Yottaa Inc., the cloud platform for accelerating e-commerce based in Waltham, Massachusetts, has published a new research report titled, “2019 e-Commerce Leaders Survey: Site Performance & Innovation Trends.”
The objective of the research was to gather data from online retail executives to identify key e-commerce initiatives for 2019, particularly in the area of website performance and site optimization.
For this report, Yottaa interviewed 141 leaders from a wide range of e-commerce sites. In order to measure the direct impact that web performance has on the bottom line, the research focused directly on executive titles from the line of business, such as VP of e-commerce, rather than IT executives. Data was collected both online and via telephone during a two-week period in November of 2018.
The key takeaway was survey respondents overwhelmingly (92 percent) believe that fast-site performance results in higher online conversions. Below are other key findings from the report that illustrate the performance challenges many e-commerce sites face today.
- Retailers are investing $2.6 million (on average) to optimize e-commerce operations in the coming year.
- 56 percent are planning to re-platform in 2019.
- 35 percent still have a “desktop first” strategy.
- 92 percent believe a faster website leads to increased conversions.
- 74 percent say shoppers will only wait 2-3 seconds for a page load before leaving to shop another site.
- 54 percent cite website speed and performance as a key initiative in 2019.
Third Party e-Commerce Technologies
- 70 percent are planning on swapping out third parties this year.
- Retailers are planning to add three to five new third-party technologies to sites in 2019.
- Average third-party e-commerce investment is $1.4 million.
2018 Holiday Shopping Season Results
- Retailers experienced a 47 percent growth in website traffic during the Cyber 5.
- Mobile conversions grew 40.2 percent.
- More than 20 retail sites had performance issues resulting in more than $100 million in lost revenue.
“Following a historic holiday online shopping season, retailers are now focusing on how to carry this momentum throughout 2019,” said Rich Stendardo, CEO of Yottaa. “The new e-Commerce Leaders Survey Report provides retailers with valuable insight into how e-commerce executives from some of the world’s leading retail brands are planning to optimize online shopping experience and revenue in the coming year.”
Click here to download the full report “2019 eCommerce Leaders Survey: Site Performance & Innovation Trends.”