Retailers Losing $600 Million Due to Slow Mobile Websites, Mobify Says

Vancouver-based technology company Mobify today released data based on North America’s top retailers.

Mobify’s report is evidence that retailers are losing serious cash due to slow-loading mobile websites. By Mobify’s estimation, the top 100 retailers are losing a staggering $600 million annually as a result of neglecting this concern.

According to Mobify, slow websites are a deterrent for customers shopping via mobile devices such as smartphones and tablets. Instead of optimizing mobile sites for speed, though, retailers are launching rich responsive websites, whose resulting weight drags down loading times. In fact, loading times for retailers’ mobile sites are actually on the rise.

Research from KISSmetrics suggests that a delay as short as one second can trigger a 7% blow to conversions for retailers. Fast-loading mobile websites encourage customers to stay longer and engage more, according to KISSmetrics.

“With the increase smartphone and tablets, it’s no surprise that more customers are using mobile devices for shopping,” says Igor Faletski, the CEO of Mobify. “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. A slow loading website is a massive obstacle for mobile customers, especially when accessing content heavy responsive pages.”

Mobify says that the average homepage of a top 100 retailer takes more than five seconds to download on a 3G network. However, using the company’s new Mobify Performance Suite, that speed is improved by 25% and drops to less than four seconds. The size of a regular homepage averages 588 kilobytes, while Mobify-optimized sites are 26% smaller.

The suite is a set of three mobile performance optimization features that, according to Mobify, can be individually selected and activated to “correct common performance issues … without requiring an overhaul of an exising website or the creation of a separate mobile site.”