Top 100 Internet Retailers Lose Over $600MM in Annual E-Commerce Sales Due to Slow Mobile Websites
Data released today from adaptive website platform provider, Mobify, reveals hundreds of millions of lost e-commerce sales from the world’s
largest e-retailers due to slow load times for mobile websites.
VANCOUVER, June 18, 2013 /PRNewswire/ – Mobile technology company, Mobify, released new data today that reveals the financial impact of slow
loading mobile websites for the world’s Top 100 Internet Retailers. The release of these findings corresponds with the launch of Mobify Performance Suite, a series of performance-optimizing features designed to improve the
performance of mobile and responsive websites through decreased
download time and content compression.
Slow websites are a deterrent for customers using mobile devices,
including smartphones and tablets. With the growing number of retailers
launching rich responsive websites, mobile loading times continue to
climb. Research from KISSmetrics shows that mobile users stay longer
and engage more with fast-loading websites, with a one second delay in
download time resulting in a 7% reduction in conversions.
To find out how much revenue in e-commerce sales are being lost each
year due to poor website performance, Mobify independently measured the
mobile download times of 2012′s Top 100 Internet Retailer websites. The mobile download times were combined with mobile visits,
mobile revenue and conversion rates from the Internet Retailer’s Top 500 Guide. Using this dataset, Mobify applied the KISSMetrics 7% conversion reduction model to each of the top 100 website homepages. The results revealed a
potential loss of at least $600MM (USD) in combined e-commerce sales
due to customers abandoning the homepage before it is downloaded on
their mobile device.
“With the increase in smartphones and tablets, it’s no surprise that
more customers are using mobile devices for shopping. At the same time,
many major e-commerce websites suffer from poor mobile web performance.
We looked at the speed of the homepages alone but a typical customer
moves through four to seven pages in their online shopping journey,”
said Igor Faletski, CEO of Mobify. “A slow loading website is a massive obstacle for mobile customers,
especially when accessing content-heavy responsive pages. Mobify Performance Suite optimizes existing websites so customers experience fast mobile browsing
-- The average Top 100 Internet Retailer homepage downloads to a mobile device on a 3G network in 5.2 seconds. With Mobify Performance Suite, the average download time is 3.9 seconds. This is a 25% improvement. -- The average Top 100 Internet Retailer homepage weighs 588 kilobytes. With Mobify Performance Suite, the average homepage weight is reduced to 435 kilobytes. This is a 26% improvement.
HOW MOBIFY PERFORMANCE SUITE WORKS
Mobify Performance Suite is a set of three mobile performance optimization features that can be
individually selected and activated through a subscription to Mobify Platform. Mobify Performance Suite corrects common mobile performance issues, such as slow page load time
and excessive data usage, without requiring an overhaul of an existing
of the desktop or responsive site.
To find out how an e-commerce website currently performs on mobile and
to see how Mobify Performance Suite can improve its performance, visit www.mobify.com.
Mobify (http://www.mobify.com) is an open platform for making any website adaptive to any device:
smartphones, tablets and more. Developers use Mobify’s API and tools
to ensure fast, reliable mobile web performance running on Mobify
Cloud. Mobify serves tens of millions of mobile visitors every month
for e-commerce and publishing companies like Starbucks, Siemens,
Expedia, Beyond the Rack and CondÃ© Nast.
About the Methodology
Sites were accessed concurrently using a smartphone simulator, with and
without Mobify Performance Suite features activated. Mobify modeled these results using independent
research, revenue data supplied from the Internet Retailer Top 500
report and research published by KISSmetrics, mobile conversion rates from moz.com and Mary Meeker and Liang Wu’s “2013 Internet Trends .” The model estimates time savings based on directly measured page size
reduction using the Mobify Performance Suite and reduced number of connections over average 3G connection speeds and