Shopify is one of the most popular e-commerce platforms in the world, but how big is it? How many people use it?
Shopify, one of the leading e-commerce platforms, has a fascinating origin story.
It all began when two friends tried to sell snowboards online and, dissatisfied with the existing options, decided to create their own platform.
Fast forward to today, and Shopify is host to a diverse array of businesses.
The company's growth and success is truly inspiring.
In this post, we've compiled some of the most recent and noteworthy Shopify statistics (Updated for 2023).
These figures showcase the company's impressive reach and impact in the world of online commerce.
Get ready to be amazed by the sheer scale of Shopify's success.
More than 4M merchants sell using the Shopify platform. (Shopify Unite)Shopify's 2023 first quarter report highlights the following updates:
Shopify's 2023 first quarter report highlights the following updates:
➣ Gross Merchandise Volume (GMV) increased by 15% to $49.6 billion, representing a $6.4 billion increase compared to the first quarter of 2022.
➣ Total revenue grew by 25% to $1.5 billion, showing a 27% increase on a constant currency basis.
➣ Merchant Solutions revenue surged by 31% to $1.1 billion, driven primarily by the growth of GMV and the continued penetration of Shopify Payments.
➣ Gross Payments Volume (GPV) reached $27.5 billion, accounting for 56% of GMV processed in the quarter.
➣ Subscription Solutions revenue rose by 11% to $382 million, primarily due to more merchants joining the platform and higher variable platform fees and app usage.
➣ Monthly Recurring Revenue (MRR) increased by 10% to $116 million, driven by more merchants converting to full-priced Standard subscription plans and growth in Shopify Plus merchants and retail locations.
➣ Gross profit dollars grew by 12% to $717 million, with a gross margin of 47.5% compared to 53.0% in the first quarter of 2022.
➣ Operating loss was $193 million, representing 13% of revenue, compared to $98 million, or 8% of revenue, in the same period last year.
➣ Adjusted operating loss was $31 million, or 2% of revenue, reflecting lower gross margin percentage and increased operating expenses.
➣ Capital expenditures were $14 million in the first quarter of 2023, slightly lower than the $16 million spent in the same period last year.
While Shopify's total revenue experienced a 26% increase in 2022, reaching $1.7 billion, which translates to a 28% increase on a constant currency basis. (Shopify Q4 Announcement)
The Shopify App Store contains over 3,200 apps. (Shopify)
Shopify’s total revenue in the first quarter of 2021 was $988.6 million. (News Shopify)
From March 2020 to January 2022, the number of active Shopify stores skyrocketed by an impressive 201%, eventually totaling a staggering 3.75 million in 2022. (News Shopify)
From March 2020 to January 2022, the number of active Shopify stores skyrocketed by an impressive 201%, eventually totaling a staggering 3.75 million in 2022.
Over 7,000 employees work for Shopify.
Shopify was founded in 2006 by three Canadian, inspired by their poor online e-commerce experience to sell snowboard equipment.
Shopify is one of the leading e-commerce platforms, with almost 20% market share.
There are over 100 free and paid Shopify themes available.
Shopify opened its first brick-and-mortar storefront in Los Angeles in 2018.
Shopify offers a large affiliate program, where affiliates can earn an average of $58 for each user they bring as signup members for a paid plan.
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How huge is global e-commerce, and what are the leading trends?
Shopify has recently published some global e-commerce statistics to help marketers and business owners see where the global market and trends are headed:
Global e-commerce is expected to rise to a total of $4.89 trillion in 2021—almost a 400% increase in seven years.
57% of online shoppers make purchases from overseas retailers.
Globally speaking, credit cards remain the most popular payment method. In developing markets like China and India, debit cards, digital payment systems, direct debits, and cash on delivery are more popular.
China has the largest portion of global e-commerce size and sales, outranking the United States. (Oberlo)
So, you know that Shopify is huge, but how many Shopify stores are there now?
More than 2.1 million daily active users are using Shopify in 2023.
More than 3.75 million live stores are on Shopify in 2022. (genus.ai)
Shopify is the third-largest online retailer in the United States, following Amazon and eBay. (Source: Shopify)
Shopify users include famous brands like Pepsi, Gymshark, Unilever, WaterAid, Redbull, and Tesla Motors. (Source: Shopify)
Workie, Roxxe, and Porto are three of the most popular Shopify themes. (Source: Ecommerce Platforms)
Shopify dominates the eCommerce landscape in the United States, with a staggering 2,681,369 websites utilizing its platform, accounting for 19.8% of the market share.
This clearly demonstrates Shopify's immense popularity and influence in the American eCommerce industry.
More than 80% of Shopify retailers use third-party apps, and more than 25.8 million apps have been installed. (Source: Shopify)
Shopify POS powers over 100,000 merchants. (Source: Shopify)
Online shoppers are twice as likely to purchase a product with a 3D model over a flat image. (Source: SpeedBoostr)
Shopify’s total platform sales around the world are estimated at $200 billion to date.
Mobile traffic makes up 79% of the total traffic and 69% of orders of all traffic.
The average visitor spends over 3 minutes on Shopify and goes through more than 3 stores.
Shopify received more than 58 million visits in 2020.
The top-grossing companies on Shopify have annual revenues of $7 to $11 billion. (Statista, Shopify)
Shopify generated more than $900 million in subscription solutions and around $2 billion in merchant solutions in the fiscal year 2020. (Statista)
Check out more Shopify conversion rate statistics.
There are 6,000 Shopify apps available on Shopify App Store with 12 different categories.
Shopify powers over 841,000 stores in the United States.
There are over 6,312,392 Shopify Plus stores in 2023.
Shopify merchants run over 1,000,000 businesses in 175 different countries.
That being said: It’s important to note that the current number of active Shopify stores is constantly changing.
There are over 2,297 Million live websites using Shopify. (Builtwith)
The majority of the domains (71.27%) are currently registered in the United States with over 1,63 Million domains. The United Kingdom and Australia follow the US completing the top three.
Shopify’s success rate is pretty high with only between 2%-5% of stores abandoned quickly for varying reasons. However, Shopify doesn’t provide any detailed data about that. Still, we can look at the Gross Merchandise Volume, which is sales volume across all merchant stores.
In the last reported quarter of 2021, Shopify’s Gross Merchandise Volume was $37.30 billion, up by 114% year-over-year from $17.40 billion. (Shopify Quarterly Results)
Source: Shopify Quarterly Results
Depending on the type of product and the amount of traffic you get on your Shopify website, you can make anywhere from $1,000 to $100,000 a month.
Mind that there are many variables that can affect the revenue you generate such as business types, amount of traffic, marketing, and so on.
Here are some of the biggest companies that use Shopify:
There are over 7,000 employees working for Shopify while over 700,000 are employed directly and indirectly in the partner community. (Source: Shopify and You Blog)
That’s all for my list of Shopify stats in 2023. The global e-commerce platform is growing rapidly and although not the biggest in terms of market share, Shopify’s gone through a record growth over the past years.
Gross merchandise volume, number of merchants, and online buyers are increasing year over year. As the stats also demonstrate, Shopify leaves most e-commerce platforms collecting dust.
Additionally, since many reputable brands power their websites with Shopify, it can be at the top of the list when choosing who to partner with or build an online store with.
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