23 Memorable Magento Statistics in 2024

Magento has been powering thousands of online stores for over a decade now. At first glance, it may seem like it’s still thriving, but recent statistics reveal that the platform has lost its luster.

The global e-commerce landscape has evolved considerably. New competition has entered the scene, and some newcomers have grown dramatically. To learn how the platform is keeping up with e-commerce giants and market-leading e-commerce technologies, here’s a list of Magento statistics to ponder.

Editor’s Picks

• Magento is the 8th most widely used e-commerce platform worldwide.
• 0.13% of all websites on the Internet are powered by Magento.
• Magento slipped to fourth place as the most utilized e-commerce technology among the top 100k websites.
• 170,000+ websites leverage at least one of three Magento versions.
• Online storefronts built with Magento grow three times faster than shops driven by other e-commerce technologies.
• Magento sites handled a gross merchandise volume (GMV) of $155 billion annually.
• Magento 2 migration has proven to deliver a 165% return.
• There are almost 5,000 Magento extensions in the market.
• Only 26% of the merchants using Magento upgraded to Magento 2 in 2022.

Magento Market Share Stats

Magento is a widely used eCommerce platform that caters to thousands of businesses worldwide. With 2.14 billion online shoppers in 2021 and an expected increase in the number of shoppers in the future, it is a popular choice for enterprises.

Understanding Magento’s market share gives insights into its progress. In 2023, 0.13% of all websites on the Internet use Magento. In comparison, its biggest competitors, WooCommerce and Shopify, held 1.57% and 0.92%, respectively.

Magento owes its survival to its dedicated user base, who appreciate its top-notch extensions, tools, and reliable customer support. However, despite its loyal customers, Magento’s market performance declined in 2023 due to fierce competition. 

The following statistics detail the company’s slipping foothold in the e-commerce industry: 

1. Magento ranks 8th among the most used e-commerce platforms globally.

(SimilarTech, BuiltWith)

While there are 12 to 14 million e-commerce stores worldwide, a decreasing number of them are choosing to use Magento as their platform of choice.

Magento was the fourth most used e-commerce platform in 2021, but it dropped to eighth place by 2023. Unfortunately for the company, the gap between Magento and its close competitor, Squarespace Commerce, widened further to over 293,000 websites.

That said, higher-ranked websites still favor Magento. Additionally, the platform is in a solid fourth spot when the sample size is limited to the top 1 million sites.

The company’s adoption rates among 10k, 100k, and 1 million sites haven’t seen sharp improvement over the past years, mainly because of the increased competition. However, Magento 1 and Magento 2 usage statistics and involved sites outside the 1M club suggest that more new businesses have tried the platform.

2. Magento fell to fourth place among the most popular ecommerce platforms for the top 100k sites. 

In October 2023, 0.91% of the top 100k websites ran on Magento. That month, Shopify beat Magento, utilized by 2.51% of the top 100k websites. OpenCart took second place with 1.70%, and Salesforce Commerce Cloud dropped to third with 0.93%. 

The situation was worse when it came to the elite 10k by traffic. Magento was propelled to the back of the line in 8th place, while Shopify remained the leading platform.

3. Magento supports 0.13% of all sites on the internet.

(SimilarTech, Store Leads)

More than one-fourth of all websites designed using Magento belong to three industry verticals.

As of 2023, the Magento usage statistics revealed that 18.7% of the platform’s merchants belonged to domains that sell home and garden products.

The other two top categories with the highest Magento usage coverage are Apparel (15.4%) and Business and Industrial products (8.9%).

Magento Statistics About Sales

While Magento faces market share challenges, it remains a profitable platform for itself and its users. One of its key selling points is its emphasis on SEO, with unique features such as canonical URLs and formidable content management functions. Additionally, Magento’s navigation links and page titles are independent, allowing further customization.

To understand how much Magento brings to the table, here are some facts about the platform’s sales performance:

4. Magento Commerce earned $47.4 million in revenue in 2023.

(LATKA SaaS Database)

Despite its decreased popularity, Magento stays in the game, hitting $47.7 million in 2023. The platform managed to power through, earning enough to keep itself relevant. 

Analysts believe this success is mainly due to Adobe’s acquisition. The tech giant gave Magento a much-needed boost in marketing and innovation.

5. Magento statistics show that the online storefronts powered by the platform handle $155 billion GMV annually.

(Magento, Statista, Marketplace Pulse, W3Techs)

To underscore this impressive number, the figure is $6 billion greater than the total GMV figures reported by eBay, Walmart, and Wish in the United States in 2019.

Many merchants who use Shopify view it as a fast-growing e-commerce platform with global appeal. However, it’s worth noting that as of the first two quarters of 2023, Shopify’s Gross Merchandise Volume (GMV) has only reached $104.6 billion— significantly smaller than Magento’s.

6. Magento-driven online storefronts outgrow their non-Magento counterparts three times faster.

(Elogic, Magento)

Magento presents opportunities for growth and customization as a business grows. Unparalleled flexibility and optimal scalability are only some of the favorite qualities prudent and fastidious B2C merchants like about the platform. The tech can even support about 500,000 products without requiring a merchant to upgrade to the paid version.

7. Magento can process thousands of transactions per hour.

(Elogic, Magento)

Quality is the name of the game, but struggling with quantity will stunt your business’ growth. That said, merchants that deal with high-volume sales regularly can benefit significantly from Magento. 

Being able to process thousands of sales over a short period is a necessity for every budding entrepreneur. Thanks to Magento’s robust system, users can drive down their total cost of ownership by 50% on average.

Magento Merchant Statistics

Thousands of global eCommerce merchants leverage the feature-rich Magento. Because of its scalability and vast customization options, huge brands like Nestle Gerber, Rite-Aid, and 7-Eleven continue to use the platform. 

Below are statistics that describe Magento’s merchants:

8. As of October 2023, 13.9% of Magento stores are in the United States.

(Similar Tech)

While a majority of Magento stores are based in the US, 6.7% of them are in the United Kingdom, 6.1% are in Germany, and 5.4% are in the Netherlands. Other top countries with Magento-powered online stores are: 

• Italy
• Brazil
• Spain
• Australia
• France

9. Harborfreight.com is the leading website built using Magento.

(SimilarTech)

Harbor Freight is a popular US power tool retailer headquartered in Calabasas, California. According to Magento’s 2023 visitor statistics, the company’s online shop attracts 31.1 million visits monthly. 

10. With 25.9 million monthly visits, Sinsay.com is the second most popular Magento-powered website.

(SimilarTech)

Sinsay is a clothing retail company that sells fashion for women, men, and kids. Interestingly, Sinsay is not a US-based company. It’s from Poland, yet it’s the second most visited website that’s powered by an American e-commerce platform.

11. Harborfreight.com is the second most visited US-based website in the home and garden category. 

(SimilarWeb)

As of October 2023, Harbor Freight is the second most popular home and garden website in the US. Globally, it is among the top 1,300.

12. Magento is associated with 79,058 unique domains.

(SimilarTech)

Among all of the Magento growth statistics, this one can accurately describe the number of businesses that use the platform. After all, a single domain can produce several websites.

Even though Magento’s figure is nowhere near the 1,054,553 unique domains tied to WooCommerce, it is still impressive. The fact that many leading brands use Magento adds some weight to its user base.

13. Magento 2 users outnumber their Magento 1 counterparts by 17,797.

(SimilarTech, Magento, Sana Commerce)

In 2021, there used to be 63,000 more websites powered by Magento 1 compared to Magento 2, but the tides have changed two years later.

As of 2023, 52,692 sites and 46,253 unique domains use Magento 2. Meanwhile, only 34,895 websites and 34,560 unique domains are involved with Magento 1.

Since the platform’s first iteration has finally ridden into the sunset, maintaining the old platform has become less viable. Magento 1 users have finally accepted the latest innovations and migrated to the latest version.

Migration to Magento 2 Statistics

It’s no secret that Magento 2 is the superior version of the platform. However, many existing Magento users have been hesitant to make the switch.

Upgrading to Magento 2 boosts a store’s performance and scalability. Magento 2 can endure high-volume orders so that users can cater to more customers simultaneously. The platform is also more mobile-friendly, helping expand your store’s reach.

Unfortunately, despite its long line of advantages, users’ migration to Magento 2 is slow. This is mainly due to concerns over the cost and time required for the upgrade, which can sometimes outweigh the advantages of switching from the old platform.

To better understand the benefits of upgrading to Magento 2, here are some helpful Magento statistics about the migration process.

14. In 2022, only 26% of all Magento sites switched to Magento 2.

(SimilarTech, Magento, Sana Commerce)

The adoption of Magento 2 was bound to go up more quickly after June 30, 2020. Since that day, the platform no longer supports its legacy e-commerce software— both Magento Open Source 1 and Magento Commerce 1.

Migration can be complicated. Regardless of the merits of Magento 1 vs Magento 2, migration can cause integration issues and SEO problems, among others. However, if Magento 1 users don’t migrate, they’d be more susceptible to cyberattacks.

15. A Magento Commerce 2 switchover promises a return on investment of 165%.

(Magento)

A report titled The Business Value of Migrating to Magento Commerce 2 stated that the payback period could be as fast as 8.1 months. Also, merchants could see a 29% increase in mobile revenue as well as a 5% rise in average order value.

The data on the report was based on actual Magento user statistics. The report explored the effects of Magento Commerce 2 migration on the enterprises of 19 actual customers with unique business models and from various industries.

16. Loake Shoemakers decreased their bounce rate by 45%.

(Magento)

After making the sacrifices that come with site migration, Loake Shoemakers had a significant decrease in their bounce rate. With faster load speeds, a more responsive theme, and a more seamless two-step checkout procedure, the user experience of Loake Shoemakers’ online store has made visitors stay longer.

17. Cox & Cox’s mobile conversions climbed by 20%.

(Magento, Statista)

After migrating to Magento 2, the online home-improvement emporium generated 44% more revenue. This sales leap can be attributed to Magento 2’s mobile phone shopping functionality, which enhanced Cox & Cox’s mobile-friendliness. This was particularly important since a 2019 survey found that 43% of British consumers preferred to use their phones while shopping.

18. Soak&Sleep’s average order value climbed 20%.

(Magento)

In March 2020, 88.05% of online shopping orders were never completed. A myriad of factors could affect transactions. Poor site speed is notorious for causing customer frustration and abandoning cards. Migrating to Magento 2 helped alleviate this, which improved Soak&Sleep’s load time and increased sales.

19. A Little Lovely Company grew by 133%.

(Magento)

The impact of the Magento Commerce 2 migration varies from business to business. Not everyone will be like A Little Lovely Company. Less established companies are likely to grow more quickly, while the top Magento sites probably have to wait longer to achieve the same growth rate.

Magento offers an obligation-free personalized ROI evaluation for existing Magento 1 users to avoid unrealistic expectations. This way, the company’s evaluators could more accurately determine potential savings and revenue growth estimates.

Encouraging Statistics About Magento’s Industry Ties

Magento has a loyal community that spans across the globe. It’s also linked to several other services and technologies. To have a more detailed view of Magento’s ecosystem, here’s what you should know:

20. Magento has forged relationships with more than 1,150 technology and solution partners.

(Magento)

Out of 80+ countries and territories, the vast majority of Magento partners come from five nations: the US (413), India (241), the UK (129), Germany (86), and the Netherlands (79).

2020 Magento statistics demonstrate that the platform’s directory of partners decreased by at least 150. One of the reasons for this matter is Magento 1’s impending end.

21. 360,000 members make up Magento Forums in 2022.

(Magento, Elogic)

Magento Open Source may not come with direct support. Still, with the company’s vast network of 315,000 experienced developers, 8,000 certified implementation experts, and 5,900 competent contributors, help is often just a few clicks away.

Despite the challenges of utilizing free software and receiving limited technical support when building and operating an online store, the Magento statistics above prove that you will have a community to rely on.

22. Magento has almost 5,000 extensions and themes on its marketplace.

(Magento, Sana Commerce, BuiltWith)

This figure no longer includes Magento 1 extensions. Magento removed them from the marketplace a week after Magento 2’s predecessor was EOL’d, and many of their partners have adapted accordingly.

A good case regarding this is ClearSale. It launched an extension for Magento 2 to express its dedication to the ecosystem’s latest standards and ensured seamless integration of its tech into the platform.

23. Convert Digital became an Adobe Magento Gold partner after building at least 10 online storefronts on Magento Commerce.

(Mumbrella)

Convert Digital is a prolific Magento 2 site builder. In just the first six months of 2020, Convert Digital has successfully launched digital shops for trusted brands such as: 

• KeepCup
• Esmi Skin Minerals
• Universal Store
• Adornmonde
• Fashion BNKR
• Stussy
• Carhartt WIP.

Their seasoned developers have gained intimate knowledge of Magento 2 since 2015, allowing them to provide top-notch services. The Adobe Magento Gold is a highly regarded designation that signifies excellence in website development. It’s particularly highly coveted in the Asia-Pacific region.

The Bottom Line

Popularity can be an ambiguous and deceiving term. Unlike the most used e-commerce platforms, Magento hasn’t got a lead in any industry vertical or country. Its usage rate is also plummeting.

By focusing on the appropriate Magento statistics, it becomes clear that the software’s true value is in its quality, not the quantity of users. With Magento, you can have vital tools competent developers or a credentialed e-commerce development agency use to make your dream online storefront a reality.

FAQs on Magento Statistics

How many people use Magento?

Around 250,000 people use Magento to oversee their online stores. Magento is one of the world’s top ten most popular e-commerce platforms.

What companies use Magento?

Some famous Magento companies include Helly Hansen, Ford, Harbor Freight, Liverpool, Nestle Gerber, Rite-Aid, Landrover, 7-Eleven, and Christian Louboutin.

Who Uses Magento 2?

Magento 2 works for businesses in practically all domains, but most users are retailers and wholesalers. The platform powers companies in computer software development, information and technology, and fashion. Companies like QA, Creative Mettle, Fidelitas Development, and Fat Media have adopted it.

Sources:

• SimilarTech
• SimilarTech
• BigCommerce
• BigCommerce
• BuiltWith
• BuiltWith
• Core DNA
• Digital Commerce 360
• Digital Commerce 360
• Dollar General
• Elogic
• Harbor Freight Tools
• Magento
• Magento
• Magento
• Magento
• Magento
• Marketplace Pulse
• Mumbrella
• Sana Commerce
• SimilarTech
• SimilarTech
• SimilarTech
• SimilarTech
• SimilarTech
• SimilarWeb
• Statista
• Statista
• W3Techs
• W3Techs
• BuiltWith
• Store Leads