Magento 2 Migration – New Study Shows Drive in Revenue Growth

Posted on 25/7/2019 by VUDU
Stax, a global strategy consulting firm, was asked to determine the overall value businesses saw when they migrated to Magento 2, also known as Magento Commerce 2, in a recent study. Let’s take a look at some of the numbers and what they mean for merchants.

Support for Magento 1 is officially ending in June of 2020, and if you are one of the people running your business through it, you’ll soon have to make a decision to either switch to Magento 2 or pick another platform.

How the Study was Conducted

Stax compared Magento 2 customers of different sizes and locations. It analyzed those that migrated from Magento 1 to Magento 2 or migrated from a competing product to Magento 2. It analyzed their key performance indicators, the cost of each project, and the benefits associated with the Magento 2 migration.

The Switch to Magento 2 Lead to Significant Cost Savings

One thing that was discovered was that people who made the move to Magento 2 were able to save up to 62% when releasing new content, like product launches, landing pages, etc. The main reason for this was that managing the content was now easier because of Magento 2’s new and improved interface. The intuitive interface made it easier for merchandisers and marketers to manage and create content, which allowed technical resources to be allocated to more important tasks.

Implementing Magento 2 was also said to help companies increase their website conversion rates, traffic, and revenue. Furthermore, sites with Magento 2 saw an increase in average order value.

Magento 2’s Extension Marketplace Steals the Show

Magento 2’s extension marketplace was said to allow firms to save up to ninety percent on the cost of setting up and implementing functions like marketing automation, payment and fraud protection, and shipping modules. In one case, the same functions gained from a Magento 2 extension cost $10,000 more on a competitive solution. The comprehensive security and business-to-business (B2B) functionality built into the system also allows firms to gain these capabilities out of the box instead of having to pay more for them as add-ons to other systems.

For firms that already had Magento 1, they saw the greatest cost-savings when working with an experienced implementation partner. Having a roadmap for how data will be migrated, how processes will change with the Magento upgrade, and having a plan for meeting current and future functionality needs was essential to a smooth transition. The alternative is having to spend more time and money adding more extensions to get a good, working version.

If a business does need customization, Magento is cheaper and easier to customize to meet a firm’s specific needs than the alternatives. This is why many businesses switched from the competition to Magento 2. The large number of Magento partners means that firms can find a partner that has experience implementing a system that fits their particular business.

On top of all of this, Magento 2 is being integrated into the larger suite of Adobe products. This will add to the functionality of Magento out of the box and reduce the need to customize for those who adopt it in the near future.

What We Learned

This research seems very promising for the future of Magento and its users. If you haven’t made the decision to upgrade or are presently working on another platform, Magento is clearly making a case for itself as one of the best e-commerce platforms on the market, and it certainly deserves a look.

How to Switch to Magento 2

Our developers at WSI specialise in Magento 2 ecommerce web design and are ready to help you migrate your online business. Give us a call immediately on 028 9048 0257 to get the ball rolling!

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