Magento (An Adobe Company) announced the release of Magento 2 in 2015 and at the same time, it declared a date for End of Life for Magento 1 in 2018.
The original end date for support of November 2018 created panic within the Magento community as there weren’t enough Magento 2 developers to migrate the existing portals from Magento 1 to Magento 2.
With no support & security patches after the cut-off date, any sites that missed out on migration would be vulnerable to security breaches, hacks and threats.
However, Magento realised that the existing merchants using Magento 1 needed time to migrate to Magento 2 and Magento would continue support until June 2020.
What does Magento 1 end of life mean?
End of Life (EoL) means that Magento will no longer support the Magento 1 software after the cut-off date. The official EoL date for Magento 1 (both Magento Commerce 1 and Magento Open Source) is June 2020. Magento will no longer be providing support, security patches and quality fixes for these systems.
Risks associated with staying on Magento 1
- No Security Patches
- Missing on new Processes and innovations
- Losing on PCI Compliance
- No Support for the Platforms or Merchants
How Much Does It Cost To Build An eCommerce Site On Magento 2?
Every Magento 2 website build is unique and depending on the retailer’s size, building a new website on Magento 2 can cost anything from £10k-£100k+. Large & established retailers will need to consider existing features, functionality and data migration which will be added to the cost. Building a website using Magento Open Source will likely cost more upfront due to custom development work and the need to purchase additional extensions. However, for retailers with a high turnover, this may be more cost-effective than the ongoing charges for Magento Commerce which are based on revenue tiers.