Shopify Statistics: Empowering Businesses with Actionable Data

The Shopify e-commerce platform has come a long way since its inception in Canada in 2006 as a snowboarding equipment webshop. Today, it's used by over 4 million websites around the world, and it offers over 7,000 applications in its App Store to support merchants.

So, Shopify certainly appears to be successful. But the devil's always in the detail. For instance, how well does Shopify work for online businesses? Is Shopify profitable? How many merchants use it? And how much revenue is it making?

You'll find the answers to these questions and more in this article. Let's dive in.

Key Shopify Statistics For 2023

1. There are more than 4.1 million Shopify-powered websitesaround the world.
2. Shopify has a presence in over175 countries, with the US being its biggest market, with over 2.5 million stores.
3. 87% of Shopify merchants use Shopify Apps, with the average merchant using six apps in their store.
4. The app Product Reviews, which allows merchants to add reviews to their online store, is the most downloaded Shopify app to date, withover 550,000 installs.
5. Shopify's total revenue in 2022 amounted to almost$5.6 billion.

Shopify Growth Statistics

BuiltWith tells us that there are more than 4.1 million Shopify-powered websiteslive around the world today. Over 500,000 of them are in the apparel category.

Let's take a closer look at how these figures came to be.

Steady Growth in the Number of Shopify Stores

Source: Statista

The 4.1 million live Shopify-powered websites, or Shopify stores, represent over 100% growth in a two-year period. Over 2.5 million Shopify storeshave been set up in the last two years, largely as a result of businesses diversifying their services in response to the Covid-19 pandemic.

Businesses are seeing a wave of technological change, with novel services like virtual cards for online businesses on offer - and Shopify is now just as important for vendors as having thebest CRMs for e-commerce in place.

Increasing Revenue Generation

Source: Statista

According to BuiltWith, there are now more than 160 Shopify stores with revenue of more than $1 million.

Shopify's Gross Merchandise Volume (GMV) statistics, which show sales volume across all merchant stores excluding shipping and taxes, tell us that the fourth quarter of 2021 was the best so far in terms of merchant revenue, withover $54 billion turned over worldwide and growth of 25.6%.

The GMV dipped in the following quarterby 22.4% but grew again in Q2 and Q3 of 2022 by6.7%.

Advancements in Data Analytics & Insights

Shopify's advancements in data analytics enable merchantsto delve deeper into their data and make informed decisions. For example, the Shopify Analytics function showcases the store's recent activity and provides visitor insights and transaction insights.

Shopify's plans come with different analytics options, and there are also a number of apps, such as Advanced Reporting & Analytics, launched in 2022, that provide additional metrics. Apps like Seery use AI and ML to forecast sales and track key KPIs.

Continued Global Market Expansion

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Shopify has a presence in over175 countries, with the US being its biggest market. However, its second-biggest market is the UK - more than 180,000 live Shopify stores have been created in the British Isles.

The platform has also been popular in other markets, especially LATAM. Brazil has over 120,000 Shopify stores, andMexico has over 17,000.

Shopify's adoption in Asia has been considerably slower than in other regions. For example, China is the world's biggest e-commerce market, but it only has8,000 live Shopify stores.

However, Shopify's Asian market is poised to grow, thanks to its 2022 partnership with aCommerce, which is enabling Shopify's launch in the Philippines, Indonesia, and Thailand.

Number of Shopify Stores

Since its inception, over 6.5 million stores have been created on Shopify, and it's used by over4.1 million websites today.

Let's take a closer look at Shopify stores' statistics around the world.

Regional Distribution of Shopify Stores

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As you can see, the US has the lion's share of live websites powered by Shopify - with over 2.5 million. The UK has just over 180,000 and Australia over 130,000. The smallest number of Shopify stores are in Sint Maarten and San Marino, which have 5 Shopify-powered websites each.

Market Share Comparison

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As you can see, Shopify dominates the market in the US and Canada. In Nordic countries like Sweden and Denmark, meanwhile, Shopify is the market leader with a25% and 30% share, respectively.

However, the situation is a little different in some European countries.For example, WooCommerce Checkout has the largest market share of ecommerce platformsin the Netherlands and the UK.

Shopify App Statistics

Shopify has its own app store, where merchants can download apps to power up their Shopify-enabled offerings and customize their stores.

These apps can add value by enabling sales, marketing, order fulfillment, and store management. So it's no surprise that 87% of Shopify merchants use them, with the average merchant using six apps in their store. Let's take a closer look at them.

Number of Apps in the Shopify App Store

Since the inception of the Shopify app store in 2015, when it had 900 apps, it has experienced 10x growth. According to Shopify's February 2023 annual report, over 10,000 apps were available in the Shopify app store as of December 2022. That figure represents a growth of over 30% from 2021.

Top Categories of Shopify Apps

It's no surprise that marketing and sales apps are some of the most popular apps on Shopify, as they're integral to driving purchases and engagement and keeping track of the store's analytics.

Here's an overview of the categories and subcategories of Shopify apps, as well as some of the top apps in each category:

Category	Subcategories	Top apps
Finding Products	Dropshipping Print on demand Buying wholesale Product Sourcing	DSersAliExpress Dropshipping Zendrop Automizely
Orders & Shipping	Order fulfillment Order management Inventory management Delivery & Pick-ups	EasyRoutes Delivery Free Shipping Bar
Marketing & Conversion	Email marketing Advertising SEO Upselling & cross-selling Cart modification Promotions Direct marketing Content marketing Cart recovery	Bulk Discount Code Bot Google Channels Tidio
Selling Products	Sales channels Purchase options Product variants Pricing Digital products Product display Gifts Blockchain	Crowdfunder Stage TEN
Store Design	Social proof Internationalization Store Pages Store alerts Navigation & search Notifications Images & media Page enhancements	Loox Warnify
Store Management	Support Analytics Security Accounts Operations Store Data Finances	Matrixify

Most Downloaded Shopify Apps

Source: Store Leads

According to Store Leads, the app Product Reviews, which allows merchants to add reviews to their online store, is the most downloaded Shopify app to date, withover 550,000 installs.

Here is an overview of the most downloaded active Shopify apps in different categories:

Category	App	Number of installs	Average rating
Internationalization	Geolocation	406,920	2.3
Email/SMS Marketing	Klaviyo: Email Marketing & SMS	274,471	3.8
Content Marketing	Instafeed Instagram Feed	117,090	4.9
Customer Service	Shopify Inbox	355,615	4.4
Dropshipping	DSersAliExpress Dropshipping	168,573	5
Order Tracking	17TRACK Order, PayPal Tracking	94,929	5
Store Design	PageFly Landing Page Builder	66,897	4.9
Social Proof	[Maestrooo] Section Feed	27,473	4.4

User Ratings & Reviews

The average review rating for Shopify apps is2.96, with a median score of 4.The situation is worse for free Shopify apps, which have a median score of 2.7, though this may be affected by the fact that they get fewer reviews.

Despite being much used, the top Shopify apps listed above do not all have high ratings. Part of the reason for this may be that very few users actually leave reviews, and an average user is more likely to leave a negative review than a positive one.

Shopify Revenue Statistics

Source: Statista

But how is Shopify doing financially?

Until Q4 of 2021, it was generating a positive net income, having made over $1.25 billion in Q1 of that year - its best quarter in the last three years. However, from Q1 2021 to Q4 2022, it was operating at a loss.

Let's take a closer look at Shopify's revenue statistics.

Total Revenue Generated by Shopify

Source: Statista

Although the net income of Shopify dipped in 2022, its total revenue has been growing steadily since 2015. Its total revenue in 2022 amounted to almost $5.6 billion.

Revenue Breakdown by Source

Source: Statista

Shopify's two main sources of revenue are merchant solutionsand subscription solutions.

Merchant solutions helpShopify merchants with their business and include Shopify Payments, Shopify Shipping, and point-of-sale (POS) hardware. Subscription solutionsallow merchants to sell their products on a recurring basis using the Shopify platform.

As of 2022, merchant solutions were the main revenue driver, accounting forover $4.1 billion in revenue that year, or 73% of the total revenue. Subscription revenue amounted to over$1.48 billion, or 27% of overall Shopify revenue that year.

Merchant solutions revenue has been exceeding subscription revenue for the last few years, starting in 2016. In 2021, itaccounted for approximately two-thirds of the overall revenue of approximately $4.6 billion.

Comparison With Previous Years

Source: Shopify

Shopify's revenue in 2022 reached almost $5.6 billion, with merchant solutions making up almost three-quarters of it. This figure represents a 19.3% YoY growth from 2021, when it was $4.6 billion. And revenue for 2021 was almost double Shopify's 2020 revenue of $2.9 billion.

When it comes to 2023 revenue, Shopify's Q1 financial reports tell us that the total revenue of the quarter grewby 25% compared to the same period in 2022, with merchant solutions revenue up by 31%, and subscription solutions revenue up by 11%.

Regional Revenue Distribution

Most of Shopify's revenue comes from the North American region, according to Business Quant.

Here's an overview of Shopify revenue statistics by region as of 2022:

Region	Revenue, USD	Percentage of the overall revenue
North America	2.15 billion	73.3%
EMEA	454.27 million	15.5%
APAC	292.24 million	10%
LATAM	36.16 million	1.2%

Impact Of Covid-19 on Revenue

Digital transformation induced by the COVID-19 pandemic has impacted all industries, and e-commerce has been significantly affected.

Major e-commerce players like Shopify experienced huge growth as more consumers shopped online and more businesses looked for ways to adjust to changed marketplace conditions by engaging in e-commerce.

As a result, Shopify saw high growth in its revenue figures for 2020 and 2021 compared to 2019. Regarding net income, Q1 to Q3 of 2021 was the most successful period so far for Shopify.

However, like many tech players, Shopify was affected by post-pandemic consumer behavioral changes and operated at a loss for the entirety of 2022, resulting in a wave of layoffs. The company's revenue has regained some of these losses in Q1 of 2023.

What's Next for Shopify?

Today, Shopify is much more than an e-commerce store. With the rise of e-commerce and demand for seamless digital experiences, Shopify is well-positioned to thrive in the coming years.

One of the reasons for that is Shopify's user-friendly interface and customization options. Shopify provides a robust and intuitive platform that empowers businesses to establish and scale their e-commerce presence.

As more businesses recognize that e-commerce isn't going anywhere, and with more consumers preferring online shopping to traditional retail, the demand for Shopify's merchant and subscription solutions is expected to grow.

With its interface, integrated payment gateways, and extensive App Store, Shopify is an attractive choice for businesses looking to tap into the e-com market.

Shopify's user base is also expected to continue to expand, with more businesses adopting the platform to launch e-commerce stores. Additionally, Shopify revenue is expected to experience substantial YoY growth, driven by increased subscription fees and expansion of merchant solutions suites and apps.

References

• 11 Best Shopify App Store Statistics [2023] (ShopThemeDetector)
• 11 Top Apps in the Shopify App Store (Shopify)
• 23 Essential Shopify Statistics You Need to Know in 2023 (TheSocialShepherd)
• Leading e-commerce platforms in Denmark as of March 2023, by market share (Statista)
• Market share of e-commerce software platforms in Brazil as of June 2023 (Statista)
• Market share of e-commerce software platforms in Canada as of June 2023 (Statista)
• Market share of e-commerce software platforms in Germany as of June 2023 (Statista)
• Market share of e-commerce software platforms in the Netherlands as of April 2022 (Statista)
• Market share of e-commerce software providers in the United Kingdom (UK) as of June 2023 (Statista)
• Market share of e-commerce software platforms in United States as of June 2023 (Statista)
• Number of Shopify stores globally triples during the pandemic (Genus Artificial Intelligence)
• Shopify analytics (Shopify)
• Shopify Company Info (Shopify)
• Shopify gross merchandise value (GMV) in the United States from 2020 to 2024 (Statista)
• Shopify has new partners in China and Southeast Asia (Tech Wire Asia)
• Shopify Inc. Form 40-F (United States Securities And Exchange Commission)
• Shopify Now Powers Over 500,000 Businesses in 175 Countries (Shopify)
• Shopify's net income/loss worldwide from 2015 to 2022 (Statista)
• Shopify Statistics For 2023: Facts, Data & Revenue (GrowthDevil)
• Shopify Statistics - Stores, Revenue & Facts (2023) (DemandSage)
• Shopify's Revenue by Region (2015-2022) (BusinessQant)
• Shopify's total revenues worldwide from 2015 to 2022 (Statista)
• Shopify Usage Statistics (BuiltWith)
• Usage distribution of e-commerce platforms in Sweden as of March 2023 (Statista)
• Websites using Shopify Shopify (BuiltWith)
• Websites using Shopify with estimated $1m+ Sales Revenue (BuiltWith)
• Why People Are More Likely To Leave A Negative Review Than A Positive Review (RizeReviews)

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