Last updated on May 23rd, 2023
A quick definition of an eCommerce platform is – A compatible software that supports the business activity of purchasing and selling via the Internet is known as an e-commerce platform.
With the boom in eCommerce websites, it has become essential to provide the best service to stay relevant in the long run. Customers must be able to use a search function to discover a branded service, a cart feature to manage their orders, and a payment option on an e-commerce platform.
E-commerce is the practice of buying and selling things online. This includes all kinds of business, such as B2B or Business – to – business, B2C or Business consumer, consumer-to-consumer or C2C, and C2B or Consumer Business. An eCommerce portal is a software that allows both the buyer and the supplier to participate and carry out their respective functions. A user should be able to browse items on an eCommerce site, add them to their basket, and afterward check out.
A business needs to choose the platform that suits its criteria the most. The selection of an e-commerce platform requires a relatively thorough search procedure. A company will consider what it can do using a specific infrastructure and how the capabilities of the technology will satisfy its requirements. One prominent factor is the gross merchandise volume (GMV) that businesses must consider.
Most well-known eCommerce platforms available today:
The ongoing debate on Shopify vs Magento has piqued the interest of users worldwide. Before diving in further, it is vital to know the basics of these two popular e-commerce platforms.
Shopify is ideal for companies just beginning to enter the market since it provides a free WordPress plugin. WooCommerce and Squarespace are examples of similar platforms.
On the other hand, a platform like Magento is more appropriate for companies that deal with huge volumes of orders daily.
Shopify vs Magento- Looking at the statistics.
The data collected by BuiltWith shows that there are already more than 182,000 active online shops using Magento. More than 3,766,000 active eCommerce shops are hosted with Shopify. Compared to Shopify stores, which make up 2.71% of the top 1 million websites worldwide, just 1.05 percent of the total Magento stores do. Compared to Shopify stores, which make up 4.44% of the top 10,000 websites worldwide, just 1.57 percent of Magento stores do.
Despite the large number of websites employing Shopify, Magento is preferred due to its open-source software, outstanding functionality, and capacity for eCommerce experience customization. This is advised that enterprise-level online retailers that want to provide customers with a more personalized buying experience are more inclined to employ it. On the other hand, Shopify uses proprietary software and provides a more functionalized platform with fewer opportunities for user customization.
Full comparison of features- Shopify vs Magento
1. Customization
Magento offers remarkable capability compared to virtually every other eCommerce platform, including Shopify. This makes it the first platform business owners are inclined towards. It also provides flexible choices for businesses willing to generate customized client experiences, particularly if they currently have a team of developers working for them on the same.
2. Shopping cart streamlining
It is a known fact that shopping cart customization can make a huge difference in ROI or Return on Investment. Magento streamlines cart options for its end users. The appropriate alternatives during a possible purchase, one of the most crucial phases of a customer’s journey, can determine whether a consumer clicks “Purchase” or not.
3. Pricing
If a user wishes to use Shopify to its full potential, they must purchase the app separately. However, in Magento’s case, almost every basic and advanced functionality a user would want as they navigate the site is present.
An open-source platform is available to everyone and is free to use, which is a significant bonus. Magento 2 offers an entirely free Community Edition and levies fees on the requirements and scope of the online store. Consequently, Magento 2 is suitable for every online store. But because Magento is self-hosted, retailers will also need to invest in a hosting package, which would run them anywhere from a dollar to two hundred dollars each month.
4. Versatility
Although a little tricky for beginners, Magento is a highly versatile platform. It takes a bit of practice and assistance from a technical expert to use Magento for optimum benefits. Whenever it comes to the program’s add-ons, Magento has established a reputation for usefulness, scalability, and flexibility.
5. Hosting options
While Magento needs you to supply as the user is responsible for hosting, installing, setting up, and organizing everything before you can start developing your store, this demands medium to high-level web development and programming expertise. On the other hand, Shopify is a hosted platform (where they host your store for you).
Related Article: Why You need to Hire Shopify Developer For eCommerce Business
Shopify vs Magento; which e-commerce platform to switch to?
Both platforms come with their own set of pros and cons. Any decision made has a ripple effect on the future of the business.
Companies frequently make errors, including selecting the incorrect platform, neglecting search engine optimization, having a subpar SEO strategy, and having a subpar product catalog. When businesses don’t do their homework, they may choose the quickest, cheapest option rather than one that would best serve their purposes.
The degree of modification used by businesses may also cause issues; either they haven’t personalized it enough and aren’t meeting their requirements, or they have customized it too much and have produced an unnecessarily complicated product.
Therefore, investing in a platform that fits the business’s requirements is essential. In the constant tug-of-war on Shopify vs Magento, it is advised to sit with a consultant and discuss your particular needs before jumping to conclusions.
To give your online business a look and feel that matches your items and preferences, Shopify and Magento provide a significant selection of themes and templates. When it comes to themes and templates, people generally go with Magento since Shopify lacks in this department.
With applications for features like loyalty programs, accountancy, and email marketing, Shopify is continually expanding. You won’t end up installing a useless app that will harm your website because Shopify takes into account its app store rather effectively.
However, Magento takes the cake here as it provides over 5000 apps and 600 + add-ons. This is primarily due to the platform’s size, open source, and community-driven nature. Both platforms offer a combination of paid and free applications and add-ons.
Related Article: 12 Best Headless eCommerce Platforms in 2022 (Pros & Cons)
Which eCommerce platform is best fit for your Business: Shopify Vs Magento?
This can be said with proof that no single e-commerce platform can satisfy all of the needs of its users. Every platform has a purpose, so before selecting one to utilize, consider the precise needs, you want it to fill. One option is to choose an extensible platform that can be customized with additional plugins and add-ons so that even if the base platform is lacking in some areas,
It is also essential to keep in mind the scale of the business. Large businesses typically aim to uphold the perception people have of their brand. They want a platform that is specifically designed for them. Additionally, they desire to increase their revenue.
Small-scale businesses assess if the customer’s shopping experience has been a positive one in the future. They do not have lofty income goals in the early stages. Additionally, they are more concerned about growing roots and creating their niche. Between vast and small stores, the objectives are dramatically different.
Large-scale businesses primarily use Magento with huge requirements. Similarly, small-scale businesses gravitate towards Shopify for its cost-effective quality. Apart from these two platforms, there are other equally competent platforms such as Squarespace, Big Commerce, Woo commerce, Wix, and BigCartel, to name a few.
The focus of the entire Internet at the moment is now on Shopify vs Magento, so it is naturally easier just to assess these two platforms. But any successful business is the result of extensive research and informed actions. Explore all the eCommerce platform options before committing to one.
Connect with iTechnolabs, a competent custom software development company specializing in front-end, back-end, and mobile app development that works with clients to help them make better decisions. Collaborate with them to build web apps, apps & games for both web and mobile platforms.
