Shopify is one of the leading e-commerce platforms used today. In 2006, it started as a solution for selling snowboarding equipment online. Today, this cloud-based platform has evolved into an “all-in-one” e-commerce solution that caters to e-stores of different industries.
Some of the top brands including Pepsi, Lord & Taylor, Nestle, GymShark, Staples, Crate & Barrel, Tesla, and Heinz use the Shopify e-commerce platform (Shopify). Besides, there are numerous lesser-known brands and businesses as well using it.
As multitudes of online stores run using this platform, it has access to the data of all these. So, glancing through Shopify statistics can give current and soon-to-be e-store owners data-driven insights into the current condition of e-commerce.
Shopify statistics- Editor’s picks
Here are some Shopify statistics that we feel would be good if you get to know them at the very start of the list.
- Shopify is one of the most popular e-commerce platforms, holding a 20% share of the market (Pagely.com).
- Globally, Shopify ranks second place in the list of the top three e-commerce platforms. The first place is held by WooCommerce and the third by Magento (BuiltWith).
- About 4 million e-commerce websites use the Shopify solution (Builtwith.com).
- 93.95% of Shopify’s traffic is organic. And about 6.05% is paid (SimilarWeb).
- 79% of Shopify’s visits are from mobile devices and 28.93% of them come from search engines (Shopify & You).
- Shopify’s bounce rate is 56.19%. This percentage is categorized as “Around Average” (SimilarWeb).
- One of Shopify’s proudest moments was when it had its billionth order in the second quarter of 2018 (Shopify & You).
- In 2019, Shopify merchants made $2.9 billion in global sales over Black Friday and Cyber Monday. That breaks to a revenue generation of $1.5 million per minute. (Shopify News).
- Shopify plus, which is Shopify’s premium plan is used by over 7,000 businesses (Shopify Plus).
- Shopify has invested over $850,000 in the platform’s security (HackerOne).
- In 2021, the gross profit of Shopify increased by 61% and accounted for $2,509.2 million (Shopify).
- In 2012, the number of Shopify users was 41,000+. It grew continually and reached 3,924,000+ in 2022 (Shopify).
- More than 10,000 people are currently working on the Shopify platform (Shopify).
The usage of this platform
Here are Shopify statistics that tell you how many e-commerce businesses across the world use the platform.
- E-commerce businesses in more than 175 countries across the world use Shopify for running their e-store (Shopify).
- Currently, about 4 million e-stores run on this platform (Builtwith.com).
- 65% of all Shopify stores are operating in the United States of America. This accounts for2,571,033 stores (Builtwith.com).
- The second most popular country for Shopify is the UK. There are 167,474 Shopify stores based there (Builtwith.com).
- The third and fourth largest markets for Shopify are Australia and Canada. These have 120,412 and 97,933 Shopify stores, respectively (Builtwith.com).
- Another country where Shopify is popular, is Germany. There are 92,451 Shopify stores there (Builtwith.com).
- Shopify stores are increasingly growing in Asia-Pacific, particularly in the Philippines, Indonesia, and Thailand (Techwireasia.com).
- Despite China being the biggest e-commerce market, only 6,652 Shopify stores exist there (Builtwith.com).
- 18% of Shopify stores operate in the retail niche (Enlyft).
The traffic and performance of this platform
Here are some Shopify statistics related to the traffic it generates and how it performs across devices, channels, and more.
- Shopify gets 79% of its traffic from mobile devices. E-commerce business owners, pay attention to this vital Shopify statistic that portrays the importance of making your e-store mobile responsive (Shopify&You).
- Email marketing brings the highest conversion rate for Shopify stores. The conversion rate is 4.29%, which is higher than other marketing strategies such as pay-per-click advertising, social media marketing, search media marketing, direct marketing, or SMS marketing (Shopify).
- 300% higher revenue is brought by repeat customers than first-time shoppers to Shopify stores. No wonder, 21% of most Shopify using brands’ total customer base comprises repeat customers (Gorgias).
- Proactive live chat increases the average order value on Shopify stores by 10-15%. Such chats can also boost an e-store’s overall revenue by 13% (Gorgias).
- More than 62 billion buyers from around the world purchase from the same Shopify stores twice. On average, Shopify store buyers will buy from the same Shopify store 3.8 times (Shopify News).
- Paid advertising is 15 to 20% less effective for most e-stores running on Shopify (Shopify).
- Customer acquisition cost has shot up by 60% over what it was 5 years back (Gorgias).
- 80% of the time, renowned e-stores render great customer experience (CX). So, CX is another area that e-commerce stores should prioritize (Shopify).
- The probability of customers buying an item doubles if the product listing accompanies a 3D image of it (Shopify).
Shopify statistics- The revenue generation of this platform
The revenue generation statistics of Shopify stores are presented below. Though some are just general, you’ll gain valuable insights from some.
- During its 16 years of functioning, Shopify has generated a sales revenue of over $543 billion (Shopify).
- In the current year- 2022, it’s predicted that the total sales made through the platform will account for half a trillion dollars (Shopify).
- During the first half of 2022, the total revenue generation of Shopify was $2.5 billion (Shopify).
- The top-selling e-stores on Shopify earn revenues of more than $10 billion. Thu, the platform dominates the global commerce market (Gorgias).
- The average order value on this e-commerce platform is $85 (Littledata.io).
- 28% of Shopify’s total revenue is from subscriptions. In the second half of 2022 alone, this accounted for $366.4 million, which is a 10% increase on 2021 (Shopify).
- More than two-thirds (72%) of Shopify’s revenue comes from merchant services including, payment processing fees, transaction fees, etc. (Shopify).
- In the second quarter of 2022, the Monthly Recurring Revenue (MRR) generated by Shopify was $107.2 million. This accounts for a 13% increase on 2021. (Shopify).
- Shopify generated an income of $928.6 million from its ‘merchant solutions, including Shopify Markets, Shopify Capital, and Shopify Payments for the second quarter of 2022. This accounts for an 18% increase on 2021. (Shopify).
- The Gross Merchandise Volume (GMV), which refers to the total value of sales made on a platform, was $46.9 billion in the second quarter of 2022. This accounts for an increase of $4.7 billion in 2021 (Shopify).
The shareholders of this platform
The following Shopify statistics relate to the people working on this enormous e-commerce solution to make it smooth functioning.
- More than 60% of shareholders at Shopify are institutional investors. 1,388 institutions hold shares of Shopify (Finance.yahoo.com).
- Company insiders hold 0.18% of shares of Shopify (Wall Street Zen).
- Tobias Lütke, Shopify’s CEO and core founder, currently owns about 6% of the firm (Forbes).
- Tobias Lütke personal worth is $3.3 billion (Forbes).
- Tobias Lütke has a 40% voting power in the firm via a non-transmittable ‘founder share’ constitution consented to by Shopify shareholders at the firm’s annual general meeting held on 7 June 2022 (Investopedia).
The platform’s conversion data
This section presents the conversion-related statistics you’d like to know. All the Shopify statistics given below are sourced from Littledata.io.
- The average conversion rate for e-stores running on Shopify is 1.4% (Littledata.io.).
- The top 10% of well-performing Shopify stores have an average conversion rate of 4.7% (Littledata.io.).
- The biggest conversion rate for Shopify stores is 8% (Littledata.io.).
- The average conversion rate for Shopify stores on mobile devices is 1.2%. However, the top 20% and 10% of these stores have a mobile conversion rate of 3.9% and 2.7%, respectively (Littledata.io.).
- The top 20% of Shopify-powered e-stores have a conversion rate of over 3.2% (Littledata.io.).
- The least performing 20% of Shopify-powered online stores have a conversion rate of nearly 0.4% (Littledata.io.).
The platform’s success rate
Go through Shopify statistics to get an idea of how successful the e-stores running on this platform are.
- Only 2%-5% of Shopify stores are quickly abandoned for different reasons. This implies that the platform is quite successful (Shopify).
- Depending on the products sold and the volume of traffic generated, Shopify stores can earn anywhere between $1,000 and $100,000 each month (Shopify).
The platform’s stats on global e-commerce trends
Shopify recently published some statistics on global e-commerce. This section has brought those to you so that you can see where the trends and global market are moving to.
- The global Covid pandemic has resulted in supply chain resilience, which isn’t expected to normalize till 2023. And even when it does, there’ll be global logistic network vulnerabilities to future regulatory changes, natural disasters, and political instability (Shopify).
- Mobile shopping on the Shopify platform generated 71% of e-commerce sales in 2021. This indicates the significance of making e-stores mobile responsive (Shopify).
- Social commerce, which refers to the use of social media for marketing and selling products and services, is forecasted to triple by 2025 (Shopify).
- In 2022, 49% of businesses are investing in social commerce content. We suggest that yours too does it (Shopify).
- Retail e-commerce sales in Asia-Pacific are predicted to be higher than the culmination of all of the remaining areas of the world. This is owed to the vast majority (>85%) of new middle-class growth in the region, technological advancements and rapid urbanization, and numerous private and government-led initiatives in China (Shopify).
- 65% of consumers favored e-commerce website content in their native language. They didn’t mind even if it was of lower quality. Additionally, 40% don’t purchase from sites in other languages (CSA Research).
- 57% of online shoppers buy from overseas retailers. Credit cards are the most common payment gateways in the global scenario. In India, China, and other developing markets, cash on delivery, direct debits, digital payment systems, and debit cards are more popular (Shopify).
- The wholesale marketplace also is going online. Ankorstore, a wholesale marketplace in France, generated €82 million in May 2021 (Shopify).
That’s our list of Shopify statistics to know in 2022. Shopify is carving a name for itself in global e-commerce in recent years. The number of merchants, buyers, and Gross merchandise volume on the platform is rapidly increasing year after year. All these make Shopify a great option to build your e-store.
1. What is Shopify?
Shopify Inc. is a Canadian e-commerce company. Its e-commerce offering- Shopify is a solution for building, customizing, and operating an online store.
2. How much does it cost to use the Shopify platform?
Shopify’s basic plan costs $29 per month. The platform charges 2.9% + 30¢ for each online transaction made on it. There are also higher-priced plans that offer more features and functionalities.
3. Is Shopify friendly for use by beginners?
Shopify lets you build and customize your online store without any coding knowledge. However, you need to know the basics of it and the operations of the e-commerce world to be up and running.