The Revolution of eCommerce
At the beginning of the COVID-19 pandemic, the global eCommerce boom was driven by necessity. Online shopping offered a useful substitute as stores closed and consumers remained indoors to avoid getting infected. In recent times, eCommerce platforms are an essential part of our daily lives and their popularity among consumers is rising on a daily basis. As a result, this sector accounted for 19 percent of global retail sales in 2020, up from 16 percent in 2019, according to the most recent UNCTAD data. Therefore, growth is being fueled by a variety of factors, including marketplace expansion, mobile device ownership, and logistics.
As per investors’ point-of-view, the eCommerce boom will continue to expand, enabling greater opportunities across numerous industries, geographic locations, and industry verticals in time. It has become apparent that starting an eCommerce business is not only lucrative but also the next logical step in the evolution of business. It has never been simpler to launch an online business and set up a dynamic website for it. The tricky part is figuring out how to make your eCommerce site stand out from the countless others that exist. This is where the support of an experienced eCommerce development firm can help you meet your needs and utilize top resources to build you the best website the world has seen.
What is Magento?
The best eCommerce platform is the right way to go when starting an online business, as it will determine how successful you are. This is where Magento stands out from the competition in this regard.
Magento is a PHP-based open-source eCommerce platform for creating extensive and highly customized online stores. It quickly became one of the most well-liked software platforms for online retailers after its 2008 debut. The free and open-source “Magento Community” and the enterprise-level “Magento Enterprise” versions are the two formats in which it is currently offered.
Despite having a rather complex architecture, which accounts for its challenging development and maintenance, the platform offers virtually no restrictions when it comes to creating something customized and unique. To perfectly harness the power of this technological juggernaut, experienced developers are a necessity.
Many experts have fully explored its custom functionality and tapped into its full potential on multiple occasions. Magento comes with all the fundamental software tools required to set up and run an eCommerce business. Some of the best reasons to use Magento for website and software development include cohesive website management, flawless user experience design, extensive inventory, and catalog management, and clear account management.
With Magento, opportunities are limitless. It is a great option because it permits extensive customization in addition to having a large selection of plugins, themes, and extensions that can add functionality, enhance the design, and improve the user experience. Pickaboo, one of the most well-known online stores in Bangladesh, was developed using Magento, and it serves as a shining example of why this platform is the best in the industry.
Why is Magento the best option for eCommerce Website Development?
There are many options available when choosing a platform for your eCommerce development requirements, with Shopify and WooCommerce being the other two biggest players in the market. So why choose a sophisticated and pricey technology like Magento? The answer is based on your organization’s particular needs, preferences, and resources. Magento has many benefits, despite being one of the more expensive platforms for building online stores. For large operations, it is unmatched by any other platform. When all other factors are considered, users still prefer using Magento to build their websites, even though customization costs more and increases the budget. Additionally, the free version makes it simple for anyone to try it out. The list below shows the reasons why Magento is the best option for website development.
- Limitless Scalability: Magento is built to handle the quick expansion of any eCommerce business. Therefore, you can start by selling a small number of items to customers in your area and then easily add new products, payment methods, and shipping options as your business expands.
- Unmatched Third-party Integrations: This is a key benefit of using Magento as it increases the platform’s adaptability and functionality with straightforward extension. With a few clicks, you can incorporate PayPal’s express checkout options, manage your marketing campaigns with Mailchimp, and connect your eCommerce site to other marketplaces.
- Freedom to Select a Hosting Provider: Since the Magento platform does not include hosting, eCommerce businesses are free to select a provider that best suits their unique scope and needs. This is perfect for people or businesses who want complete control over their traffic. Therefore, it is one of the factors that make Magento necessary for successful online sales and purchases that meet objectives for the organization.
- Robust Security: Security is a key requirement for any business, even more so for an online one. Users will not even enter their real names on a website, let alone their bank credentials on a website that they cannot trust. This is one area where Magento excels over the competition, along with a number of other industry-standard built-in security features. Magento supports front-end and back-end SSL security for orders. Additional security can also be added by utilizing built-in features like two-factor authentication – something that guarantees user satisfaction.
- SEO Friendly: Magento is a fantastic fit for any owner of an eCommerce business because it is optimized for SEO and aids in helping merchants rank on Google’s first page. Since Magento is one of the most popular eCommerce platforms, obtaining SEO-optimized URLs is simpler. Thus, acquiring Google sitemaps, Meta descriptions, and Meta keywords, among other things, is also comparatively convenient. Quality content, design, and loading speed are crucial when it comes to gaining rank because these elements have the power to make or break your company’s search engine visibility, and Magento provides a great base for all of them.
- Breathtaking Speed: The importance of speed in eCommerce is a part and parcel. Anyone who frequently shops online dislikes having to wait for systems to load. Stress on the server may result from the application’s extensive list of native features. However, the optimum configuration of Magento ensures that such issues do not arise. Magento is, inherently, capable of handling thousands of products with its superior data management capabilities.
- An Open-source Platform Full of Potential: Magento is an open-source software platform with an amazing community that provides the best resources and helps maximize the potential of an eCommerce website. Experts highly suggest Magento to online store owners because of this inherent transparency.
Software development companies acknowledge Magento’s importance and understand the rising need of retailers for an exclusive, above-the-rest eCommerce platform to showcase their products. The competition is aggressive in the digital economy, and falling behind can cause long-term damage to reputations.
The Big Numbers
Understanding the scope of your project is crucial before diving further into the figures. In addition to learning about the platform’s fundamentals, you should be aware of its unique characteristics as opposed to those shared by other platforms. By selecting a platform that is most compatible with your project’s characteristics, your users will be able to see a noticeable improvement. The most adaptable eCommerce platform for open source software development available today is Magento. There is no denying that it outperforms every other platform in terms of essential features, reliability, adaptability, and expansion potential.
Software companies are often asked about the cost associated with Magento development. In reality, the prices fluctuate from year to year, which makes it difficult to determine the exact cost. Despite this unpredictability, companies try to go above and beyond for their clients to provide the best and most transparent services.
The Cost of Magento
It’s critical to grasp the price of the Magento Platform to comprehend the costs associated with developing a project with it. There are two main variants of Magento – the Community Edition, which is free, and the Enterprise Edition, which requires a monthly licensing charge. Each edition is a suitable option for a specific type of organization, from small to large corporations. As a result, selecting an edition requires deliberation on the kind of business you’ll start as well as your budget.
- Community Edition:
This version is unrestricted. Setting up your Magento store is as easy as downloading and installing. You have practically limitless customization options to tailor the store to your needs. However, setting up the business and putting it online would require spending more than $15,000 on things like a domain, hosting, designing, and development. Moreover, you can always enlist a freelancer or a custom software development company who can get these tasks done for much cheaper. It depends on the modules you want, approximately 65 extensions are needed to obtain functionality similar to the Enterprise Edition. From online stores like Magento Connect, you can obtain fantastic free or paid Magento themes and plugins.
- Enterprise Edition:
This model has a ton of bells and whistles right out of the box, but the high cost of all the features is a drawback. The Magento Enterprise Edition, which costs $22,000 per year with the Gold Support Package and much more with the Platinum Support Package, may be an option for big enterprises. Although some expenditures, like hosting and other features, are included in the starting price of the Magento Commerce Cloud, there are still ongoing charges that would push the price over $30,000 to $50,000. You will, however, receive the benefits of whatever customization you require, other supports, enhancements, and features that will improve the website, database administration, etc. in exchange.
The Cost of Design
Store owners have two options for design: either purchase a premade Magento template or employ a skilled designer to create a customized layout. Although utilizing a premade theme may limit how merchants may show their goods and information, it is a secure way to develop a comprehensive website for small businesses that want to start right away. Prices for Magento themes range from $0 to roughly $200 on the marketplace. However, because various customers may have different needs, charges will fluctuate unpredictably if you wish to modify themes. On the other hand, if you work with a software company or hire a freelance web designer, you will receive a thorough UX analysis that is focused on your unique requirements, target market, and business objectives. Hiring a team who understands the importance of web development will provide you with thorough research-based solution packages to choose from.
The Cost of Development
You can use a freelancer, a web development company that specializes in Magento, or your own in-house development team. Each option has its own pros and cons. Since that is the main subject of the article, here is the Magento price distribution for each development option.
- Professional Web Solution Provider and Software Development Company: The most expensive of the three possibilities is working with a Magento web development company. However, you receive top quality and absolute professionalism for the price that you pay. Working with seasoned Magento developers can accelerate your business growth at an unmatched level. Their superior skill set and industry experience will help turn your ideas into reality.
- Freelance Developer: It is significantly less expensive to hire a freelancer, however, you never know if you’ll receive what you pay for. Professional freelancers offer assistance after a project has been turned over. To prevent a negative experience you should, nevertheless, exercise caution while employing independent Magento developers. Working with a freelance developer has different costs depending on their reputation, skill level, and location.
- In-house Development: In-house development teams are preferred by many companies to keep up with the quick store-level enhancements and adjustments. Their biggest advantage is that they can turn projects around quickly and have precise control over the development cycle. However, having an in-house team can be very expensive in the long run. To guarantee the fulfillment of fundamental visual and user experience criteria, you will still need to enlist specialists and UX experts if you want complete control over every step of the creation of your Magento shop. Considering the different skill sets required and the cost-benefit analysis, it is recommended to opt for a professional team over in-house development.
The Cost of Setting Up
An eCommerce platform needs to be hosted in order to be operational on the internet for people to access your website, view the material, and make purchases. For this, you must look for a firm that specializes in hosting. The size of your company and even the volume of visitors to your website will determine your hosting price, just like when selecting editions. Additionally, you must choose one of three hosting servers: a dedicated server, a shared server, or a virtual private server.
The Cost of Maintenance
Magento is a very versatile system that enhances your sales potential and provides amazing website performance. However, it’s imperative that you continuously update, test, and add new features to keep the eCommerce operating efficiently and securely.
Quality assurance in software development is an essential part of any project’s success. Most modules and extensions need to be updated often to maintain the best uptime and the operations of your eCommerce website. Besides, for optimum efficiency, a business may frequently require support to start launching tens of thousands of goods. You can pick from a wide range of services available in our country to make sure your website is set up for success right away and to help you find the best maintenance solutions for your company’s needs.
Interested in Magento Development?
Leading eCommerce platforms in Bangladesh like Pickaboo have used Magento for their backend development. This article is intended to assist you in making wise budgetary decisions. It is a good idea to pick a local expert partner because of easier communication, regardless of whether you are running a small online business on a tight budget or a massive operation with no financial limits.
Thinking of building/re-designing your eCommerce platform with Magento? Get in touch with the experts for the best guidance.
Frequently Asked Questions (FAQs)
What are the best Magento extensions?
There are many Magento extensions available online – both free and premium – that can help enhance your eCommerce platform. Extensions like OneSaas and Tax Jar help you keep track of your finances, Nosto helps with content and customization, and Google Tag Manager Integration helps with reporting and analytics.
Why is hosting important for Magento eCommerce platforms?
As Magento platforms are eCommerce based, they require proper hosting in order to be fully functional. A proper eCommerce host can provide all the necessary resources to support the Magento store, as well as provide superior security – especially for the payment portals.
Why is Magento better than Shopify?
On Shopify platforms, customers are charged an additional payment fee if they do not use the Shopify Payments system. This is a huge inconvenience for customers who prefer to use other payment methods. Magento platforms do not have these kinds of restrictions, making it a more convenient option to provide to your customers. This is just one of the many advantages of Magento compared to Shopify.
Which Magento extension helps to boost sales?
Here are the top extensions to help with your Magento marketing efforts: Magento 2 Instagram Connect, AdRoll, Zoho CRM, and MageWorx SEO Suite Ultimate.