The end is nigh for Magento 1!
Just because Magento is ending their support for M1 in June of 2020 doesn’t mean there’s reason to panic. Quite the opposite. This shift provides B2B Magento 1 merchants with an opportunity to upgrade their current platform to one that more meets the demands of modern B2B stakeholders.
Since M1’s public launch in 2007, the digital B2B marketplace has changed dramatically. B2B customers now more closely resemble B2C customers. Demand Gen’s 2018 survey shows that 93% of B2B customers prefer to purchase online, directly from vendors (compared with 85% of B2C customers). And 45% of B2B buyers report an increase in the amount of online research they complete before making a purchase.
The B2B landscape has evolved and the end of life for Magento 1 support provides an excellent opportunity to upgrade your B2B eCommerce site to meet the new demands of the marketplace and keep pace with your competitors. In this blog you’ll learn the 3 reasons why you need to migrate off of Magento 1.
New B2B Features
Magento 2 promises to maintain the same features that made Magento 1 so popular. There will still be an Open Source (Community) version of M2 which will allow for custom extensions to be added to native features. The Magento Commerce (Enterprise – paid/licensed) edition will continue on as well. But it is the M2 Commerce platform that will include a number of new features built directly into the architecture. These new features include:
In any B2B online store there may be many individuals who need to have access to an individual account. Supervisors, buyers, accountants, and managers may all require individual access. With Magento 2, store administrators will have the ability to moderate accessibility to the account. Buyers will also have the ability to assign full access or limit the access of their team members.
As previously mentioned, B2B customers are more and more likely to arrive at your website having already engaged in and in many cases completed their research and ready to complete an order. For these users, Magento 2 features a new SKU quick order feature, which allows users to add an item directly to their cart by entering the SKU numbers rather than having to navigate the site manually to locate the item and then add it to their cart. This feature extends beyond an individual item as well. M2 allows users to upload a file containing all the matching SKU’s and their desired quantity directly to the platform. Thus, improving the speed and quality of the purchasing experience for those visitors with a long list of items.
Quotes & Price Negotiation
When it comes to dollar amount and in actual product volume, B2B orders are quite often much larger than B2C orders. This dynamic increases the likelihood that your business may need to negotiate or provide terms with a custom quote. Magento 2 will allow for customers to request a quote from you, directly from the product page while also allowing the customer to submit their own price request. The administrator on the page then has the opportunity to refuse, accept, or continue negotiating the offer. If the offer is accepted, the customer then has the option to complete the purchase at the negotiated price directly from their cart, just like a normal purchase.
The wishlist feature on Magento 1 is pretty standard. It allows for customers to move items back and forth between their wishlist and cart, while removing the item from the wishlist upon completing a purchase. With the new Requisition List in Magento 2, customers can set up lists of favorite items and recurring products that will be continually purchased. This streamlines the purchasing process for renewables and other frequently ordered items making it easier and faster.
Magento 2, both the Community and Enterprise versions, will allow for the management of three separate databases; products, orders, and checkout. This is being done to prevent data overload and reduce incidences of system failure. The result being increased data security, speed, and scalability. By separating these three databases, Magento 2 will give B2B visitors to your website a smoother, faster, and more accurate experience as well as improve the ability your certified Magento developer has to make refinements to the platform.
The result of many of the aforementioned enhancements will be increased speed. M2 will optimize your webpages for a faster delivery with accelerated server response times, which will ultimately result in an increase in loading time between 30% and 50%. M2 users can also expect to see a 38% decrease in checkout time compared with M1. These improvements will also be extended to mobile as well with Magento 2’s responsive design structure. Magento 2 has the ability to handle 10 million views per hour, which is 50x the capacity of Magento 1. Magento 2 also can also handle more than 90,000 orders per hour, more than double the ability of Magento 1. With these kinds of improvements it’s easy to see why an upgrade to Magento 2 is better completed sooner rather than later.
M1 is going bye-bye and all you can do is prepare
June 2020 may seem like a long way off but it will be here before you know it. Upgrading your site to M2 or migrating to another platform will take a great deal of time to plan, build, implement, execute, test, and launch. The experts at Magento estimate that a simple website migration will take between 5 and 7 months and our experience reflects and supports that timeline Any site with customizations that needs migrating could take up to 9 months. And any migration with integrations could easily take more than 10 months to complete. Keep in mind that there will also be tens of thousands of business owners in a similar need for migration before support for M1 falls off in June of 2020. The sooner you can get started on your migration or conversion, the better. Think of your M2 move like you would a semester project in college. You feel like you have all the time in the world to complete it, but why wait until the weekend before finals?
Simply put, the benefits of both the Enterprise and Community versions of M2 far outweigh the costs of migrating. Magento 2 is mobile-friendly, more scalable, boasts an improved checkout experience, and is easier to upgrade. If you’re ready to upgrade your M1 platform or just want to learn more about the process, speak to one of the certified Magento developers here at InteractOne at 513-469-3345 or submit a form here for a consultation.
4 B2B Features for Merchants Moving to Magento 2