It is said that Magento drew inspiration for its logo from Dungeons and Dragons. If you’re anything like me, you thought of Danaerys and Dracarys. While Magento is not as popular as say Shopify - which houses 22% of the eCommerce universe and most of the DTC brands - it is a force to be reckoned with much like the mythical beast it attempts to invoke. There an estimated 190,000 merchants using Magento worldwide, of which some 78,000 merchants are in the US. PipeCandy picked a sample of about 10,000 merchants (roughly 14%) and analyzed how they are distributed by Web Sales, Web Traffic and Product Categories.In this blog post, we analyze how the Magento merchants in the US are distributed by Web sales, Web Traffic and Product categories.
As is the case with eCommerce in general, the small fish greatly outnumber big fish, but just by how much is worthy of note in the case of Magento. Although Magento is used by fewer companies than Shopify, it has around 5% more merchants making >$1M in Web Sales. Considering that Magento’s contemporaries have more small entrepreneurs, this could indicate that Magento has a higher number of business savvy merchants.
About 89% of the merchants drive less than 100K visitors to their sites. This could be due to a variety of factors such as overly niche products and lack of organic reach. However, what’s noteworthy is that there are more Magento companies with over 100,000 unique visitors than there are Shopify companies. Numerically speaking, this means that Magento hosts 10% more significant businesses than Shopify does, although Shopify’s merchant-base is 6X bigger!
Apparel companies account for the lion’s share of Magento users while Florists, Business & Industrial and Food & Beverage merchants follow closely. About 34% of the merchant base belongs to categories such as Gift & Novelty, Pets & Pet Supplies, Stationery Products, etc, that aren’t significantly large enough to be called out separately. Magento seems to tell a similar story to its contemporaries in terms of web sales and product category but differs in terms of web traffic - as it has 10% more high-traffic businesses than its peers. What sets Magento apart from its peers is that a higher level of acumen is required to be a Magento merchant when compared to others, such as Shopify, which have a higher number of emerging merchants Leading brands such as Nike, Samsung, Ford, Albertsons, Omega Watches and many more have chosen Magento to help manage their eCommerce needs. Recently, Blueshift - the customer data activation platform, announced the integration of Magento stores with Blueshift. The synchronization of data directly from your Magento digital stores will make it easier than ever to deliver tailored, 1:1 customer experiences that drive user engagement, growth, and loyalty. The company announced that those merchants operating on version 1, will reach their ‘end of life’ in June 2020, and will have to upgrade to version 2 before it gets too late.
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