The e-retail is currently estimated to be $3.1 billion and is projected to grow up to $20 million by 2018. With the continuous rise in the growth of e-commerce sector, it is imperative that you’re familiar with all the limitations and risks associated with that sector, as it will help you gain a competitive advantage. And most important of all, you should pay attention to choosing the right platform for building your e-commerce online store.
Thankfully, there are several great open-source e-commerce platforms out there that can help you build your e-store in a quick and easy way. Some of the leading e-commerce platforms that are used by thousands of online retailers worldwide are Magento, WooCommerce, OpenCart and many others. However, among other e-commerce platforms, Magento happens to be the best choice for building an online store. This can be attributed from the fact that more than 240,000 online retailers worldwide trust Magento software for e-commerce development.
Have you ever explored the reasons that make Magento the best e-commerce platform compared to its counterparts? Is it because of the features it offers, or support it provides to build an online store? The purpose of this post is to make you aware of things owing to which Magento holds the leading position as an e-commerce platform in the e-retail market.
Statistics to Justify Magento Leading Position in The E-commerce Market
Below are some stats that show clearly that Magento is the most popular e-commerce platform over the web:
1. Based on an analysis performed by Hivemind’s ecommerce market share in 2015, Magento growth was estimated to be 20 percent in the busiest sites on the web in the last twelve months. And out of 56,000 ecommerce sites in the Alexa top 1 million, nearly 26 percent of the websites use Magento as their e-commerce platform.
2. Magento together with the other Enterprise Commerce Platform of eBay lead has increased among providers to midmarket merchants. Besides, eBay Enterprise (along with two platforms taken together) secured 2nd position in the 2014 IR Top 500 survey.
3. According to a popular study conducted in October, 2014 it was concluded that “the top thousand websites in Alexa ranking contain 68 percent more Magento CE sites compared to the ones powered by the WooCommerce platform.
4. Based on Google Trends analysis from the month of January 2010 till July 2013, showed how Magento enjoys a leading position compared to other e-commerce platforms around the world.
5. According to builtWith usage stats, over 7,000 e-commerce websites out of the top 1 million sites run on Magento.
6. According to a survey carried out by Forrester Consulting, using the Magento platform resulted in around $40 million annual online sales.
7. Holding 26% e-commerce market share in 2014, there has been an increase in the number of online stores that prefer using the Magento software. What’s more? Magento offers superior and matchless customization ability than its competitors, as it offers 1,900+ templates and thousands of built in extensions.
What Are The Major Reasons Behind Magento’s Phenomenal Success?
Almost every online business opts for Magento CMS for their e-commerce website development needs. It is an open-source CMS that boasts a robust and user-friendly interface, and thereby helps in developing online stores. In fact, Magento is one of the most searched e-commerce solution on the Internet, which is suffice to prove its popularity among webmasters and individuals alike.
Let us now look at the major reasons because of which users prefer using the Magento platform for e-commerce development:
1. Enables Setting Up Multiple Stores: Magento gives the ability to manage multiple stores simultaneously from the same admin panel. To be more precise, it offers a one-click solution to handle several stores in a hassle-free manner. So, irrespective of whether you want to have one Magento powered store or many, opting for Magento e-commerce development can help you address the needs of your e-store efficiently.
2. Help Personalize Shoppers’ Experience: The current generation users demand personalized shopping experience, which enables them to perform any action on an e-commerce store in a seamless manner, based on their preferences. Having a Magento powered store can help you provide personalized shopping experience by running targeted promotions, or giving your visitors the options to make their shopping experience comforting.
For instance, you can display special offers, promotions, etc. in your Magento online store. Besides, Magento provides the option to add products in the ‘Wishlist’ that customers can view anytime as they want.
3. Allows to Segment Your Customers: Gaining good knowledge about your customer’s behavior and shopping habits can help you provide them an optimal shopping experience, which ultimately helps in increasing profitability. With a Magento online store, you can segment your customers by looking at the shopping history in your customer’s cart, or by making use of demographic criteria, etc.
4. Facilitate Users With Better Browsing Options: Magento store offers several advanced features that help enhance shopping experience, which includes the capability to zoom product images for an enlarged view, product reviews, and more. Besides, it helps recommends products that customers might be interested in buying, show layered navigation to help visitors quickly locate the products they have been searching for and so on.
5. Offers Effective Marketing Tool: Magento provides access to several effective tools for generating more cross-sells and up-sells that help introduce users to products that they’re interested in. In addition, Magento provides additional buying options at the time of check out. Both these factors help in encouraging visitors to purchase more products, and thereby boost revenues and sales.
6. Easy Ordering and Payment Options: The more ordering and payment options you will provide to your customers, the more opportunity it creates in getting your business a better return on investment. Unlike other e-commerce platforms, Magento offers several ordering and payment options to choose from the admin interface. One great aspect about the Magento platform is that it allows your website users to view their complete transaction history.
With e-commerce growth, increasing at a rapid pace, embracing an e-commerce solution can help you expand your online business to a wide targeted audience base. However, as more and more online businesses and retailers are jumping on the e-commerce development bandwagon, it is important that your online store can help you gain a competitive edge over your competitors. And, to achieve such an objective, it becomes needful that the e-commerce platform you’re using can help address all your e-commerce website needs.
There are several benefits and features that the Magento platform offers in setting up an e-commerce store that match up to your expectations, and most importantly, one that provides personalized and an enhanced shopping experience to customers. So, if you are planning on getting started with e-commerce website development or simply want to redesign your existing online store, using Magento will definitely help you meet all your e-commerce development needs.