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Research by Kissmetrics reveals that 40% of people abandon a site completely if it takes more than three seconds to load. Thus, to deliver an impressive user experience for first-time visitors, a website should load fast every single time it is opened.
Google made it very clear that they operate by speed-obsession for every product on the web. Matt Cutts (Google’s former head of web spam) has officially admitted that Google considers fast load speed as a positive ranking factor.
Thus, for websites to rank well on Google, teams must ensure that web pages are optimized enough to load faster. Higher rankings lead to growth in organic traffic, which is very important for businesses.
Bear in mind that Google penalizes websites with low page load speed. More importantly, customers or visitors will stop returning to such sites or bounce when pages take too long to render. This results in the loss of potential customers and revenue.
This is true especially for e-commerce websites, A one-second delay leads to a 7% reduction in conversion. For example, if an e-commerce site makes $50,000 per day, a delay of one second could potentially result in approx $1.28 million of lost revenue every year.
Or you do not pay!