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What is Magento and what are the benefits?

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Magento is a powerful open-source e-commerce solution designed to power online stores ranging from small start-ups to large stores, including many well-known brands.  In all, over 250,000 e-commerce sites use Magento, with annual merchandise volumes exceeding $155 billion.

Magento was released in om August 2007 by its then owners Varien Inc. Due mainly to its easy customisability, Magento rapidly gained popularity, and in 2010 eBay acquired a 49% stake in the business, increasing that to 100% the following year and integrating it with PayPal. When eBay and PayPal split in 2015, they spun off Magneto as an independent company. Following its acquisition in 2017 for a reported $1.68 billion, the brand is owned currently by Adobe. The current version is Magento 2.3.7.

There are several excellent alternative e-commerce solutions such as BigCommerce, Shopify, WooCommerce, and more, so why choose Magneto over these? Unfortunately, there is no simple answer – it very much depends on your current position and where you want to go in the future. Furthermore, the best solution for one business isn’t necessarily the best for another. So let’s look at some of Magnetos benefits that make it an attractive choice.

  • Speed and scalability

Magento’s many features include an advanced indexer, which speeds up query performance, significantly improving the overall performance of your online store. It also uses state of the art HTTP accelerator technology, allowing full page caching to provide rapid page loading and significantly reduce bounce rates.

Magento will continue to handle your e-ecommerce with ease as your business grows.

  • Mobile friendly

It almost goes without saying that Magento is mobile-friendly, but with most mobile users purchasing online with their smartphones, it would be crazy to use an e-commerce platform that wasn’t. But for the record, Magento is and makes managing your store easy.

  • Upsell-friendly

Magento makes it easy to add upsells, cross-sells and other promotions along with rich media to your web and checkout pages.

  • SEO Friendly

Organic search is the most efficient way to grow your nosiness, and Magento incorporates various SEO features that simplify creating SEO friendly URL structures and meta-descriptions throughout your website.

  • Optional security features

It is easy to add advanced security features such as Google reCAPTCHA, PCI Data Security, two-factor authentication, SSL and more. Magento also actively monitors the platform and provides security patches for identified vulnerabilities.

  • Marketplace integration

Integrating with marketplaces such as Amazon and eBay allows merchants to benefit from multi-channel selling and reach a wider audience. You can also manage multiple online stores from a single implementation.  

  • Easily customisable

Magento was developed to be customisable – it is easy to install themes, extensions, features such as single-step checkouts, quick views, alternative currencies and languages, and more.

  • Advanced reporting

Data is key to developing your business. With Magento, you have access to multiple reports covering all you need to know about to keep on top of your business, products, customers, shipping, and more.  

Magento is free to download, which makes it very appealing to entrepreneurs seeking to create their first webstore, though as you might anticipate, the costs can soon build up as your business grows.

Magento open source is the free version, though you should budget for the costs of hosting, themes and other extensions you might wish to incorporate and marketing. It includes all the functions you need to run an online store, including Integrated checkout, payment, shipping; catalogue management; buy now; and site search functions.  The open-source version is adequate for most reasonably sized stores, and around 83% of Magento stores use it.

Magneto Commerce and Magneto Commerce Cloud versions are designed for larger enterprises and incorporate more features, including enhanced security. The pricing model for these depends on your gross sales revenue. For annual revenues of less than $1 million, Magneto commerce costs $22,000 per year, followed by a sliding scale up to $125,000 per year for average revenues of $25,000,000 and over. Pricing for Magneto commerce cloud ranges from $40,000 to $190,000 per year.

Magento won’t be the best solution for everyone; for instance, expanding the platform  can become a little expensive. It can also take significantly longer to launch a store than SaaS solutions such as BigCommerce and Shopify Plus.

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