A couple of bullet points from the article:
- The consequences for an online retailer whose site underperforms include diminished goodwill, negative brand perception, and, most important, significant loss in overall sales.
- Online shopper loyalty is contingent upon quick page loading, especially for high-spending shoppers and those with greater tenure.
- JupiterResearch recommends that retailers make every effort to keep page rendering to no longer than four seconds.
Also, Jakob Nielsen has two good articles on the same topic:
Those reference research dating from the 1960s' - 10 seconds is about the max you want to go.
You can also check out the original papers by Goodman and Spence from the 70s