Milliseconds Make Millions: A Study on Mobile Page Speed OptimizationJuly 27, 2020
An old work friend from Accenture recently joined an agency called fifty-five which performed the experiments and research in a new piece of thought leadership co-authored with Deloitte called "Milliseconds Make Millions". In it, the authors make the case for how e-commerce on mobile devices will double between 2019 and 2023, ultimately accounting for 3/4 of all future e-commerce sales.
"Mobile first" means performance first
As mobile devices continue to grow in market share for devices which consumers regularly use to access the internet, organizations should think about page-load time for mobile devices — and not just those on Wi-Fi. Keeping your page as small as possible and only requesting the assets that you need benefits all visitors and espeically those on cellular connections.
As consumers continue to shift more towards mobile devices, organizations will need to invest in performance to remain competitive.
Some key findings from the study:
Based on a mobile site speed improvement of just 1/10th of a second, they found:
- Mobile site speed improvements had a direct correlation to improved funnel progression.
- A positive change in the number of page views, conversion rates and average order value across all verticals.
- Retail conversions increased by 8.4% and average order value increased by 9.2%.
- Travel conversions increased by 10.1% and average order value increased by 1.9%.
- Luxury brand page views per session increased by 8.6%.
- Lead generation information pages bounce rate improved by 8.3% Source: Deloitte