Founded in 2006, Shopify is the brainchild of Tobias Lütke and Scott Lake. When these two friends first set up their online website, it wasn’t Shopify. It was a website for selling snowboards. Yes, you read it right. But, after being dissatisfied with their results, they decided to start a new project, and that gave birth to Shopify. What started as a snowboard-selling project is now one of the world’s biggest e-commerce companies.
Today, More than 4.5 million businesses use Shopify. The employee count has gone from 2 friends to a family of over 10,000 employees. Shopify has a 19% share of the world’s e-commerce market and is second only to WooCommerce.
If you are a marketer who wishes to earn through affiliate Shopify programs or an entrepreneur who wishes to set up your business with Shopify, this post is for you. We will discuss all the relevant and up-to-date Shopify Statistics below that will help you make an informed decision.
Let’s get right into it, shall we?
Top Shopify Statistics 2023: In A Nutshell
This is basically the key Shopify statistics in a nutshell.
- More than 4.58 million businesses use Shopify.
- The Shopify app store has over 8,000 apps to help businesses customize their stores.
- Shopify processed $79.5 billion US dollars in order value in 2021.
- Employee strength at Shopify is 10,000.
- Shopify merchants have over 500 million buyers in 2022
- Shopify Theme Store has 100+ free and premium themes
Shopify Statistics In-Depth
In this section, we will discuss all the Shopify-related statistics in detail so that you can get a more clear picture of the platform.
Shopify Stores
There are currently 4.5 million online stores that use Shopify. Nearly 70% of the domains are registered in the United States of America, followed by the UK and Australia.
Below is the breakdown of Shopify Stores by Nations
| Country | Online Businesses |
| United States of America | 2,631,715 |
| The United Kingdom | 150,527 |
| Australia | 94,583 |
| Canada | 89,26 |
| Germany | 73,142 |
| France | 58,683 |
| Brazil | 41,845 |
| Netherlands | 34,568 |
| India | 28,930 |
| Italy | 23,950 |
Shopify Plus Stores
Shopify Plus is a dedicated cost-effective plan for enterprise customers. There are currently over 63,100 Shopify Plus stores.
Shopify Plus Stores by Country
Shopify Plus is used across 175 countries.
The United States has the most Shopify Plus stores.
Shopify Plus is more commonly used by retailers in the United Kingdom.
Here is more about Shopify Plus.
- 60.1% of Shopify Plus stores are in the United States
- 8.4% are in the United Kingdom.
- 5.0% are in Australia.
- 5.0% are in Canada.
Below is the breakdown of Shopify Plus stores by country.
| Country | Number of Shopify Plus Stores |
| United States | 15370 |
| United Kingdoms | 2140 |
| Australia | 1288 |
| Canada | 1270 |
| Germany | 962 |
| Italy | 513 |
| Netherlands | 417 |
| France | 408 |
| Denmark | 395 |
| New Zealand | 247 |
Shopify Merchants
As per the latest data, there are 4.58 million merchants selling on Shopify.
Since 2019, Shopify has added 680,000 new merchants to the platform.
Since 2016, Shopify’s merchant accounts have grown by 4.6 fold.
Below is the breakdown of Shopify’s Merchant count since 2012
| Year | Merchants |
| 2012 | 41,000 |
| 2013 | 84,000 |
| 2014 | 145,000 |
| 2015 | 243,000 |
| 2016 | 375,000 |
| 2017 | 609,000 |
| 2018 | 820,000 |
| 2019 | 1,069,000 |
| 2020 | 1,749,000 |
| 2021 | 1,750,000+ |
Shopify Merchants by Region
Out of 193 countries in the world, Shopify has merchants in 175.
The United States has the most Shopify merchants accounting for 50% of the total count.
There are around 875,000 Shopify merchants in the USA.
25% of Shopify merchants are located in the EMEA region.
Below is the breakdown of the same
| Region | Merchants (Share) |
| United States | 2,975,000 (65%) |
| Europe, Middle East and Africa | 837,272 (20%) |
| Asia Pacific, Australia and China | 262,450 (8%) |
| Canada | 104,950 (6%) |
| Latin America | 69,970 (4%) |
Shopify Gross Merchandise Volume
As of 2022, Shopify’s gross merchandise volume is $197.2 billion.
This marks a couple year compound annual growth rate of 57% and an increase of $5.9 billion.
Along with the GMV, the GPV (Gross Payments Volume) increased to $22 billion US dollars.
Below is the breakdown of Shopify’s GMV since 2012
| Year | Gross merchandise volume |
| 2012 | $707.4 million |
| 2013 | $1.62 billion |
| 2014 | $3.76 billion |
| 2015 | $7.7 billion |
| 2016 | $15.37 billion |
| 2017 | $26.32 billion |
| 2018 | $41.1 billion |
| 2019 | $61.14 billion |
| 2020 | $119.58 billion |
| 2021 | $175.4 billion |
| 2022 | $197.2 billion |
Buyers on Shopify Stores
Around 457 million people globally bought from a Shopify store in 2020.
Below is the complete breakdown of Shopify buyers count since 2014
| Year | Buyers |
| 2014 | 28 million |
| 2015 | 57 million |
| 2016 | 100 million |
| 2017 | 163 million |
| 2018 | 216 million |
| 2019 | 300 million |
| 2020 | 457 million |
Shopify Financial Statistics
In this section, we will discuss all the Shopify-financial statistics in detail.
Top Shopify Finance Statistics 2022
- Shopify’s revenue in Q1 of 2022 grew by 22% to $1.2 billion.
- In Q1 of 2021, Shopify experienced the highest revenue growth in its history, largely due to changes in buyers’ behavior due to the pandemic.
- Shopify’s MRR (Monthly Recurring Revenue) grew by 17% y/y as of March 2022 and was $105.2 million
- Subscription Solutions revenue was up by 8% y/y to reach $344.8 million
- Merchant Solution’s revenue grew by 29% to reach $858.9 million.
- Gross profit dollars grew by 14% y/y to reach $637.6 million
- Operating loss for Q1 of 2022 was $98.0 million
- Net loss for the first quarter of 2022 was $1.5 billion
- As of March 2022, Shopify had $7.25 billion in cash, cash equivalents, and marketable securities.
Shopify Revenue
Shopify generated $1.2 billion in revenue in the first quarter of 2022 alone.
This represents a two-year compound annual growth rate of 60%. That is HUGE!
Below is the breakdown of Shopify’s revenue since 2012
| Year | Revenue |
| 2012 | $23.71 million |
| 2013 | $50.25 million |
| 2014 | $105.02 million |
| 2015 | $205.23 million |
| 2016 | $389.33 million |
| 2017 | $673.3 million |
| 2018 | $1.07 billion |
| 2019 | $1.58 billion |
| 2020 | $2.93 billion |
| 2021 | $4.61 billion |
| 2022 | $5.6 billion |
Shopify Revenue Streams
- There are two revenue streams of Shopify: Subscription solutions and Merchant Solutions. In the subscription solutions, Shopify charges a monthly subscription from all Shopify store owners. In the merchant solutions, store owners pay for optional services and ecommerce features on their Shopify store.
- Shopify receives around 28% of its revenue from subscription solutions.
- The Merchant solutions revenue comes from payment gateway charges, sales of ecommerce services and tools, point-of-sale options, shipping, premium Shopify apps, premium Shopify Themes, and Domain names.
- Shopify charges 15% of revenue from premium Shopify themes and app developers once they surpass the $1 million threshold.
Shopify “Subscription Solutions” Revenue 2023
Subscription solution fees include Platform membership costs, Point-of-Sale Pro fees, and sales of applications, themes, and domains all fall under this category.
As of 2022, Shopify’s Subscription solution revenue is $1554.7 million.
In 2021, Shopify registered $1342.3 million in subscription solutions revenue.
Below is the breakdown of the same
| Year | Revenue (Share) |
| 2012 | $19.2 million (80.98%) |
| 2013 | $38.34 million (76.3%) |
| 2014 | $66.67 million (63.48%) |
| 2015 | $111.98 million (54.56%) |
| 2016 | $188.61 million (48.44%) |
| 2017 | $310.03 million (46.05%) |
| 2018 | $465 million (43.46%) |
| 2019 | $642.24 million (40.65%) |
| 2020 | $908.76 million (31.01%) |
| 2021 | $1342.3 million (48%) |
| 2022 | $1554.7 million (45%) |
Shopify Merchant Solutions Revenue
Payment processing fees account for the majority of Shopify’s merchant solutions income. Referral fees, advertising-generated income, and Point Of Sales hardware sales are some of the other revenue streams in this area.
Shopify registered a merchant solution revenue of $4.05 billion as of 2022.
In 2021, This revenue was $3,269.5 million.
Below is the breakdown of the same
| Year | Revenue (Share) |
| 2012 | $4.51 million (19.02%) |
| 2013 | $11.91 million (23.7%) |
| 2014 | $38.35 million (36.52%) |
| 2015 | $93.25 million (45.44%) |
| 2016 | $200.72 million (51.56%) |
| 2017 | $363.27 million (53.95%) |
| 2018 | $608.23 million (56.54%) |
| 2019 | $933.93 million (59.35%) |
| 2020 | $2.02 billion (68.99%) |
| 2021 | $3.26 billion (62%) |
| 2022 | $4.05 billion (73%) |
Shopify Region-wise Revenue
As per 2020’s data, Shopify produced $2.15 billion from North American sellers, accounting for 73.3 percent of total sales.
A total of $780 million is generated outside of North America.
| Region | Revenue (Share) |
| North America | $2.15 billion (73.3%) |
| EMEA | $454.27 million (15.5%) |
| the Asia Pacific, and China | $292.24 million (10%) |
| Latin America | $36.16 million (1.2%) |
Applications on Shopify
The Shopify app store has over 8,000 apps in 2 dozen different categories to help businesses customize their stores.
Below is the breakdown of the same
| Year | Shopify Apps |
| 2015 | 900 |
| 2016 | 1,400 |
| 2017 | 2,300 |
| 2018 | 2,500 |
| 2019 | 3,700 |
| 2020 | 6,000 |
| 2021 | 7,000 |
| 2022 | 8,000 |
Other important Shopify Statistics
Here are some other important Shopify Statistics.
Shopify Popular Category
Fashion makes the top-selling category on Shopify, with over 76,000 stores selling textile-related items. Home and gardening is the second most popular category, with around 34,000 stores.
Shopify Daily active users
Shopify hosts 2.1 million active users daily. Weekends and holidays are the rush hours on the platform.
50%+ of Shopify Stores Get Repeat Purchases
More than half of buyers who make a purchase from a Shopify site go on to make at least one further transaction.
Also, it is very likely that a Shopify user makes a purchase from the same shop 3.8 of the time.
Shopify Referrals
Shopify gets a lot of referrals and that is a great sign for any e-commerce platform.
Between the tie of 2019-20, the platform got around over 26,300 referrals.
Around 70% of Shopify orders Come from Mobile
This is a sign for all the marketers out there to make their shops mobile-friendly. If buyers don’t like your user interface or find it difficult to use, you may lose a lot of orders.
Conversions Can be Increased by up to 250 folds When Using 3D Product Images on Shopify
Use 3D images for your products in the store and watch your sales boom. Many customers like to see how the product looks. Giving them a 3d perspective would be a great way to grab their attention.
Related Read:
Conclusion: Shopify Statistics (2023)
That is all from our side, amigos! We will keep updating this space with more great facts and figures for you. If you are thinking about starting your own online store, Shopify is a great way to go. Especially its Plus plan, It is worth every penny.
4.5 million people are already using the platform, when are you joining?
Sources
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