{"id":232,"date":"2023-09-01T17:35:53","date_gmt":"2023-09-01T17:35:53","guid":{"rendered":"https:\/\/savemycent.com\/?p=232"},"modified":"2024-02-16T14:33:08","modified_gmt":"2024-02-16T14:33:08","slug":"magento-statistics","status":"publish","type":"post","link":"https:\/\/savemycent.com\/magento-statistics\/","title":{"rendered":"23 Memorable Magento Statistics in 2024"},"content":{"rendered":"\n
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.<\/p>\n\n\n\n
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\u2019s a list of Magento statistics to ponder.<\/p>\n\n\n\n
Magento is a widely used eCommerce platform that caters to thousands of businesses worldwide. With 2.14 billion online shoppers in 2021<\/a> and an expected increase in the number of shoppers in the future, it is a popular choice for enterprises.<\/p>\n\n\n\n Understanding Magento\u2019s 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.<\/p>\n\n\n\n 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. <\/p>\n\n\n\n The following statistics detail the company\u2019s slipping foothold in the e-commerce industry: <\/p>\n\n\n\n (SimilarTech, BuiltWith)<\/p>\n\n\n\n While there are 12 to 14 million e-commerce stores worldwide<\/a>, a decreasing number of them are choosing to use Magento as their platform of choice.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n The company\u2019s adoption rates among 10k, 100k, and 1 million sites haven\u2019t 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.<\/p>\n\n\n\n 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%. <\/p>\n\n\n\n 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.<\/p>\n\n\n\n (SimilarTech, Store Leads)<\/p>\n\n\n\n More than one-fourth of all websites designed using Magento belong to three industry verticals.<\/p>\n\n\n\n As of 2023, the Magento usage statistics revealed that 18.7% of the platform\u2019s merchants belonged to domains that sell home and garden products.<\/p>\n\n\n\n The other two top categories with the highest Magento usage coverage are Apparel<\/em> (15.4%) and Business and Industrial products<\/em> (8.9%).<\/p>\n\n\n\n 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.<\/p>\n\n\n\n To understand how much Magento brings to the table, here are some facts about the platform\u2019s sales performance:<\/p>\n\n\n\n (LATKA SaaS Database)<\/p>\n\n\n\n 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. <\/p>\n\n\n\n Analysts believe this success is mainly due to Adobe’s acquisition. The tech giant gave Magento a much-needed boost in marketing and innovation.<\/p>\n\n\n\n1. Magento ranks 8th among the most used e-commerce platforms globally.<\/strong><\/h4>\n\n\n\n
2. Magento fell to fourth place among the most popular ecommerce platforms for the top 100k sites. <\/strong><\/h4>\n\n\n\n
3. Magento supports 0.13% of all sites on the internet.<\/strong><\/h4>\n\n\n\n
Magento Statistics About Sales<\/strong><\/h3>\n\n\n\n
4. Magento Commerce earned $47.4 million in revenue in 2023.<\/strong><\/h4>\n\n\n\n