Slow performing websites could be setting UK retailers back by a hefty £59.6 billion each year in lost sales, according to a new study by web hosting firm Fasthosts.
Its survey of 1,500 UK adults revealed that over half (54 per cent) would abandon an online purchase because of a slow webpage. While just under half would refuse to revisit a website following a bad experience, making it double difficult for sluggish eCommerce sites to win their audience back.
Fortunately for online retailers, says Fasthosts, just over a third of survey respondents allow a little leeway when it comes to loading times on a mobile device compared to alternative devices.
To determine the cost impact, Fasthosts compared ONS data around the average value of internet sales annually to its survey data. If, as its survey said, 54 per cent of users abandon a purchase due to a slow website, then the annual cost would be £59.6 billion.
The findings also showed that 60 per cent of consumers claim to have upped their shopping habits since the outbreak of Covid-19 last year.
Residents in Bristol are said to be the biggest online shoppers, with 66 per cent shopping more regularly online during the pandemic, closely followed by Edinburgh and Leeds (at 64 per cent and 63 per cent respectively).
Fasthosts’ five tips for improving website speed include: scaling and optimising site imagery, page compression, enabling browsing caching, tightening up website code, and upgrading web hosting.
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