How Magento 1 End of Life will Affect Retailers

21 Feb 2019

Mike Patel

When it comes to Magento, it is out with the old (Magento 1) and in with the 2.

With over 250,000 online stores using Magento Commerce worldwide, this is something which is bound to affect a lot of retailers and businesses, many of whom still using Magento 1, the original platform.

Magento released Magento 2 back in 2015 and gave a three-year deadline to Magento 1 sites to make changes. However, to the relief of retailers, Magento professed a few months ago that the company would continue to offer support for old platform until June 2020, giving retailers a few more months to get their affairs in order as upgrading the Magento platform is a prolonged activity.

What does End of Life (EOL) mean for Magento?

Well, EOL doesn’t signify that your Magento 1 site will no more exist on 1 July 2020. However, it means that you’ll no longer get any support, updates or security patches for your site. Your site will be live, but there would be a huge risk to your business.

The end of support also means that Magento 1 will no longer get any development. There won’t be new functionalities, new apps, and new ways to keep up with the Ecommerce trends. Basically, your site will start decaying.

And, that’s why it’s time to say goodbye to Magento 1 and upgrade to Magento 2.

How will this affect your site?

Though the fact that Magento 1 will not receive updates from June 2020 doesn’t sound too frightening now, the actual impact it will have on your site is huge. Your business will be vulnerable to all type of hacks and security breaches by not having the latest security patches.

As an Ecommerce business, you have the responsibility to safeguard the customers’ data and payment information. However, without the latest security patches, hackers can access this information and you will be in breach of data protection laws. The out-of-date site is a huge risk to both your business as well as to your customers. The only option is to Upgrade to Magento 2 to keep your business safe and running smoothly.

Magento 2 Benefits

Page loads 30% to 50% faster
Up to 39% more orders per hour
66% faster add-to-cart time than Magento 1
Better performance and user interaction
Increased sales and revenue.
Ability to manage more products than Magento 1
More choices to your customers

When should you make the move to Magento 2?

It would be wise to have a strategy in place now for your new site to be up and running before June 2020 while it works well with your internal operations and marketing plans. You must also ensure that your site transition isn’t coinciding with peak trading periods for your business like Christmas or Black Friday.

Also, consider the fact that yours is not the only company that will need to upgrade ahead of 2020. The closer it gets to the Magento 1 end-of-life date, the busier will be the Ecommerce agencies like ioVista. To secure yourself with the best possible deal and agency, you need to think about upgrading to Magento 2 as soon as possible.

And remember, it won’t be just like a regular site update; your business will have a whole new site. It’s a chance to transform the design, enhance the UX and fine-tune the content.

Summary

It is not to make you panic but to remind you that you should start preparing for the future without Magento 1. By planning your move ahead of time, you are securing your business from the vulnerabilities of Magento 1 EOL.

Talk to s Magento 2 Certified Professional at ioVista today by calling 214-699-4391 or filling in the contact form below.

Mike Patel

Mike Patel is the Founder and CEO of ioVista, a leading digital commerce agency specializing in eCommerce solutions. With a strong background in business and technology, Mike Patel has been at the forefront of driving digital transformations for businesses. He has successfully navigated the ever-changing landscape of eCommerce, helping companies leverage the power of online platforms to grow their brand, increase revenues, and optimize their digital presence. Under his leadership, ioVista has become a trusted partner with major technology companies: Adobe/Magento, Google, BigCommerce, Shopify, and Yahoo. He is dedicated to staying ahead of industry trends, adopting cutting-edge technologies, and continuously improving strategies to provide clients with a competitive edge. Mike’s commitment to excellence and client satisfaction is evident in every project ioVista undertakes.