In the age of e-commerce, there are a host of e-commerce platforms springing up to meet the need. That rivalry poses a threat to Magento and its popularity. It was reported that Magento had lost its second rank to its opponent Shopify due to security concerns and human resources.
The questions are: Can Magento get out of the rut and make a comeback to stand out again in the e-commerce world. Will there be any brilliant updates in Magento security in the coming years? Can it address Vendo’s concerns to fight with other e-commerce platforms like Shopify?
And this blog will discuss and answer all the questions about the future of Magento in further detail.
Table of Contents
I. A Leap Has Been Made
Despite all the challenges facing Magento nowadays, it keeps growing in popularity and attracts web developers to choose it over e-commerce platforms thanks to its outstanding advantages. It’s time to discover the future of Magento in 2024.
1.1. Ease Of Using And Customization
Magento has underlying features that help the customers adapt in record time. Moreover, this platform also provides its users with several tools for customization like storefront customization tools as Magento blank theme, Magento UI component, admin pattern library. All those tools allow the users to create designs suitable for their demands without confronting any difficulties during the process.
1.2. High Flexibility
Because Magento is open-source, its customers can freely customize their websites. When using Magento, they can change any things they want to meet their needs and preferences. This high flexibility will continue and mark a revolution for the future of Magento.
1.3. High Performance
Magento is invincible regarding the page load time, dynamic or static operation, or query processing time because it makes the most out of optimized databases and modern technologies to meet the requirement.
1.4. SEO Friendly
With many SEO-friendly built-in features as SEO-friendly URLs, Google Site Map, Meta-information for products, Magento has become more powerful than ever and satisfied its customers’ needs.
1.5. User Friendly
In this day and age, technology is developing at an incredible speed, resulting in the appearance of modern inventions like smartphones, state-of-the-art platforms. Correspondingly, besides the benefits provided, there is a difficulty in using and adapting some sophisticated technologies. As a result, one reason that encourages users to opt for your website is the design. Whether it is friendly or not will determine the decision of customers to stay or leave.
In terms of user-friendliness, Magento confidently claims that it is 100% user-friendly. That means your store is responsive on many kinds of devices like tablets, mobiles, or computers.
1.6. Easy 3rd-party Integration
When it comes to 3rd-party integration, Magento will come as the first choice owing to the massive third-party extension selection available for implementation. Many services are on request for the customers to utilize as payment gateways, performance boosters, shipping options, database applications, tracking, social sharing, and many more.
1.7. Strengthened Security
Security has always been a big problem for all the platforms in the world. After all the notoriety about fragile security Magento earned some years ago, it has now strengthened the security to assure its users about the security concern. Magento 2.1 permits users to apply the mask to limit access. There is also an outstanding feature X-Frame-Options HTTP request header, which protects your store from clickjacking attacks.
The inclusion of new features has upgraded security radically. According to Foregenix, 90% of the stores operating through Magento 1 in Sydney are susceptible to cyber-attacks. Nonetheless, the figure drops sharply in Magento 2. Only 35% of the websites that run through the brand-new version are under threat of being hacked.
In the age of technology and advancement, e-commerce platforms are by no means safe from cyber-attackers. Despite that fact, the developers of Magento are really serious-minded and persistent in fixing all the security issues through regular updates and patches. They will definitely go on to do it in the years to come. So, there will be a remarkable improvement in the area of security for the future of Magento.
At this time, users can count on Magento regarding website security because its developing crew has put every effort into pushing the platform into a safe zone of reliability.
1.8. Increased Market Share
As mentioned above, Magento has lost its position as the 2nd biggest e-commerce platform to Shopify. However, its overall market share does not drop at all. In 2018, Magento saw solid growth in market share, increasing from 9% to 13%. What lies behind that unbelievable enhancement is the acquisition of Adobe. It has already brought about several game-changing products, including the PWA Studio and the developer tool kit.
Additionally, this giant corporation also provides a suite of products, including Content Management, Data Management, and analytics. Its experience cloud, which, in the long run, gives Magento a massive boost to compete vigorously with not only Shopify but also the other popular e-commerce platforms on the market.
II. What To Expect About The Future of Magento
Having faced many challenges from other rivals, Magento not only shows no fear of those difficulties but also seizes the opportunity to reform and innovate its platform further and faster. With every effort put into the reformation and innovation process, Magento has won the interest of its customers. Let’s find out what is new about the future of Magento.
2.1. Progressive Web App (PWA)
The integration with Adobe experience cloud has opened a new way for Magento to reach a new level in the future. The first development of its is the Progressive web app applying state-of-the-art technologies and design patterns to enable its customers to experience a secure, fast, responsive, and cross-browser compatible web app. PWA websites, moreover, are capable of working both online and offline like a native app on mobile, which offers an app-like experience for the retailers to grow their online stores.
After this revolution, the future of Magento becomes much better due to the significant revenue, which is expected to increase more in the incoming years.
2.2. Artificial Intelligence (AI)
AI has not just stopped in some fiction movies, but it gets into life and is being applied to lots of development in the world, and Magento is no exception.
2.2.1. Target Market Lead
Besides the excellent built-in features, Magento has powered its platform by employing AI to allow its users to analyze customer behavior by analyzing dwell times of them and collecting information on user activity, then draw insights of customers to create customized product recommendations or discounts.
2.2.2. Get Personal With Chatbot
In addition to the behavioral analysis. Magento also creates Chatbot to deal with the problem of response to their customers. Every customer has an expectation to get replied immediately, so a chatbot is definitely the key solution to enhancing customer experience and avoiding losing out any potential customers just because of a late response.
2.2.3. Smart Search
Search bars usually bank on the right keywords and spellings to bring up search results, and only a correct match yields relevant results.
To increase the chances of giving relevant results living up to customers’ expectations, Magento has employed an AI search that works on predictive capability and context rather than only the exact keywords.
2.3. Advanced Product Information Management (PIM)
Maintaining the stock-keeping unit list is far too difficult to be done manually because the further your company grows, the more unmanageable the list of prices, labels, and product descriptions are. Besides that, the thinking of organizing product information by hand also freaks some retailers out because of its boredom, time consumption, and expense.
Hence, PIM, which is the core system ensuring the future of Magento, is the best solution to resolving all the concerns about monitoring product information that the users get.
PIM solution lets users store, enrich, and manage complex product information. This tool concentrates on collecting product data, updating and monitoring precise information throughout various sales and marketing channels.
PIM systems perfectly integrate with almost all e-commerce platforms, CRM systems, suppliers, customers, business intelligence, and ERP software to ensure that the latest product information is available across your organization.
If you have an e-commerce business whose product catalog, marketing messaging are constantly varying, it will be best to go for the PIM systems of Magento.
III. Is It Worth Learning In 2024 For IT Students?
There is a deluge of questions about whether it is worth learning Magento, and some even doubt that the time spent to master Magento is such a waste. Contrary to all of the doubts raised, Magento has proved itself to be worth the time for any IT students who want to develop their skills and further their career in such a lucrative area as e-commerce platform development.
Magento developments are currently in great demand and typically the position that gets a high premium when compared to others. Among many e-commerce platforms, Magento would be considered one of the best versions with all the outstanding features and capabilities that developers can benefit from such as powerful third-party integration, SEO, high flexibility, and customizable development. In addition to that, it is an open-source platform with plugins and customizable themes available.
Though Magento may be hard to learn and will definitely take you a long time to master, it is still worth the time investment in learning Magento development for IT students to further their careers due to all the opportunities it offers to IT students who study it. However, before deciding to master Magento, IT students should acquire a fundamental understanding of this e-commerce platform to avoid any difficulties.
IV. Conclusion
Like every other platform, Magento has also experienced all the ups and downs. Nonetheless, it never stops changing for the better. This company always longs to provide users with the best version. Despite all the challenges and threats from other cutthroat software companies like Shopify, Magento can still prove its dramatic development and strong future with all the updates and patches which improve the security. So, it is undeniable that Magento stands a chance of regaining all its lost customers and reaching other prospective users in 2023. All we can do now is waiting for the bounceback of Magento on the market of e-commerce platforms.
Thank you!
