You must upgrade to receive the support, an improved user interface and experience, a fast-loading, slick dashboard, and an overall enhanced platform that your business deserves.

How Much Does Magento 2 Upgrade Cost?

Magento 2 has a somewhat higher price tag than Magento 1. The cost is approximately $22,000 per year, compared to $18,000 per year for Magento 1, with free community versions included.

A critical consideration is whether the cost of migrating from Magento 1 to Magento 2 is justified. The answer ultimately comes down to your requirements, the volume of transactions, the amount of inventory you're promoting, traffic, SEO relevance, and the value of user experience.

However, we will argue that YES, it is. Magento 2 will increase the speed and scalability of your e-commerce website, as well as the number of transactions. According to a new Google update, user experience and page load time are two of the most important variables in SEO ranking.

Magento 2's cost is justified by the benefits of installation, customizable setup, and technical support for businesses considering its use.

Magento 1 vs. Magento 2 in terms of speed and performance

Magento outperforms its competitors in terms of page load speed and query execution time due to caching (Varnish) and database optimization. This is also a significant enhancement over Magento 2, as it addresses a common issue for Magento 1 users.

• Magento 2 now contains support for the new PHP version (beginning with PHP 5.5x), as well as PHP 7. These updates include security patches and new features.

• Magento 2's loading time is approximately two to three seconds faster than the standard edition. Magento 2 loads the homepage, category pages, and product pages in less than 1.5 seconds, even when no caching tool is used.

• The content on the page is displayed more clearly. Users will not have to wait for the complete website to load when reading the primary content.

• Magento 2 now has a module for clearing the cache on the server-side. As a result, users should refrain from installing third-party modules, as they did in Magento 1.

• Magento 2 reduces and bundles JavaScript, resulting in decreased unwanted customer activity.

• Compress images: Magento 2 provides capabilities for automatically compressing images on the server, rather than manually compressing them in Magento 1.

• Enhancements to the approach for maintaining the cache by utilizing static content.

• In Magento 2, load speed is a critical differentiator. Magento 2 has a significantly faster load time than Magento 1. This is because both the Community and Business editions of Magento include full-page caching.

Note: While Magento 2 includes significant enhancements, store performance should still be improved on a proactive basis. Additionally, it is critical to keep in mind that the consistency of the Magento hosting has a significant impact on the overall performance of the business. While new technology is beneficial, if you do not employ high-quality hosting, your store's performance will suffer.

Extensions

Numerous third-party extensions are available for Magento 1. Even for seasoned developers, however, deploying Magento 1 extensions will require considerable time. Additionally, conflicts between Magento 1 extensions must be handled manually, which takes time and effort.

For Magento 2, plugins enable code to be nested into core code rather than overriding it. As a result, the process and development of the frontend have become more straightforward, and the layout can also be altered more easily owing to HTML5, Less, require.js, and CSS3.

Dashboard

Compared to Magento 1, where the admin panel was cluttered, the Magento 2 admin panel is more intuitive, user-friendly, and interactive, with a clean, elegant interface. As a result, merchants with less technical knowledge can easily manage their Magento 2 stores.

Magento 2 includes a feature-rich dashboard that displays historical, current, and average orders, lifetime retail revenue, top search terms, income tax, and bestsellers. It's easier to search for specific information and go to Magento 2 menus.

Keep Reading: Magento 2 Vs. Magento 1 – Why Should You Upgrade To Magento 2?