBeacon
  6.  Shopping Cart and Bag: PyzeCommerceCart
  7.  Shopping Cart or Bag Item: PyzeCommerceItem
  8.  Checkout: PyzeCommerceCheckout
  9.  Shipping: PyzeCommerceShipping
  10.  Billing: PyzeCommerceBilling
  11.  Payment via cards, Apple Pay, Samsung/Google Pay: PyzeCommercePayment
  12.  Revenue: PyzeCommerceRevenue

 

Posted by Dickey Singh

Dickey Singh is the CEO and co-founder at Pyze and has over two decades of experience in mobile, Big Data and SaaS. He started Pyze to help app publishers engage, retain and grow their mobile users using automation. https://twitter.com/DickeySingh Get Pyze: https://pyze.com