Since 2008 Magento has been the e-commerce platform of choice for thousands of retailers around the world, providing a secure and functional platform to facilitate online stores. However, unsurprisingly given the age the original Magento platform has come to the end of its lifespan, replaced by a faster and more secure platform – Magento 2.0.
Magento 2.0 offers the functionality and reliability merchants have come to expect from the Magento platform, however, version 2 is updated with increased features, security and speed to improve the user’s experience of your retail site.
Rest assured your website isn’t going to immediately fail come July 1st, though given there will be no further updates it’s important to consider your next course of action to maintain the quality and security of your site.
As an online retailer, the security of your site is critical to the success of your business and to maintain your reputation as a trustworthy brand. Over the past 2 years, Magento has released a security patch every 6 to 8 weeks, with some individual patches addressing up to 20 or more security issues at any one time. With these patches ceasing to exist beyond June 2020, your online site will become vulnerable to cyber-criminals and hackers looking to exploit the vulnerabilities of e-commerce stores.
Potentially compromised security will lead to the failure of payment gateways across many sites, impacting a merchant’s ability to transact online. Most payment gateways are subject to a Payment Card Industry compliance scan every 90 days to ensure the safety of customer data. Without regular security updates issued from Magento and regular site audits, many will find their online stores won’t meet the requirements of the PCI scan leaving them unable to accept credit card payments online.
Overtime continued reliance on Magento 1X will degrade your site and it will become slower to respond. A slow, laggy, unresponsive shopping site will frustrate customers who will look for more responsive alternatives. Merchants can expect to see an increase in abandoned carts as your customers turn to retailers who can support their impulsive shopping desires in the timely manner they’ve become accustomed to.
Most developers who contribute to the Magento marketplace will stop releasing Magento 1X extensions and themes from mid-2020 which will mean retailers will find it hard to add new functions and features to their sites. With no future extensions likely for the original platform retailers will find it difficult to keep up with the technology of their competitors.
Magento will cease to support the version 1X, leaving merchants and developers to solve any issues on their own accord which will more than likely take longer than expected to reach a resolution and come at a greater cost to the business owner.
As uptake of Magento 2.0 continues to grow the number of developers equipped to work on Magento 1X will decrease, meaning those who will support this platform will become more expensive to hire.
The success and popularity of Magento 1X have paved the way for a successful well-received launch of Magento 2.0. Magento 2.0 provides its merchants with a functional and feature-rich platform to enhance the online operations of e-commerce stores. Magento 2.0 is a faster, user-friendly, SEO optimised platform with greater security functions than its predecessor.
Director, Patrick Howard says, “Migrating to Magento 2.0 will be hugely beneficial for e-commerce retailers improving speed, performance and security for your e-commerce business. Our team can successfully guide you through the migration process so your business can reap the benefits of this improved platform”.
Magento 2.0 has strengthened the algorithms in their password management systems, increasing the security of the site to protect customer information and data from online hackers and criminals.
The updated platform sees pages load up to 40% faster than its predecessor creating a more responsive shopping experience for your customers.
Magento 2.0 allows for an engaging and personalised shopping experience across any device. Sales conversion rates improve with a simpler check out system and customers can easily create an account saving their profile in just one click, making future purchases effortless.
The dashboard of the original Magento platform has been a real pain point for retailers. The developers of Magento 2.0 has taken this on board and have created an updated user-friendly dashboard for the upgraded versions.
Magento 2.0 offers 20 reports through the web interface providing greater insight into three critical areas of operation- orders, customers and products.
Deciding to move to a new platform and upgrading your systems can be a complex business decision dependent on your business goals, timeline and financial position. However, as the support for Magento 1X will soon completely cease, an action plan to find the best possible working solution is necessary.
On the team at The Web Company, we were one of the first adopters of Magento when it hit New Zealand. There are only five companies in New Zealand with Magento 2.0 certified specialists in their team and we are one of them. We can have an expert in this field successfully assist you and your team migrating your e-commerce site from Magento 1X to Magento 2.0 seamlessly.
However, if you decide Magento 2.0 is not the best platform for your business we can assist you with other options too. We’re partners for popular brands such as Shopify and BIGcommerce.
We’re happy to provide a free consultation to help you decide what platform is the best for you and your business moving forward. Call The Web Company today to see how we can help