Welcome to the forum. You are asking a very broad question.

a) What constitutes your conversion events?

b) Have you set up goals in your Google analytics?

c) You may want to Google for "Google conversion university" and watch the tutorials by the analytics team.

Thanks Omzen

Please find replies to your questions below

a) What constitutes your conversion events?
Since its a shopping website, our aim is to help users find the deals they want and then click on the relevant advertiser link, which then redirects them to the advertiser website. Do you think its enough or let me know if I have missed out anything.

Another important thing someone else pointed out is the number of HTTP requests present on various pages, which I am trying to cut down. I am sure a slow loading site can leak some valuable traffic.

b) Have you set up goals in your Google analytics?
I haven't used goals in Google Analytics, I will now study and implement since you recommend this.

c) You may want to Google for "Google conversion university" and watch the tutorials by the analytics team.
Thanks for pointing me in the right direction I will be heading now to explore.

Thanks very much.

When you learn about Goals, pay attention to setting up "funnels" too so that you can learn which pages the visitors are dropping off.

Google conversion university has nice tutorials and you can always watch the official "Google analytics channle" on YouTube too.

Google webmaster central gives useful suggestions on reducing page load times or you can use free online tool like webpagetest dot org which can offer useful suggestions to reduce load times.