If you wanted to read about what happened at Magento’s Imagine Conference 2016, by now you’ve had your chance to hear the big announcements of Magento Enterprise Cloud Edition, the new Magento Marketplace, and these gaudy Magento stats:

♦ It’s the #1 B2B/B2C platform in the world
♦ 50bn in annual platform revenue
♦ Over 800 active Magento 2 sites

Rather than repeat that which has been said, here are the ecommerce bits that stuck in my skull after 3 days of Imagining…


Merchants & Markets

  • 15-20% of ecommerce deliveries in Poland go through parcel lockers. If you live in a densely populated city, this distribution channel is coming.

  • PayPal stats – 5 years ago, mobile was 1% of PayPal transactions. Today it’s 28%. Shane Vaughan of Agri Beef implemented PayPal, and immediately, 30% of their revenue was through PayPal. Obviously, you need to check the PayPal box. AmazonPayments had a strong presence at the show, but how many payments options do we need? We will follow the customers…

  • Smaller brands are struggling for positive ROI on Facebook Ads as they fail to compete with larger brands driving up CPCs and paying for awareness rather than just for acquisitions.

  • Australian merchant complaining, “I used to be a retailer, now Google says I have to be a retailer AND a content publisher!” Yup. Don’t mess with Google. See hilarious example here.

  • A home appliance merchant noting they go from ecom “order to truck” in 10 minutes, and now fraud rates are up, as they have less time to spot transaction outliers.

  • “If you don’t have data, you’re just another person with an opinion.” – W. Edwards Deming. (Mediaspa lives by this credo.)

  • Heard from James McDonald of Lyons, “Reporting is elevated to analysis through segmentation.” Love it, and this example he gave: shoppers using internal search convert at 3x the rate of those using navigation.

  • From Joshua Warren of Creatuity: a one-second delay in site speed drops conversions up to 7%. So, if you sell $1,000/day, that delay costs you $25,000/yr. If $10,000/day, 250k lost/yr. If selling $100k/day, that’s 2.5m lost/yr!


Magento

  • Re: speed – lots of debate as to why Magento 2 is faster, whether it be Varnish over Full Page Cache, the upgrade to PHP 7, or the new architecture, but either way… it’s A LOT FASTER! Hallelujah!

  • It’s unanimous – everybody loves M2 checkout (and Raymond) and the ability to create an account after placing an order.

  • Magento is bringing Enterprise Edition pricing to the sub-$1m revenue customer in the future. This will be great for our SMB merchants, and I’m looking forward to more detail. Cloud is a nice shot at DemandWare and this puts Shopify on notice. I love how Magento is positioning themselves.

  • Paul Boisvert, Magento’s head of Product Management, talked about Magento 2.1 features due out in June, including staging/preview, elastic search, a code migration tool already on github, and far more juicy detail here.

  • Some features merchants talked about wanting from out of the box Magento:

♦ Gift register
♦ Editing of existing orders
♦ SMS check out
♦ POS/ERP – POS would be nice, but ERP may be asking too much
♦ Gift with purchase promotion
♦ Gift card for CE

Agency

  • Developers still wear T-shirts, sales guys blazers. T-shirt and a blazer… generally a solution architect.

  • Bluefoot is a neat technology for making Magento a more user-friendly CMS. Kicking myself that mediaspa didn’t make this first! Magento product roadmap includes this functionality for Magento 2.3

  • Agile is the jam! And most shops implement some version of it in their agencies. We are always trying to get more Agile.

  • Gate-to-gate drone deliveries at the Frankfurt Airport? Get it done AOR!

  • Kevin Eichelberger from Blue Acorn had me tweeting from his talk like a child because he offered a “prize” for the most tweets. Though embarrassed, I will now be adding that strategy to my next speaking engagement… He did earn it though, as the testing results showcased were often counter-intuitive, driving home the point that we don’t know what we don’t test!

    Some A/B Tests where Average Revenue/User INCREASED:

1.  Removing reviews from PDP
2.  NOT showing a price is discounted from MSRP
3.  Limiting scrolling with more dense content

Okay, that’s just a small taste of the ridiculous amount of information flowing through Imagine. Learn more about mediaspa & Magento here, or if you’d like talk about any of this in greater detail, please give us a shout!

Gary Benerofe

Managing Partner - mediaspa