Why is speed important?
Page speed is considered heavily by Google. They have been working website speed into their search algorithm since 2009. As time goes on, Google has only been putting more emphasis on the importance of speed.
Users also prefer fast websites.
In 2012, Walmart found that reducing their load time by 1s resulted in up to 2% more conversions. In 2017, Google analyzed over 900,000 mobile landing pages and found that as page speed goes from 1 to 3s, the probability of bounce increases by 32%. In 2018, Furnspace optimized their site speed, which resulted in a 20% bounce rate decrease and 2x more purchase conversions.