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The future of eCommerce is bright. Very bright. If you are looking for business expansion, you’ve arrived at the right place to understand why Magento development would be the right fit to improve your online growth.
Whether to shop with online retailers or visit a physical store — this is the choice every consumer faces when purchasing — if you are looking to venture into eCommerce or wanting to expand your existing business, no better time than this.
Global online retail sales in 2019 amounted to nearly 3.5 trillion dollars worldwide, proving eCommerce is a lucrative option for brands of all sizes, always.
The best part about online shopping is that:
- You can shop from anywhere in the world
- You receive the products within a day or two
- You have access to more product information
- You have multiple options to choose from
- You can compare prices and then come to a buying decision
Shopping is all about convenience and experiences. Fortunately, eCommerce ticks off both giving customers many added advantages while shopping.
Online Presence Will Become A Must
It is estimated that 3 billion buyers will have access to the internet by 2022, and that’s a lot of potential customers. There are umpteen opportunities for eCommerce brands to create a niche for themselves, spread across continents, and reach new audiences worldwide.
Let’s take a look at the numbers which prove eCommerce is already on the verge of becoming the game changer disrupting the way people shop.
- The total value of global eCommerce sales will reach $4.13T in 2020.
- By 2023, the USA’s eCommerce revenue will be $740B.
- eCommerce will make up 22% of global retail sales by 2023.
- The expected level of digitally influenced purchases is $3.9 trillion.
- By 2040, around 95% of all purchases will be via eCommerce.
- 80% of Internet users in the US have made at least one purchase online.
- 43% of global shoppers research products online via social networks.
- Worldwide, the share of Mobile Commerce will rise to 72.9% by 2021.
- Online shopping on mobile increased from 8% to 15%.
eCommerce is growing every day, and launching an online store can help increase sales and gives customers a more convenient shopping experience when they want to buy or check your products.
Setting Up An Online Store
The best time to start your online shopping store? Right now.
The best time to expand your online business? Now, now.
Even if it’s not for buying, more and more customers are searching for products online – researching and reading reviews. You will be missing out on a lot of potential customers if you are not catering in online marketplaces where they throng.
Setting up an online store is similar to setting up a physical store. Of course, the main difference is all the action happens in the virtual space for the former.
If you are already in the circle of competition and looking for exponential growth, you need the right strategies to navigate through the competitors so your products can be seen first by the customers. We all dream of making our business worth millions of dollars, and it is indeed possible to understand the market and play to the tunes accordingly. Or break the rules and be the next industry leader. The choice is yours, always yours.
If you are new to the world of online shopping and want to start, you have to choose a trusted platform and an agency that can build your online dream store understanding your business requirements.
Whether you are already in the game or just entering the field – Magento covers you both by offering unlimited possibilities to create your own experiences and elevates your brand to the next level.
Magento Development For Your Online Store
Magento is one of the world’s most popular eCommerce platforms. As a result of being acquired by Adobe, the chances are high that we can see many stellar and practical features with highly improved shopping experience coming to the forefront in 2020 to create a significant impact for the online stores.
According to Forrester, eCommerce businesses attribute 10% – 80% of their revenue increase to Magento. Thanks to its world-class features and mobile-friendly theme that delivers (and has been delivering) enriching experience for the customers across the globe.
- Merchants using Magento 2 grow three times faster on average
- More than 250,000 merchants worldwide use Magento
- 202 Magento users are in Internet Retailer Top 1000 List
- Magento handles over $155 billion transactions every year
- Over 4,000 extensions available at the Magento marketplace
As of now, more than 250,000+ online stores are powered with Magento as their eCommerce base with premier brands like Samsung, Ford, Olympus, Nike, CocaCola, Lenovo, Vizio, and many more following suit.
There are good chances Magento 2 can become the right-fit for improving your business too!
Why Magento Development?
Let’s take a look at how Magento 2 development can power your business from the ground up and also support your growth in the long-run.
- Open Source
You can design your online store the way you wish. And that’s what Magento Open Source allows for businesses to start selling and improve their growth.
The best part is the cost to download, and to use it is zero dollars. Yes, you have heard it right. Magento Open Source is free to use.
Imagine you are given a white paper and are allowed to paint and fill colors the way you want to enthrall every person who is going to look at the blank paper to be transformed into a beautiful canvas. Magento Open Source is more or less the same. It gives you full freedom to decide and do what best suits your business and customers.
- Speed of Magento 2
The speed of your website matters the most. A fast loading page improves site traffic, impacts conversion rates, and increases sales performances.
If your online store loads fast, you’ve instantly made an excellent first impression. And you get a quick brownie point for user experience.
How long are users willing to wait for a site to load before abandoning the page? Not more than 6-10 seconds, a study says. And that’s not it – a one-second delay in page response can result in a 7% reduction in conversions, says the same research.
If you are thinking about Magento 2 speed and whether it loads quickly? Without a doubt, the answer is a yes as Magento 2 comes with a 20% speed increase compared to its earlier version. It is helping you sell more and quickly with an optimized website with all the traits to convert casual visitors into customers.
- Magento 2 Personalization
By 2020, smart personalization engines used to recognize customer intent will enable digital businesses to increase their profits by up to 15%, says Gartner.
48% of customers spend more when their shopping experience is personalized, and 90% of marketers believe that personalization is the future.
Showing individualized offers, products, and services recommendations based on your customers’ previous actions and demographics constitute offering personalized experiences.
Magento 2 helps you to collect the data of your customers through cookies and other variables such as city, country, device type, OS, and more.
With the right infrastructure and offerings in place, Magento 2 will help companies not just to provide personalization but also increase conversions.
- Magento 2 Security
If you own a physical store, you most likely must’ve hired security guards, invested in alarms and surveillance cameras to ensure that your customers can shop in a secure environment. An eCommerce business is no different and needs to be protected from any forms of malicious activity and to keep the online transactions safe.
Plus, a secure online store promises an optimal experience and increases your brand credibility. Customers can shop without having fears of their data getting stolen or money being used by some fraudulent people.
Magento 2 supports advanced built-in security options, like SHA-256 (Secure Hash Algorithm 256), for passwords, making it less possible for a dictionary attack to succeed. Magento 2 also comes with the fraud protection system Signifyd.
Some of Magento 2 Security features are:
- Enhanced Password Management
- XSS Protection
- Flexible File System
- Use of Non-default Magento Admin URL
Create the most secure shopping environment with Magento 2. Do you want to know how secure your site is? Check it out.
Adapt change and adopt changes. Quick!
A flexible eCommerce solution is being able to cater to customers’ needs wherever they are, in any device or touchpoint – website speed, performance, fast checkout experience, consistent content pages, single source of truth, or anything that has to do with elevating shopping experience.
To ensure a flexible and robust solution, online stores need a like-minded infrastructure that lets merchants play along with the market trends. Powered by a new, next-generation architecture, Magento 2 offers unparalleled flexibility to bring your commerce vision to life with.
- Magento 2 Migration
Because No More Magento 1.
Hope you are aware that Magento (in 2018) announced that it would no longer be supporting or sending updates for M1 from June 2020 onwards – which means no security upgrades, no improvements in Magento 1 features, and performance issues might sprout up.
This does not mean your online store will be terminated from the source or that it would disappear from the search results, but since no updates are coming along its way, it would remain stagnant.
Overall, it is a risk for your business to continue to stay in M1.
There are an estimated 70,000 online stores on Magento 1. Is yours one? If your online store is still on M1, this is the best time for your business to plan your Magento 2 Migration to upscale your business empire.
- Magento Extensions and Magento Integration
If you want an extra feature that you think will accelerate your business, head straight to Magento Marketplace, where you can easily find 1000s of Magento 2 Extension to suit your business needs that easily extend your online store’s functionality.
Magento Marketplace is the next generation application store that offers merchants a curated selection of solutions and provides qualified developers the tools, platform, and prime location to build a thriving business.
From extensions of improved backend efficiency to SEO control and multi-user, there is something to everyone at Magento Marketplace. Take full control of your website by integrating with the necessary extensions and plugins to improve your online store’s overall performance and sales.
The extensions can be seamlessly integrated into your online store, and it also allows you to configure your own API’s if needed.
- Magento Community
Magento Community is a thriving ecosystem of 360,000 members with 8000 certified Magento developers and 5900 contributors. As exactly how Magento puts it forward, you can contribute, learn, and connect with 1000s of Magento enthusiasts.
- Contribute: Share ideas, tips & tricks, and other resources with eCommerce developers like you.
- Learn: Get all the resources you need to train, troubleshoot, and stay up-to-date on all of your eCommerce websites.
- Connect: Talk with experts and peers so you can make the most of Magento Commerce attending meetups and events.
The community increases your exposure and helps you innovatively grow online stores if you are an individual developer or part of any agency that works with Magento 2.
- Magento 2 Multistore Setup
Move out of your home waters and start selling across the world by having a multistore setup that helps you to sell and scale.
Vast eCommerce stores with multiple spheres can be challenging to navigate, and most customers aren’t there to browse – they would prefer to find the right product page as quickly as possible. Merchants can offer that by providing more relevant content, aided by a multistore setup.
Brands can venture into new horizons with websites in other languages to offer a more localized experience, which usually works the best—no product limits and upload as many as you can withstand. Create diverse strategies with integrated SEO management and marketing. And do it all and much more, from one central dashboard for management of Magento Multistore(s).
- Magento SEO Friendly
Which merchant would not love to see their brand getting listed on the first page of search engine results? Now, brands can make it happen by building and designing SEO friendly websites and landing pages.
Ensuring high rankings is directly related to getting more traffic to your website, which translates to prospective conversions. Infuse rich content, optimize your site, and find the right audience for your online store with the right keywords – all with Magento 2 SEO.
Apart from the basic SEO settings like meta tags, meta descriptions, the suffix for product and category URLs, and so on, here are the key Magento 2 SEO Features:
- Product Page Optimization
- XML Sitemap Generation
- Magento 2 Rich Snippets
- Integration Schema.org
- Product Images Label Work
- Related Products Upsell and Cross-sell
- eCommerce Tracking and AdWords Conversions
- URL Optimization
Use the relevant keywords, optimize everything that can be, and appear ahead on search engines. Make the best use of Magento 2 SEO friendliness.
- Magento 2 Mobile Shopping
The future is mobile.
By 2021, it’s estimated almost 50% of online sales will come from mobile shopping. Smartphones changed the game of the way people show nowadays!
Will you believe that 85% of customers prefer shopping via mobile or any other computer or device? If your current or upcoming online store is not compatible with mobile devices and does not offer the same experience when done on different devices, it is definitely not good news to you.
It is not possible to outshine and outrun others in the existing eCommerce environment if you are not going to emphasize more on Mobile Commerce.
Magento 2 helps brands to build/convert websites that offer rich-experience across all platforms and digital touchpoints. With features such as mobile-friendly checkout, responsive themes by leveraging built-in design, and PWA’s delivering the conveniences, Magento 2 is loaded with all it takes to help you take a leap with Magento Mobile Commerce.
- Marketing With Magento
Guess we don’t have to explain in depth how essential marketing is to every brand’s growth. Let dive straight away into understanding how Magento 2 complements your marketing efforts with its alluring features.
- Wish Lists to make customer visit again
- User-Generated Reviews because nothing influences than this
- SEO Tools to make you appear on top
- Special Pricing because why not
- Email Templates to communicate directly
- Better Promotions for targeted customers
- Optimized Product Category Pages
- Advanced Search Features Integration
With celestial features like these and many more, all merchants and marketers need to do is understand the market and formulate the right strategy for developing a niche and establishing your brand in the minds (or instead) the hearts of your customers and the potential ones.
- Easy Checkout
A convenient and quick checkout process is still an underrated joy.
It is impressive when you see a considerable amount of traffic thronging to your store. And contrastingly, it is unusual when you don’t see the conversions you expect despite the spike in website visitors.
When the cart abandonment rate is around 70%, brands have to do something, so their products get through the checkout process.
The fact is improving your checkout process helps you to decrease your cart abandonment and thereby increase conversion rate, the way you dreamt.
Magento 2 One Step Checkout – Enter details and complete the transaction. As simple as that. Even the custom payment methods can be easily integrated into the Magento store, offering the order summary so customers can see an overview of everything they’ve chosen.
Make checkout soon and see more conversions coming in more shortly!
- Headless Commerce
Headless commerce is where the front-end and backend of a commerce platform are de-coupled and stand independently of one another, separating the content presentation layer and the business logic/functional layer.
Magento 2 Headless Commerce gives you full creative freedom for all the touchpoints to design your customer experience, exactly how you want customers to feel and react when they step into your website.
Brands can implement UI/UX changes quickly, and an omnichannel digital transformation is also a viable option with Magento Headless Commerce. Both these, helping your organization to climb the growth ladder effectively.
- Product Customization with Magento 2
The trend of personalized products is here to stay.
How many times have you faced a situation where the customer was not happy with the product you received? How many times have customers assumed something, and the reality was different when the product reached their hands? Customer dissatisfaction is not a sign. Not only do you lose one, but that would ripple, making you lose out on many potential customers if the unhappy customer starts sharing the ordeal with his pals.
So, what can brands do to overcome this? What if you can let the customer design and decide how the products they want to purchase look like? With the advent of Product Customization, it is now a possible realm.
So many enterprise brands have already taken a cue and started offering custom products to their customers to stay ahead of the competition by choosing an enterprise product customization solution to supercharge their online growth.
Quick Guide: Setting Online Store On Magento 2
- Choose a compelling domain name
- Once you have a good understanding of your requirements, choose the right variant of Magento namely – Magento Open Source, Magento Commerce, Magento Community Edition, or Commerce Cloud. Or reach out to an expert if you aren’t sure.
- Have all of your assets aggregated
- Creative assets in terms of images
- Files to be available on the website
- Product Content (Integration from your PIM/seek for PIM solutions as needed)
- Choose a theme which aligns with your business needs from an aesthetic and functional standpoint
- Install Magento and then have the theme installed
- Setup the store properties from the backend of Magento. Most of it should be easily self-maintenance stuff
- Start incorporating/integrating your creative assets/products into Magento.
- Involve a partner to build custom functionality to suit your business needs.
More customers are shopping online now more than ever. Building a compelling online store or optimizing your existing online store for optimal results help you make incremental improvements in your business growth.
Now is the time to fully embrace digital transformation to open new possibilities, welcome new customers, increase sales, and importantly, to stay afloat and ahead in this already-viable stiff competition. With versatile features and rich user experience, brands can create an absolute digital experience with Magento 2.
Or need more details? Or do you want to clarify some wavering thoughts? Let’s discuss right away.
Remember: The future is online. Embrace digital.
Author’s Note: This blog has been originally published on January 28, 2013 and updated on June 22, 2020.