diff --git a/src/index.css b/src/index.css
index 3a06ca1..c0c4170 100644
--- a/src/index.css
+++ b/src/index.css
@@ -75,6 +75,33 @@
 }
 
 @layer components {
+  .skeleton {
+    position: relative;
+    overflow: hidden;
+    border-radius: 0.75rem;
+    background: color-mix(in srgb, var(--color-dark-input) 82%, var(--color-dark-text) 18%);
+  }
+
+  .skeleton::after {
+    content: "";
+    position: absolute;
+    inset: 0;
+    transform: translateX(-100%);
+    background: linear-gradient(
+      90deg,
+      transparent,
+      color-mix(in srgb, var(--color-dark-text) 14%, transparent),
+      transparent
+    );
+    animation: skeleton-shimmer 1.45s ease-in-out infinite;
+  }
+
+  @keyframes skeleton-shimmer {
+    100% {
+      transform: translateX(100%);
+    }
+  }
+
   .app-shell {
     background:
       linear-gradient(180deg, rgba(255, 255, 255, 0.018), rgba(255, 255, 255, 0) 24rem),
diff --git a/src/pages/Dashboard.tsx b/src/pages/Dashboard.tsx
index bc8d0a0..f2c1319 100644
--- a/src/pages/Dashboard.tsx
+++ b/src/pages/Dashboard.tsx
@@ -1,7 +1,7 @@
 import { useCallback, useEffect, useMemo, useState } from 'react';
 import { useOutletContext, useNavigate } from 'react-router-dom';
 import { BarChart, Bar, XAxis, YAxis, CartesianGrid, Tooltip, ResponsiveContainer, PieChart, Pie, Cell, LabelList } from 'recharts';
-import { DollarSign, Loader2, ShoppingCart, TrendingUp } from 'lucide-react';
+import { DollarSign, ShoppingCart, TrendingUp } from 'lucide-react';
 import DateRangePicker from '../components/DateRangePicker';
 import type { DashboardAnalytics, OrderData, DateRange } from '../types';
 import { applyDashboardColors, buildDashboardMetrics } from '../analytics/dashboard';
@@ -52,6 +52,69 @@ const kpiIconStyle = (color: string) => ({
   color
 });
 
+const DashboardSkeleton = () => (
+  <div className="space-y-6" aria-label="Carregando dashboard">
+    <div className="grid grid-cols-1 md:grid-cols-3 gap-6">
+      {[0, 1, 2].map(item => (
+        <div key={`dashboard-kpi-skeleton-${item}`} className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+          <div className="flex justify-between gap-6">
+            <div className="w-full">
+              <div className="skeleton h-4 w-32" />
+              <div className="skeleton mt-3 h-8 w-44" />
+            </div>
+            <div className="skeleton h-12 w-12 shrink-0 rounded-xl" />
+          </div>
+        </div>
+      ))}
+    </div>
+
+    <div className="grid grid-cols-1 lg:grid-cols-2 gap-6">
+      {[0, 1].map(item => (
+        <div key={`dashboard-seller-chart-skeleton-${item}`} className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+          <div className="skeleton h-5 w-48" />
+          <div className="mt-8 space-y-4">
+            {[0, 1, 2, 3, 4, 5].map(row => (
+              <div key={`dashboard-bar-skeleton-${item}-${row}`} className="flex items-center gap-4">
+                <div className="skeleton h-3 w-28 shrink-0" />
+                <div className="skeleton h-7" style={{ width: `${88 - row * 10}%` }} />
+              </div>
+            ))}
+          </div>
+        </div>
+      ))}
+    </div>
+
+    <div className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+      <div className="skeleton h-5 w-44" />
+      <div className="mt-5 space-y-4">
+        {[0, 1, 2, 3, 4].map(row => (
+          <div key={`dashboard-table-skeleton-${row}`} className="grid grid-cols-[1fr_120px_80px_120px] gap-4">
+            <div className="skeleton h-4" />
+            <div className="skeleton h-4" />
+            <div className="skeleton h-4" />
+            <div className="skeleton h-4" />
+          </div>
+        ))}
+      </div>
+    </div>
+
+    <div className="grid grid-cols-1 lg:grid-cols-2 gap-6">
+      {[0, 1].map(item => (
+        <div key={`dashboard-product-chart-skeleton-${item}`} className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+          <div className="skeleton h-5 w-44" />
+          <div className="mt-8 h-80">
+            <div className="flex h-full items-end justify-center gap-3">
+              {[0, 1, 2, 3, 4, 5, 6, 7].map(bar => (
+                <div key={`dashboard-column-skeleton-${item}-${bar}`} className="skeleton w-10" style={{ height: `${35 + ((bar * 17) % 55)}%` }} />
+              ))}
+            </div>
+          </div>
+        </div>
+      ))}
+    </div>
+  </div>
+);
+
 type ChartTooltipPayload = {
   value: number;
   name?: string;
@@ -194,6 +257,7 @@ const Dashboard = () => {
   const handleManualRefresh = () => {
     void loadDashboardMetrics(dateRange, { force: true });
   };
+  const shouldShowSkeleton = isMetricsLoading && !serverMetrics;
 
   return (
     <div className="space-y-6">
@@ -211,12 +275,10 @@ const Dashboard = () => {
         />
       </div>
 
-      {isMetricsLoading && (
-        <div className="inline-flex items-center gap-2 rounded-xl border border-dark-border bg-dark-card px-3 py-2 text-sm font-semibold text-dark-muted">
-          <Loader2 className="h-4 w-4 animate-spin text-brand-primary" />
-          Atualizando indicadores
-        </div>
-      )}
+      {shouldShowSkeleton ? (
+        <DashboardSkeleton />
+      ) : (
+        <>
 
       <div className="grid grid-cols-1 md:grid-cols-3 gap-6">
         <div className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
@@ -444,6 +506,8 @@ const Dashboard = () => {
           </div>
         </div>
       </div>
+        </>
+      )}
     </div>
   );
 };
diff --git a/src/pages/Rfm.tsx b/src/pages/Rfm.tsx
index 86793bb..8ff0f57 100644
--- a/src/pages/Rfm.tsx
+++ b/src/pages/Rfm.tsx
@@ -1,6 +1,6 @@
 import { useCallback, useEffect, useMemo, useState } from 'react';
 import { Link, useOutletContext } from 'react-router-dom';
-import { ChevronLeft, ChevronRight, Download, Filter, Loader2, Search, Users } from 'lucide-react';
+import { ChevronLeft, ChevronRight, Download, Filter, Search, Users } from 'lucide-react';
 import DateRangePicker from '../components/DateRangePicker';
 import { exportToCSV, fetchRfmAnalytics, getCachedRfmAnalytics } from '../dataService';
 import type { DateRange, RfmAnalytics, RfmClient, RfmSegment } from '../types';
@@ -157,6 +157,99 @@ const ScoreBadge = ({ value }: { value: number }) => (
   </span>
 );
 
+const RfmSkeleton = () => (
+  <div className="space-y-6" aria-label="Carregando RFV">
+    <div className="grid grid-cols-1 md:grid-cols-3 gap-6">
+      {[0, 1, 2].map(item => (
+        <div key={`rfv-kpi-skeleton-${item}`} className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+          <div className="skeleton h-4 w-36" />
+          <div className="skeleton mt-3 h-8 w-24" />
+          <div className="skeleton mt-3 h-3 w-44" />
+        </div>
+      ))}
+    </div>
+
+    <div className="grid grid-cols-1 xl:grid-cols-[minmax(0,1fr)_340px] gap-6">
+      <section className="bg-dark-card p-5 rounded-2xl border border-dark-border shadow-sm">
+        <div className="flex items-start justify-between gap-4">
+          <div>
+            <div className="skeleton h-5 w-28" />
+            <div className="skeleton mt-2 h-3 w-72 max-w-full" />
+          </div>
+          <div className="skeleton h-3 w-44" />
+        </div>
+        <div className="mt-5 overflow-x-auto">
+          <div className="grid min-w-[720px] grid-cols-[104px_repeat(3,minmax(0,1fr))] gap-2">
+            {[0, 1, 2, 3].map(item => (
+              <div key={`rfv-matrix-head-skeleton-${item}`} className="rounded-xl border border-dark-border bg-dark-input/60 p-3">
+                <div className="skeleton mx-auto h-3 w-16" />
+                <div className="skeleton mx-auto mt-2 h-3 w-20" />
+              </div>
+            ))}
+            {[0, 1, 2].map(row => (
+              <div key={`rfv-matrix-row-skeleton-${row}`} className="contents">
+                {[0, 1, 2, 3].map(column => (
+                  <div key={`rfv-matrix-cell-skeleton-${row}-${column}`} className="min-h-28 rounded-xl border border-dark-border bg-dark-input/50 p-3">
+                    <div className="skeleton h-2 w-8" />
+                    <div className="skeleton mt-5 h-4 w-28" />
+                    <div className="skeleton mt-2 h-3 w-36" />
+                    <div className="mt-5 grid grid-cols-2 gap-3">
+                      <div className="skeleton h-5" />
+                      <div className="skeleton h-5" />
+                    </div>
+                  </div>
+                ))}
+              </div>
+            ))}
+          </div>
+        </div>
+      </section>
+
+      <section className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
+        <div className="skeleton h-5 w-28" />
+        <div className="mt-5 space-y-2">
+          {[0, 1, 2, 3, 4, 5, 6, 7, 8].map(item => (
+            <div key={`rfv-segment-skeleton-${item}`} className="rounded-xl border border-dark-border p-4">
+              <div className="flex items-center justify-between gap-3">
+                <div className="flex flex-1 items-center gap-3">
+                  <div className="skeleton h-2.5 w-2.5 rounded-full" />
+                  <div className="skeleton h-4 w-32" />
+                </div>
+                <div className="skeleton h-4 w-8" />
+              </div>
+              <div className="skeleton mt-3 h-3 w-48" />
+            </div>
+          ))}
+        </div>
+      </section>
+    </div>
+
+    <section className="bg-dark-card border border-dark-border rounded-2xl overflow-hidden shadow-sm">
+      <div className="flex flex-col gap-3 border-b border-dark-border p-4 sm:flex-row">
+        <div className="skeleton h-10 w-48" />
+        <div className="skeleton h-10 w-72" />
+        <div className="skeleton h-10 w-28 sm:ml-auto" />
+      </div>
+      <div className="p-6">
+        <div className="grid grid-cols-[1.5fr_1fr_120px_1fr_1fr_1fr_1fr] gap-5">
+          {[0, 1, 2, 3, 4, 5, 6].map(item => (
+            <div key={`rfv-table-head-skeleton-${item}`} className="skeleton h-3" />
+          ))}
+        </div>
+        <div className="mt-6 space-y-5">
+          {[0, 1, 2, 3, 4, 5].map(row => (
+            <div key={`rfv-table-row-skeleton-${row}`} className="grid grid-cols-[1.5fr_1fr_120px_1fr_1fr_1fr_1fr] gap-5">
+              {[0, 1, 2, 3, 4, 5, 6].map(column => (
+                <div key={`rfv-table-cell-skeleton-${row}-${column}`} className="skeleton h-4" />
+              ))}
+            </div>
+          ))}
+        </div>
+      </div>
+    </section>
+  </div>
+);
+
 const Rfm = () => {
   const { dateRange, setDateRange, refreshInterval, setRefreshInterval, themeMode } = useOutletContext<{
     dateRange: DateRange;
@@ -342,6 +435,7 @@ const Rfm = () => {
 
     exportToCSV(exportData, `rfv_${new Date().toISOString().split('T')[0]}.csv`);
   };
+  const shouldShowSkeleton = isLoading && !analytics;
 
   return (
     <div className="space-y-6">
@@ -362,12 +456,10 @@ const Rfm = () => {
         </div>
       </div>
 
-      {isLoading && (
-        <div className="inline-flex items-center gap-2 rounded-xl border border-dark-border bg-dark-card px-3 py-2 text-sm font-semibold text-dark-muted">
-          <Loader2 className="h-4 w-4 animate-spin text-brand-primary" />
-          Atualizando RFV
-        </div>
-      )}
+      {shouldShowSkeleton ? (
+        <RfmSkeleton />
+      ) : (
+        <>
 
       <div className="grid grid-cols-1 md:grid-cols-3 gap-6">
         <div className="bg-dark-card p-6 rounded-2xl border border-dark-border shadow-sm">
@@ -697,6 +789,8 @@ const Rfm = () => {
           </div>
         </div>
       </section>
+        </>
+      )}
     </div>
   );
 };