At the last count, approximately 1 in 10 eCommerce websites are globally powered by Magento – and the number is constantly rising.
However, a large number of users are stuck with the conundrum of – should we upgrade from Magento 1 to Magento 2 or continue with the old version?
Well, this confusion isn’t wrong since there is nothing bad with the original Magneto platform. The only issue being – the lifespan, that is coming to an end in 2020. This follows Adobe’s $1.68 billion acquisition of Magento – thus serving as a cherry on the cake. The acquisition has popped innumerable discussions about how the entire eCommerce ecosystem could change.
Magento 2 has been the talk of the town for long and some businesses have considerably reaped benefits after migrating from Magento 1 to Magento 2 or any of its latest versions – including Magento 2.3. The transition might seem an arduous task to many but at the same time, an improved version of any technology serves and sounds better.
No, don’t worry. We are not asking you to instantly upgrade. Before jumping to any conclusions, let’s have a quick look at what’s new.
Magento 1 vs Magento 2
Improved Performance And Scalability
As per the results and usage, Magento 2 runs an average of 20% faster in comparison to Magento 1. It comes with an enhanced indexer that helps in increasing the query performance speed and transforming merchant data like catalog data, prices, users, stores, etc by creating index tables and updating them regularly. This helps in:
- Optimizing web pages for a faster delivery
- Increasing server response times for all website activities
- Improving the efficiency of backend operations
- Enhancing database flexibility and scalability to handle peak loads
With 80% of internet users owning a smartphone, it has become mandatory for brands to go mobile. In other words, responsive is the keyword for eCommerce success. Luckily, the Magento team recognized this and made mobile responsiveness a priority in this platform.
Accompanied by new responsively designed (and SEO-friendly) themes, integrated video and easier checkout, it improves the look and function of stores on mobile devices and encourages mobile sales. In addition to the front-end of the site, the admin panel is touch-screen friendly allowing you to manage your store on the go.
The checkout process is one of the key factors that determine whether or not your store makes sales. It forms one of the biggest reasons behind cart abandonment. According to a survey, 69.23% is the average documented online shopping cart abandonment rate.
A Baymard Institute Research revealed that it is possible for an eCommerce website to gain a 35.26% increase in conversion rate if it improves its checkout process. Magento 2 takes this into consideration by offering an improved checkout process that consists of a 2 step process.
Furthermore, it provides a way for visitors to be recognized as guests. This waves away the login or registration form required for users to proceed to the checkout page and makes way for easy, quick checkout.
Well, the features or rather the benefits speak for themselves.
Indubitably, your business is going to reap benefits and profits. Now the question: Is Magento 2 migration mandatory?
With June 2020 rolling, Magento 1 will be unofficially dead in the water. For a secure and reliable eCommerce business and store, this upgrade forms the bedrock. You might smoothly carry on with Magento 1 for now but as soon as support stops and updates dry up, you might land up in a pothole and become vulnerable to hackers targeting these sites.
Though the migration process isn’t easy and certainly involves huge efforts, expertise, money and time – but it is sure to take your eCommerce business to another level.
Coming back to where we started: whether Magento 2 migration is worth the effort – the answer would probably a big YES. Considering the value of migration, it would be best to avail professional Development Services. While doing so, list out all the improvements that you look forward to because now is the best time to get a complete revamp.