Conversions Skyrocket 27% With a Single Second Site Speed Boost, Reveals New Liquid Web Report
More than 50% consumers find site speed to be a reflection of brand quality, and slow load times have caused three quarters to abandon carts.
ATLANTA, Jan. 28, 2025 /PRNewswire/ -- Liquid Web, a leader in VPS and WordPress hosting, alongside scalable dedicated servers and cloud solutions for small to medium-sized businesses (SMBs), today announced the release of its latest report, Lost Value in Site Speed: Impact on Customer Retention.
The report highlights the game-changing impact of website speed on user engagement, conversions, and business growth — essential insights for businesses of all sizes. Drawing from a survey of over 1,000 consumers, the findings reveal a strong correlation between faster site speeds and increased brand affinity, trust, and revenue.
Key insights show that 76% of shoppers abandon slow websites at every stage of the buyer journey, underscoring the critical need for robust infrastructure and optimization to thrive in today's competitive online landscape.
Other key findings from the study include:
- Faster sites lead to more conversions. One-second site speed boost can increase conversions by 27%.
- The majority of consumers associate site speed with brand quality. Over half believe a website's speed is a reflection of the quality of a brand.
- Slow sites build unnecessary friction. 43% of consumers get frustrated if a website doesn't load within 10 seconds.
- Brand trust can buy you time: 73% of consumers would wait longer for a site to load if it's a brand they know and love.
- Slow sites lead to costly cart abandonment. Over 75% of consumers surveyed have abandoned a cart due to slow site speeds, and it's costing store owners.
- Slow site speed hurts revenue potential. The average value of an abandoned cart due to slow site speed was $65, and during Cyber Monday that jumped to $75. Almost 40% of abandoned carts had over $100 of goods in them.
- Slow sites send consumers flocking to your competitors. Over half of consumers switched to a competitor's site when faced with delays.
Additionally, faster websites are favored by search engines, leading to increased visibility and organic traffic via improved SEO rankings. This illustrates the significance of an optimized underlying infrastructure in order to stay visible online, while providing the best possible user experience conducive to sales.
"Every second matters," says Sachin Puri, Chief Growth Officer at Liquid Web. "In today's fast-paced online marketplace and in ecommerce, speed isn't just an advantage — it's a necessity. Our study highlights how optimized website performance drives user satisfaction and fuels business growth — a mission we've proudly led for nearly 30 years at Liquid Web."
Liquid Web is committed to empowering businesses with lightning-fast, scalable hosting solutions and the knowledge necessary to succeed online. The Lost Value in Site Speed report is part of this ongoing effort, providing valuable information to help businesses optimize their digital presence.
To learn more about Liquid Web's array of high-performance hosting solutions, visit LiquidWeb.com, or read the full report: Lost Value in Site Speed: Impact on Customer Retention.
About Liquid Web
As a cornerstone of CloudOne Digital, Liquid Web leverages best-in-class infrastructure and cloud capabilities to provide unparalleled support and growth for businesses. Building on 25+ years of success, Liquid Web delivers industry-leading hosting for mission-critical sites, stores, and applications to SMBs and the designers, developers, and agencies who create for them. Liquid Web's expansive global reach and support for nearly 200,000 customers is a testament to its reliability and the trust it has garnered from its customers. Our foundation is built by a world-class team of technology and industry experts dedicated to delivering excellence 24/7/365. As a leader in customer service, the rapidly expanding brand has been recognized among INC. Magazine's 5000 Fastest-Growing Companies for 12 years.
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SOURCE Liquid Web
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