The Need for Speed

https://www.sempl.si/news/how-impatient-are-you/

https://neurosciencenews.com/impatience-psychology-25622/

 

https://www.bizspace.co.uk/news/has-technology-made-customers-more-impatient/#:~:text=Interparcel.com%2C%20an%20online%20parcel,in%20the%20last%20five%20years.

Has technology made customers more impatient?

Research suggests that technology is making us more impatient, so how can you make sure your business meets customers’ expectations?

The study found the following average patience times:

• Waiting for a pay rise: no more than 21 months
• Waiting for a web page to load: under 10 seconds
• Waiting for a parcel to arrive: four and a half days
• Sitting in traffic before becoming angry: 13 minutes
• Being kept on hold on the phone: eight minutes

https://www.ohio.edu/news/2020/07/recently-published-ohio-study-reveals-humans-are-impatient-even-down-seconds

Recently published OHIO study reveals humans are impatient, even down to seconds

https://news.ycombinator.com/item?id=465869

Half a second delay caused a 20% drop in traffic 

https://www.gigaspaces.com/blog/amazon-found-every-100ms-of-latency-cost-them-1-in-sales

Amazon Found Every 100ms of Latency Cost them 1% in Sales

https://www.datacenterdynamics.com/en/news/cracking-latency-in-the-cloud-2/

The cost of Latency 

There have been some studies that have examined overall website performance with respect to latency. For example, every drop of 20ms of network latency will result in a 7-15% decrease in page load times.

https://blog.hubspot.com/marketing/page-load-time-conversion-rates#website-load-time

https://www.bigcommerce.com/glossary/page-load/

In fact, a one-second delay in page load time has been shown to cause a 7 percent loss in conversion and 11 percent fewer page views. For an online store earning $50,000 a day, that one-second delay adds up to more than $1 million in lost sales each year (1).