In November 2015, Magento announced the new 2.0 platform and its latest release, the improved and optimised Magento 2.4 was released in July of 2020. Magento has the largest share in the eCommerce market and is growing rapidly. Among the top 10k web stores, Magento has a share of 7% of it. There is a staggering 98,210 live websites using Magento 2 and an additional 97,979 sites that used Magento 2 historically.
What is Magento?
Magento is the eCommerce software and platform that is trusted by the world’s leading brands. Magento 2 is considered to be one of the most compelling and popular eCommerce platforms. That is why Magento frequently upgrades its platform for both performance and security reasons. In July 2020 it released Magento 2.4. The newest release focuses on delivering more opportunities to B2B and B2C store owners. It comes with a long list of features and functionalities as well as bug fixes, test cycles and security enhancements. In this post, we will talk you through the main benefits upgrading to Magento 2 can offer. There is a reason why it is trusted by heavyweights such as Coca-Cola, Canon, Nike, Land Rover, Harvey Nichols, and Sigma Beauty.
Magento 2 unboxes new functions and substantial benefits such as:
- Better purchase approvals
- Faster time to market
- Improved storefront performance
- Boosted API performance
- Faster admin response time
- Improved default search engine
- Support for remote storage solutions
Let’s jump right into the details of some of the most impressive & important features Magento 2 has to offer and get you up to speed on how Magento 2 can drive forward your digital commerce success.
1. Improved Performance
The performance of your eCommerce store significantly impacts the growth of your business. When compared to Magento 1, Magento 2 store pages load 30 – 50% faster, Magento 2 can process 39% more orders per hour. In addition, Magento 2 provides up to 51% faster end-to-end checkout times. Faster site speed encourages more sales and increases website SEO.
There are several built-in and third-party options you can utilise to speed up Magento 2 and provide a lightning-fast website. From JS bundling and critical CSS to new image formats and caching, they all work together to ensure a better shopping experience for your customers.
2. SEO Friendly Platform
With every eCommerce website development strategy, SEO takes up a significant part of it. With that in mind, Magento 2 Is one of the most, if not the most SEO-friendly platforms on the market. Magento 2 has been developed in the best interests of eCommerce stores to help them rank and get more targeted traffic. It allows you to enable SEO-optimised URLs, generate HTML and XML sitemaps, configure robots.txt, set canonical tags and many other features out of the box.
3. More Mobile Friendly
Mobile responsiveness is vital in improving sales. As more and more people are shopping on their smartphones and tablets it is becoming increasingly important to have a responsive site. The Magento team recognised this and made mobile responsiveness a priority in the core Magento 2 platform. Magento is developed responsively, making it mobile-friendly, including a very mobile-friendly checkout experience. The Magento 2 platform includes responsive design reference themes, you can now design and execute sites that can be viewed by all devices and on different screen resolutions seamlessly.
The entirety of the Magento 2 admin panel is touch-screen friendly, making managing your online Magento eCommerce store a breeze. Your store’s catalogue is easy to navigate, regardless of the device or screen resolution used.
4. Enhanced Security
Magento 2 allows you to safeguard your eCommerce store and manage internal access effectively with security permission. To prevent unintentional breaches, you can create a secondary password. For a higher level of security, Magento employs CAPTCHA and PCI Data Security. Magento 2’s hashing algorithms (SHA-256) for passwords have been strengthened, and as a result, passwords are now more resilient to the dictionary types of attacks.
5. Marketplace Integration
Magento 2 allows for the integration of popular marketplaces such as Amazon and eBay. This allows retailers to create an omnichannel experience which allows their products and services to reach a much broader audience which can all be managed with ease through the Magento platform dashboard.
“This enhanced capability from Magento helps merchants simplify the listing process, and measure the value gained from this important channel.”
6. Payment Possibilities
Problematic payment could be one of the reasons why visitors don’t complete their orders and opt to abandon their baskets. However, not with Magento’s newest release. The assortment of payment options available on the platform answers the question of why Magento is one of, if not the best choice for eCommerce website development. It supports payment methods such as PayPal, Credit Card, Apple Pay, Google Pay, Braintree, Amazon Pay, WorldPay, Google Checkout, and Opayo (formerly Sage Pay) along with buy now, pay later options such as Klarna, DEKO and Clearpay plus many others.
7. Upgraded Admin Interface
The new admin interface is designed to help reduce the time managing an online store. Unlike Magento 1’s messy design, the admin panel in Magento 2 is more responsive, user-friendly, and interactive with a simple and modern design. Admins can customise the admin panel so vital business information can be accessed and viewed quickly and efficiently. Each admin profile is personalised for each user, this helps to increase productivity when managing products, orders, and customer data. Creating products in the admin panels is easier than ever, with 4x faster product import capabilities.
8. Customer Persuasion
Another great feature of Magento 2 is the various upsell and cross-sell capabilities you can utilise to enhance the user shopping experience and increase order value. You can easily add promotions to checkout pages which can boost your sales potential and reduce your Magento store’s cart/basket abandonment rate. Aside from promotions and crossing selling efforts, Magento 2 provides easy features to add rich media such as videos to express your products in ways you want to attract more customers to buy.
9. Advanced Reporting
Data is crucial for an eCommerce store; it allows merchants to gain insights into the behaviour of consumers. Magento 2’s new advanced reporting features provide 20 reports through its web interface. This feature provides you with insight into three critical areas.
The reports help in keeping you updated with different changes. The changes include the number of orders, taxes, shipping fees, registered accounts, and product orders. It also offers insights into best-selling products. Magento e-commerce allows you to start managing eCommerce businesses with the latest insight, data, and metrics.
10. Multi-Website Setup
This is probably one of the top features that make Magento 2 stand out from the competition. It enables you to manage multiple websites, stores, and store views all from one dashboard. You can enable a multi-website strategy, and manage products, sales, and orders for each of the shops separately. So, we can’t but point out the user-friendliness of the platform and for the admin users as well.
The beauty of Magento 2 is that it provides a multitude of native features and functions – which were only available via extensions in Magento 1. The native features and functionalities of Magento give your business the flexibility and agility required to deliver outstanding customer service and strong sales.
Magento 2 is one of the best eCommerce platforms currently available. When executed correctly the platform can provide your business with the ultimate scalable eCommerce solution that your business needs to support its growth for years to come.
In our experience, Magento is an excellent e-commerce platform for retailers because of its flexibility, scalability, features, reliability, and support network. It’s used by Fortune 500 companies such as Nike and The North Face whilst still being suitable for small businesses.
Making sure Magento 2 is right for your business, creating a defined technical statement of work that outlines in detail your business requirements and finding the right specialist partner is key.
Want to explore Magento 2’s functionality further, and see the impact it could have on various areas of your business operations? Then give us a call for a chat with one of our Magento 2 experts today.