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Magento 1 is nearing its end of life. It has been officially announced that from June 30th, Magento 1 will no longer be supported by the community.
This means there will be no security patches, upgrades or support and eCommerce stores operating on Magneto 1 hardly have a month to migrate.
Your eCommerce store is as good as the technology that powers it. Using an outdated tech stack results in poor customer experiences, security risks and lack of support.
Not making the shift to Magento 2 will result in security breaches and non compliance with Payment Card Industry Data Security Standards. For an eCommerce store it is mission-critical to comply with PCI DSS norms.
To prevent your site from becoming vulnerable to hackers and offer a secure buying experience for customers it is essential to upgrade.
The annual licensing fee for Magento Commerce Enterprise Edition starts at $22,000. The hosted version of the Magento 2 Enterprise Edition (Magento Commerce Cloud) comes with a price tag that ranges from $40,000 to $1,90000 a year.
The pricing model of Magento is based on revenue tiers.
Here’s a quick breakdown of it.
*Magento has stated that the combined cost of Enterprise solutions licensing fee + hosting can be negotiated.
Aside from paying license fees eCommerce sites need to hire certified developers to migrate data, third party extensions and theme development. Custom modules need to be developed to ensure compatibility with Magento 2.
The cost of hiring a Magento Developer ranges from $60 to $100 an hour.
Your migration costs will vary based on the requirements of your store. And it also depends on whether you are taking the paid or free route. A clear cost estimate can be arrived at after evaluating the amount of effort involved in the migration process.
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If you are looking to hire a UX design expert who’ analyze your store and implement UX changes with a strong slant on conversions it can take anywhere between 80 to 200 hours to redesign your site.
Your UX designing costs can range between $1,200 and $20,000. Most UX designers charge $15-$80 an hour.
You can provide design wireframes and creative inputs to save on the time spent on analysis. If you have a basic Magento 1 store with no customizations, your UX design costs are considerably lower.
To make sure that all your features and extensions work and there is zero loss of functionality it is important to invest in frontend and backend development. The effort and costs involved in resolving compatibility issues, test for bugs and build codes depend on the complexity of the features you need for your eCommerce store.
The development costs will depend on the implementation time.
Plan your customizations and feature expectations according to your budget. Frontend and backend development costs can cost you upwards of $70 an hour. The lesser the heavy lifting the lower your costs.
Data Migration is easy if you don’t have custom data in your tables. The Magento Data Migration Tool can be used to migrate data. But if there are custom extensions the entire process becomes more complex as custom extension data needs to be manually inputted into Magento 2.
Data migration usually takes 20-40 hours to complete.
Analyze whether your entire data needs to be migrated. Eliminating redundant or outdated data can help you save up on time and costs.
Business owners have always struggled with accurate budget forecasts and cost planning. In order to get a perfect cost estimate you need to factor in all aspects of the migration process such as data structure inconsistencies, design needs, timelines and the migration partner you choose.
Would you like to get in touch and discuss your migration needs? You can touch base with us here.
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