As per a report released by NASSCOM and Akamai, there will be 730 million internet users in the country by 2020. This growth also indicates a drastic growth in the number of online shoppers. The e-Commerce industry is expected to form the largest part of the Indian Internet market with a value of approximately USD 100 Billion by 2020.
This growth opens a huge business opportunity for the leading e-commerce players in the space along with intense competition leading to a situation of survival of the fittest.
The increase in demand requires these businesses to scale up their operations and provide the best online shopping experience to customers in order to maintain the competitive edge.
One of the means for businesses to achieve this is by improving the web performance across the multiple device platforms. From a consumer point of view, per BCG, almost 60 percent of online shoppers rate convenience as a key reason to shop online, and the value of convenience keeps rising as consumers increase their online shopping.
Hence, website performance is critical to maintaining customer attention and completing online transactions.Also read: Schneider Electric to Make India's First Green Field Integrated Smart City Project in Naya Raipur
According to the latest State of Online Retail Performance report by Akamai these are the following statistics:
● Half of the consumers browse for products and services on their smartphones, while only one in five complete purchases using those phones.
● A 100-millisecond delay in website load time can hurt conversion rates by 7 percent.
● A two-second delay in web page load time increases bounce rates by 103 percent.
● 53 percent of mobile site visitors will leave a page that takes longer than three seconds to load.
● Bounce rates were highest for mobile phone shoppers, while tablet shoppers had the lowest bounce rate.
The report is rooted in the e-commerce market’s ongoing drive towards faster web performance. Online retail benefits from delivering better customer experiences, especially on mobile devices. Also read: TCL VR Headset Launched With TCL 562 Smartphone For Rs 13,999
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