SMEs risk losing £2.7bn in festive sales due to website technical issues
New research from Cloudways, a managed hosting platform provider, has revealed that UK small and medium-sized businesses (SMEs) could lose up to £2.7bn in festive sales due to website errors and slow loading times.
With 35% of Brits planning to shop with SMBs online this festive season, spending an average of £218.80 each, technical hurdles threaten to derail potential revenues over a crucial trading period.
The study found that 60% of surveyed UK adults abandon purchases when encountering technical issues on SMB websites – with more than a quarter (27%) experiencing such problems in the past year alone. Of those who are not planning to shop with SMBs, one in ten adults say that they have concerns about a website’s reliability.
During a season where website performance can make or break sales success, SMBs face mounting pressure to provide seamless online experiences which can rival larger retailers. Cloudways empowers SMBs with enhanced performance and scalable solutions, helping them make the most of the festive season.
Fatih Mehtap, VP marketing at Cloudways said: “As we approach such a critical period for retailers, it’s concerning to see how many consumers are experiencing technical issues when trying to shop with small businesses online. With potential customers ready to spend their hard-earned money, reliable website performance is a business critical revenue.
To help businesses understand the impact of website speed on revenue, Cloudways has published a new whitepaper, ‘The Impact of the 2-Second Rule: Why Website Speed Matters More Than You Think!’
