According to Statista, retail eCommerce sales worldwide are projected to grow to 4.48 trillion US dollars in 2021, an equivalent of 15.5% of all retail sales worldwide. In order to be a part of this enormous amount of wealth, e-retail business owners will need a platform that can deliver the necessary capabilities to drive success.
Magento is one of those platforms that are developed to help eCommerce business reach this goal. In 2016, Magento dominated the eCommerce platform market and claimed 29.1 % of the total market share. Designed to be highly flexible and supported by a robust community of experts around the globe, Magento is the #1 trusted platform of more than 250,000 websites worldwide, including the biggest brand such as Christian Louboutin, Nike, Coca Cola, Ford and Nespresso.
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In 2015, Magento 2 was released with a promise to offer a much improved and optimized version of Magento Core products. Magento 2 aims to broaden the possibilities of eCommerce and provides users with a faster and easier online shopping experience. Since its launching, many questions have been raised in terms of whether or not to upgrade to Magento 2 and what are the benefits that it brings. In fact, as Magento 1 will be supported with security updates only until November 2018, it is highly recommendable to go for Magento 2 if you are to make any major changes to your Magento shop or if you are considering using the Magento platform for your online business. There have been numerous studies on the improvement of Magento 2 platform, below are the 7 distinct advantages of Magento 2:
1. Higher performance
Thanks to a built-in full page cache component and built-in support for Varnish caching, Magento 2 page load speed is 30% to 50% faster than that of Magento 1. The product searches and check-out processes have also been optimized in order to deliver the best user experience possible.
Magento 2 stores are more user-friendly and can also be easily accessed via any desktop or mobile device, meaning that they are equally beneficial for desktop and mobile e-businesses
3. Better catalogue page views scalability
Magento 2 can handle more than 10 million catalogue page views per hour in comparison to just 500.000 page views per hour in Magento 1.x system.
4. Improved admin interface
With a 4 times faster product import capabilities, it is much easier now to create products in the admin panel. The panel can also be customized and optimized to provide quick access to all the important business information.
5. More secure
Magento 2 platform uses a strengthened hashing algorithm (SHA-256) for passwords, making them more resilient to the dictionary types of attacks.
6. Trendy technology
Magento 2 is built with PHP 7 and JQuery and enhances APIs that allow buyers to complete their transactions faster and easier.
7. Better payment system
When customers make an order, their billing information will be sent directly from the website to the payment gateway, which makes the transaction more secure. In Magento 2, payment can be made in any currency through the newly integrated payment systems, including PayPal, Braintree, Authorize.net, WorldPay, CyberSource. This improved payment system also means a better checkout user experience.
Despite having many advantages, Magento is not a simple eCommerce solution – it normally requires expert developers with deep knowledge of the Magento platform as well as eCommerce. Moreover, the decision whether to adopt Magento for your business or not also depends on your business goals and the scope of your business.
To upgrade a site to Magento 2, it is important to know that this action is similar to rebuilding the existing store. Modules need to be purchased again because they cannot be retrieved from the old store, and the content and settings need to be migrated entirely. Themes, customizations and translations must be made again from scratch. Updating a Magento 2 store can take between 5 and 10 weeks, it all depends on the complexity of the project. Stages covered during this timeframe are design, programming, testing and optimization.
Looking for a professional Magento 2 development service or simply a consultant for your next eCommerce platform? Contact our Aidmond Solutions Team today and let us help you build the successful online business of your dream!