Get Insight into Some of the Crucial Magento Statistics for 2024

Magento is undoubtedly one of the most lucrative eCommerce platforms in the industry, with impeccable features and functionalities. Since the start, Magento has been driving impeccable force in the eCommerce arena. 

Following that, the scope of implementing Magento extension development for enhancing the existing features of the platform has further contributed to helping budding entrepreneurs excel in the industry. 

In 2021, Magento rebranded itself as Adobe Commerce, and this was much more than just a name change. This rebranding approach also brought with it the integration of marketing, product and sales teams into the business unit of Adobe Experience Cloud. With this, the proficiency of Magento experienced new innovation levels. 

Adobe’s supremacy in the digital world was aligned with the eCommerce prowess of Magento to give entrepreneurs added efficacy to choose it as their preferred platform. To help you learn more about the efficacy of Magento as a preferred eCommerce platform, let’s unveil some of the crucial statistics associated with it for 2024. 

What are Some of the General Magento Statistics to Count On for 2024?

Before you go ahead and hire a Magento 2 developer to create your store, it is time you take note of some of the general statistics associated with it for the forthcoming year, which include:

1. Ranked amongst the Top 10 Platforms 

As far as eCommerce platforms are concerned, Magento holds a very prominent image and secures a coveted position among the ten top platforms in the industry. As it provides users with outstanding features and enhanced capabilities, it is undoubtedly accountable as the powerhouse in the arena of online retail. 

It has been recognised by several entrepreneurs and established eCommerce businesses as one of the leading platforms. People have been adopting and migrating to Magento development services for establishing their online stores, as they count on it as a reliable solution. 

Considering the scalability, flexibility and extensive customisations of the Magento platform, its popularity is well-justified. 

2. Enterprises Leveraging Magento will achieve a 3x Higher Growth Rate

Magento, in all this time, has proved itself as not just a robust eCommerce platform with diverse features, but an evident growth catalyst. As per recent statistics, it has been revealed that stores running on Magento have acquired an average growth that’s 3x higher than the stores across other platforms. 

Immense adaptability is the reason why Magento has been helping eCommerce businesses experience immense growth. From budding startups to established online businesses, Magento provides them all with customisable and scalable solutions that are tailored to their respective business needs. 

With the user-friendly UI, you will experience empowerment for creating a smooth functioning store, and it will enable the customers to avail a good shopping experience. 

3. Top Internet Retailers list has 202 Magento Stores in It

When you are in the world of eCommerce, the numbers do define utmost success. Magento has embraced this opportunity and marked itself as a winning platform for running an online business. The List of Top 1000 Internet Retailers has been assessed to find 202 companies to be running on the Magento platform. 

Thus, it solidifies the platform’s position as a powerhouse in this digital landscape. To give you a better perspective, you must know that 20% of the 1000 internet retailers from Canada and the United States are on Magento and are using it as their preferred CMS. With this statistic, you will get a better conclusion on the effectiveness and popularity of Magento. 

The unique features and scope to integrate a variety of Magento 2 extensions are collectively giving this platform a reputation boost. Irrespective of whether you are a small business with minimal requirements or an established eCommerce store owner with bigger milestones, Magento can cater to them all. 

4. Magento Platform Records More than 5000 Downloads Every Day

The big thing that contributes to Magento’s popularity quotient is the download statistics of it on a daily basis. As per the reports, Magento receives 5000 download requests on a daily basis, which is a whopping figure that’s enough to show the significance of this platform in the digital or eCommerce landscape. 

This statistic proves the efficacy of Magento’s features, user-friendly interface and flexibility, which entices business owners to count on this platform above others. The immense download rate of Magento doesn’t just tell people about its popularity but also reveals a deeper narrative about how influencing the platform is for entrepreneurs. 

The popularity scale of Magento exceeds the geographical boundaries and resonates well with organisations, developers and entrepreneurs from all across the globe. Moreover, Magento is also ideal for eCommerce businesses from all industries, may it be fashion, electronics, healthcare or others. 

5. 0.7% of All Websites Make Use of Magento

Around the globe, around 0.7% of all websites make use of Magento as their preferred platform. As per the records, there are currently around 1.8 billion websites across the internet. And calculating 0.7% against it, gives you the count of 1,260,000 websites that run on Magento. 

To further express the supremacy of Magento, you must know that not all of the websites from this 1.8 billion websites are eCommerce-centric. In that consideration, 0.7% is a whopping figure for this platform to have attained. If you filter out only the eCommerce sites over the internet, you can consider there are around 12 to 24 million such sites. 

With that figure in mind, you can relate that Magento powers around 5 to 10% of all eCommerce sites over the internet. 

6. Lifestyle is the Most Common Industry that Leverages the Magento Platform

Among all industries that need eCommerce stores, the lifestyle sector has found Magento as their reliable ally. Irrespective of whether you are some fashion retailer, a wellness brand or are running an online boutique, Magento offers you a plethora of tools to help you tailor your store operations. 

The lifestyle industry holds a popularity rating of 8.95% over Magento, which is the highest when compared to other industries such as Home & Garden with 6.4% and eCommerce & Shopping with 6.15%. This expresses that the lifestyle industry businesses have found Magento as their priority preference for running their stores. 

Specific industries boom over Magento because you have the liberty to choose from an array of Magento 2 modules or extensions. This way, you will be able to enhance the features or functionalities of your store to align with the industry-wise eCommerce operations. 

The flexibility of the platform has enabled businesses from respective industries, including lifestyle, to mould their digital presence and make the platform adhere to their respective needs. 

7. LG is the Top Magento Website, with More than 31.9 Million Visits Per Month

LG, one of the major key players in the consumer electronics sector, runs its website on Magento. The LG website marks a count of around 31.9 million visitors every month, which indicates a thriving presence over the internet. This expresses how efficient Magento’s capabilities are in the field of eCommerce and how it can help you scale the engagement rate and traffic flow to your store. 

These large traffic numbers recorded by LG also express the scalability quotient of Magento to be able to handle such large numbers. It means, irrespective of whether you are a new startup or a thriving established eCommerce business, your traffic numbers will be easily accommodated without losing out on the performance or responsiveness of the store. 

You can always seek Magento extension development to make sure you bring out the best features for your business and integrate them into your store. This way, you can always scale the performance proficiency of the Magento platform for your eCommerce business and make it grow along with your visionary goals. 

8. Office Magento Extension Marketplace Has More than 3700 Options

Talking about extensions, which is one of the winning capabilities of Magento, you must know that the official Magento marketplace consists of more than 3700 options for you to count on. These extensions are meant to enhance different functionalities and features for your Magento store. 

May it be about managing inventory, adding new payment methods, listing products, or others, there is an extension available for all that you need. Beyond the official marketplace, there are third-party Magento extension developers who have their own marketplaces and have created custom modules for the store owners to count on. 

Not only that, but the store owners can also put up a request for custom Magento extension development, which would help them meet their specific expectations. 

9. More than 13,000 Agencies or Companies Offer Services Related to Magento Platform

Magento is considered a popular platform, and all the statistics above have already made it evident. Referring to this popularity, there are more than 13,000 companies or agencies around the world that offer different types of solutions or services associated with Magento. 

May it be store development, theme development, store management or others, there are several companies that are proficiently offering this service convenience to Magento store owners. This statistic expresses the global acceptance of Magento and people’s faith in its potential. 

Bottom Line

These Magento statistics, which relate to its continued dominance in 2024, might have enlightened you with its enormous capabilities to help transform your eCommerce operations. So, if you have plans to hire a Magento 2 developer to get started with your online store and operations, you are on the right track. 

Magento transcends all the performance boundaries associated with an eCommerce solution. With the successful integration of technology and customer-centric features, this platform has led the online stores boom in this digital landscape. Thus, it is one of the best platforms for you to start your online store.