Top Magento 2 Features that Will Boost Your Business Sales
So, what’s new? – In every release, Magento presents online merchants, developers and service providers with a new suite of features and improved functionalities to create a more balanced, user-friendly ecommerce environment and take the scalability and ecommerce performance to the next level.
While Magento is already jam packed with a comprehensive array of functionalities, the constantly evolving ecommerce industry and technology demands future-proof capabilities for effective Magento web development and to improve the customer shopping experience.
Highlighted below are some Magento 2 features that will have a significant impact on your ecommerce operation in terms of sales, customers experience and revenue.
MSI (Multi-Source Inventory)
Before Magento 2.3, the platform used only a single stock source. Thanks to the introduction of MSI, retailers can manage the inventory across multiple channels regardless of the location of the customer, warehouse and the type of product or sales channel.
Multi-Source Inventory is a new set of tools available as a Core Bundled Extension in both Magento 2.3 open source and community versions enabling merchants to improve their operational workflows and efficiencies by linking multiple inventory sources to one or multiple channels.
Here’s a rundown on what merchants can do with MSI:
- Assign products and their quantities to each fulfillment source like warehouse, physical store, distribution centre etc.
- Track, update and transfer inventory at each of these sources/locations.
- Control which inventory sources should be used to fulfil orders for each website.
- Add stocks to assemble virtual inventory from particular or all sources.
- Ship partial and distributed shipments from multiple locations.
- Override and rerun sources with matching order shipments.
- Set notifications for low available/saleable inventory, out-of-stock, and backorders.
Magento PWA (Progressive Web Applications)
Magento PWA Studio is the new addition to Magento 2.3 which offers a suite of tools to develop, deploy and optimise Magento stores as Progressive Web Applications. These tools enable developers to learn PWA techniques, build lightning-fast web pages and PWA extensions and components to be reused and sold on the Magento marketplace.
Some of the ways in which merchants and end users can benefit from PWA include:
- PWA focuses on mobile-first approach, thus allowing stores developed with PWA studio to seamlessly function on mobile devices which improves user engagement and experience.
- PWA combines the features of native apps with the benefits of advanced web technology which allow online stored integrated with PWA to run smoothly both as a web page and as a mobile application.
- Unlike native apps, PWA stores use a single codebase which reduces their development and maintenance costs. Moreover, the same application can work effortlessly on iOS and android devices, eliminating the need to create separate apps for both platforms and saving a great deal of money.
- A PWA loads 2-3x faster than a responsive website or an m.dot web store. Google’s mobile-first indexing contributes to high speed and smooth performance of PWA stores on mobile devices.
- With PWA, users get access to up-to-date content without having to download and install updates. What’s more, it also eliminates the issue of software fragmentation as you don’t need to maintain the older version of the application.
- PWA also works offline, allowing users to continue browsing the pages even without an internet connection.
Related Product Rules
Another robust extension from Magento 2 Commerce- Automatic Related Products is an effective way to strategically showcase related products as alternatives to the customer and increase the chances of complementary product sale and generating revenue.
The module uses an automatic rule-based algorithm (conditions and actions) to determine relations between displayed products and related items and offer best product recommendations to the customer.
Highlights of the Automatic Related Products include:
- For each Magento related products block you create, you can choose where you want to display recommendations – like on the product page, category page or within the shopping cart.
- You are also allowed to choose a custom position for the recommendation block within the page – before content, under the native block, instead of native block or inside the page.
- You can provide a custom name and also define the number of items to be displayed in the block at once.
- You can use any attributes to automatically create a group of related products and also customise pre-made rules in the backend.
- The module offers A/B testing support to help you assess the performance of the rules you created.
Magento Reward Points
Magento 2 Commerce Reward Points module allows users to create and implement effective reward programs to encourage customers to keep coming back for more. By offering loyalty points to customers on the bases of a wide range of activities, which they can redeem towards future purchases, you can create a sense of loyalty and easily convert occasional website visitors into loyal customers.
With Magento 2 Reward Points extension, you can
- Easily modify exchange rates for earning and spending points anytime.
- Manage customers’ reward point balance manually.
- Notify customers about the expiration date of points to trigger sales.
- Analyse customers’ purchasing behaviour through reward points reports.
- Allow customers to track the reward points history in their accounts.
The main objective of B2B Commerce functionality of Magento 2.3 Commerce is to facilitate marketing, sales and account management for business-to-business buyers through an easy-to-use, secure platform. With Magento B2B solution, B2B customers can self-manage their company account and set specific roles and permissions for multiple tiers of buyers.
Highlighted below are some other features of Magento B2B Commerce:
- Each customer receives a unique username and password which allows them access to their company account with information like orders, order history, specific product pricing, promotions etc.
- Customers can check stock levels in real-time either with exact estimations or high/low indicators.
- Customers can place orders by browsing products through a product catalogue or by simply entering the product code and order quantity.
- Customers can check order and invoice history and also print past invoices, credit statements in PDF format.
All these features offer numerous ways for online merchants to improve their customer engagement, customer loyalty and overall shopping experience which ultimately results in increase sales and revenue. If you have been running your online store on an older version of Magento, our Magento experts can help you upgrade to Magento 2 and benefit from its advanced functionalities with easy customisation and support.