Studies Reveal How Magento 2 Drives Revenue Growth

When it comes to online shopping experiences, it is sort of mandatory or brands and merchants to engage customers wherever they are, adapt to changing consumer needs and constantly iterate on the commerce experiences they deliver.

While these demands have created a strain on many merchants’ budgets, the Magento community always comes up with an unbeatable path to empower businesses to better orchestrate end-to-end consumer experiences in a cost-effective way – Magento 2 being one of those ways. Ever since it came into existence, it has taken the eCommerce world by storm. It has helped businesses and brands, of all sizes, to increase their revenue and profits.

Well, the Magento community recently got hold of some proven facts.

Earlier this year Magento community commissioned Stax, a global strategy consultancy, to evaluate the business value associated with a Magento Commerce 2 migration. The study considered customers of varying size, geographies and their paths to Magento 2 (those that migrated from Magento 1 vs. Those who dropped a competitive solution). The study revealed key insights about the decision-making process, KPIs, cost and other benefits associated with upgrading Magento 1 to Magento 2.

“Benefits of migrating to Magento Commerce 2 include the ability to drive revenue growth, increase average order value, improve website conversion rates, and increase site traffic,” said Gregg Silver, engagement manager at Stax. “The key findings show there are clear benefits to migrating to Magento Commerce 2.”

Indeed, customers that have migrated to Magento Commerce 2 already experience a cost savings of 62% when deploying new content, such as landing pages or new product launches. Here’s how:

Magento’s intuitive user experience design makes it easier for marketers and Merchandisers to create and manage content.

Further, it was inferred that customers achieve greater efficiency through Magento 2’s extension marketplace. Respondents, in comparison to their previous platforms, saved an average of 91% when purchasing and implementing a basic Magento 2 extension. There are also built-in “premier” extensions that significantly cut down the time and money spent to implement key capabilities such as marketing automation, shipping & logistics, payment and fraud protection, and more.

Thus, the reasons for choosing Magento were based on how it can be customized to meet customers’ specific needs. Let’s have a look at some of the features of Magento 2 – that makes it a preferable choice.

Magento offers a rich set of features for merchants who seek to market their products, offer promotions to your customers and increase sales conversions. Starting from the basic “related products, up-sells and cross-sells”, it has in-store all the tools one would need to increase their eCommerce sales.

User-friendly Approach
Improved Product Section
Magento UI Library
Improved Performance and Scalability
CSS Preprocessing
Product and Attribute Configuration
Improved Checkout
Secure Payments
Easier upgrades and maintenance
PSR Compliance
New Layout Elements

Apart from these, there is a whole new Magento commerce 2 world waiting for you.

It’s for these reasons merchants and brands continue to invest in or migrate Magento and to target new audiences which ultimately drives real revenue, profit and growth. But “make sure that you have the right partner because they can help you to prepare more effectively and to maximize the outcomes that you can achieve post implementation.” – as said by Gregg.

Key Takeaways

The Magento community never fails to impress its users by bringing platforms and updates that serve as the cherry of the eCommerce cake. The same goes for Magento 2. With Magento 1 support ending in June 2020, it’s recommended for businesses to migrate to Magento 2 and why not? The community has actually proved the reliability and credibility of Magento 2.