Established in 2006, Shopify is a one-stop solution b2b e-commerce platform that assists digital sellers in starting, running, and growing their online stores. It is specifically designed for anyone running an eCommerce business.
Tobias Lütke and Scott Lake came up with the idea for Shopify. It wasn’t Shopify when they first launched their online store. It was an online platform that sold snowboards. But, unhappy with their outcomes, they made the decision to initiate a brand new startup for people who are facing the same issue as them, giving birth to Shopify. What began as a snowboard-selling venture has grown into one of the world’s largest e-commerce companies.
If you wish to know deeply about Shopify, this place is for you. We have compiled up-to-date Shopify statistics as of 2023. Read them below to know more.
Shopify Statistics At a Glance 2023
This is basically the key Shopify statistics in a nutshell.
- 1.75+ million businesses globally use Shopify.
- 7k+ applications are available in the Shopify app store to assist businesses to customize their stores.
- Last year Shopify processed $79.5 Bil. in order value (2021)
- Shopify has a workforce of more than 7k people.
- In 2022, Shopify merchants will have over 500 million buyers.
- The Shopify Theme Store offers over 100 free and premium themes.
As of May 2022, Shopify is used by 5.6 million online stores.
Around 70% of domains are enrolled under Shopify in the USA followed by the United Kingdom and Australia.
The following is an overview of Shopify Stores by Nation.
|United States of America||2,539,230|
|The United Kingdom||160,417|
Plus Store Statistics
Launched in 2014, Shopify plus provides rapidly growing businesses with a personalized application framework at a low cost in terms of time, money, and innovation.
Shopify plus’ cost-effective, potent platform serves millions of enterprises globally, from startups to Fortune 500
There are currently over 25,700 Shopify + stores across 175 countries.
The United States has the most Shopify + stores
Shopify + is more commonly used by retailers in the United Kingdom.
|Country||Share of Shopify + Stores|
Here is the overview of Shopify + Stores by Nation
|Country||Number of Shopify Plus Stores|
Shopify has merchants in 175 nations
The USA accounts for 50% of the total Shopify merchants.
The count of Shopify merchants in the USA is around 875,000
Here is an overview of Shopify Merchants by Region
|Region||Share of Merchants|
|APAC + China||15%|
|Region||Number of Merchants|
|APAC + China||262,460|
Shopify Buyer Stats
Nearly 458 million shoppers made a purchase from a Shopify store in 2020 alone.
Here is the complete overview of the same
Shopify’s gross merchandise volume is $43.2 billion US dollars as of the First Quarter of 2022.
It is a 2-year compound annual growth rate of 57 percent and an increase of $5.9 billion US dollars.
Shopify’s Gross Payments Volume is $22 billion US dollars as of the First Quarter of 2022.
Here is the overview of the same
|2022 First Quarter only||$43.2 Bil.|
- Shopify’s revenue increased by 22% to $1.2 billion in the first quarter of 2022.
- Shopify achieved the greatest revenue growth to date in the first quarter of 2021, owing largely to a shift in buyer behavior caused by the pandemic.
- Shopify’s Monthly Recurring Revenue was $105.2 million, up 17 percent year on year in March 2022
- Subscription Solutions revenue increased by 8% year on year to $344.8 million.
- Merchant Solution’s revenue increased by 29% to $858.9 million.
- Gross profit dollars increased by 14% year on year to $637.6 million.
- The operating loss for the first quarter of 2022 was $98.0 million.
- Net loss for Q1 2022 was $1.5 billion.
- Shopify had $7.25 billion in cash, cash equivalents, and marketable securities as of March 2022.
in Q1 2022, Shopify generated $1.2 billion US dollars in revenue.
This equates to a compound annual growth rate of 60% in a couple of years.
Here is the overview of Shopify’s revenue
|2022 (Q1)||$1.2 Bil.|
Subscription Solutions Revenue
All the fees associated with Shopify membership, POS, sales of applications, themes, and domains fall under this category.
Shopify’s Subscription solution revenue is $344.8 million US dollars as of Q1 2022. In 2021, it was $1342.3 million.
Here is the overview of Shopify’s Subscription Solution Revenue
|2022 (First Quarter Only)||$344.8 Mil.|
Here Is The Breakdown of Shopify’s SSR growth.
Merchant Solution Revenue
Payment processing fees, Referral fees, advertising generated revenue & POS hardware sales make up this category.
Shopify’s merchant solution revenue for the first quarter of 2022 is $858.9 million.
This number was $3,269.5 million last year.
Here is the overview of Shopify’s MSR growth
|2022 (First Quarter Only)||$858.9 Mil.|
Here is the overview of MSR’s share in Shopify’s total revenue
Shopify Revenue as per Region
Shopify generated $2.15 billion US dollars in revenue from the USA, Canada, and Mexico accounting for 73.3% of total sales.
$780 million is generated outside of the North American region.
|North America||$2.15 Bil.|
|APAC + China||$292.24 MIl.|
|Region||Share of Revenue|
|APAC + China||10%|
Popular Categories on Shopify
Fashion is the most popular category on Shopify, with over 105,636 stores selling it. Apparel is the second most popular category with around 84,549 stores. Followed by jewelry and Bags.
Here is an overview of Shopify’s most popular categories.
|Category||Number of Shops selling it.|
|Groceries and Food||26,9177|
Shopify Application Stats
The Shopify app store contains 7000+ applications in a variety of categories to assist businesses in customizing their stores.
Here is the overview of Shopify apps over the years
|2021 (Quarter 1 + Quarter 2)||7,000|
Every day, Shopify has 2.1 million active users.
Saturdays/Sundays and vacations are peak times for Shopify.
The majority of Shopify Orders Come from Smartphones
This should serve as a wake-up call to all brands to make their websites responsive.
You may lose a lot of orders if buyers dislike your user interface or find it difficult to use on a smartphone.
Shopify gets a great number of referrals
Shopify receives a lot of referrals, which is a good sign for any e-commerce platform.
During 2019-2020, Shopify received over 26,000 referrals.
Over 50% of Shopify stores Receive Recurring Customers
Shopify customers carry out at least one more purchase on the platform after the initial purchase.
It is 3.8% possible that Shopify customers choose to shop from a shop that they have purchased from before.
Use 3D images on Shopify
When using 3D product images on Shopify, conversions can be increased by up to 250 times.
Conclusions: Shopify Statistics (2023)
This is it, folks! My comprehensive list of Shopify statistics as of May 2023. I have included all the updated statistics that I could find. I will keep updating this space with all the latest happenings around Shopify. If you have any other interesting facts and figures to share, feel free to do so in the comments below.