50+ Shopify Statistics 2023: Impressive Facts and Insights

In the fast-paced world of e-commerce, Shopify has emerged as a leading platform for businesses of all sizes to build and manage their online stores. With its user-friendly interface, robust features, and extensive app ecosystem, Shopify has gained immense popularity among entrepreneurs and established brands alike.

Shopify is a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. It provides everything a business needs to sell online, including a website builder, payment processing, shipping, marketing, and customer support. Shopify is one of the most popular e-commerce platforms in the world, with over 1 million merchants using it to sell their products and services. In this article, we’ll talk about 50+ Interesting Shopify Statistics and facts that you must know.

Shopify Statistics 2023:

At its core, Shopify is an all-in-one e-commerce platform that helps entrepreneurs and businesses set up, run, and grow their online stores. It has an easy-to-use interface, templates that can be changed, safe payment gateways, and a variety of tools to optimize the e-commerce experience.

The rise of Shopify has been nothing short of amazing. Since starting in 2006, it has grown rapidly, changing how businesses sell things online. The platform’s easy-to-use layout and powerful features have drawn in millions of businesses, which has led to its wide use.

Shopify Latest Statistics

Here are some key Shopify statistics for 2023:

  • Over 1 million merchants are using Shopify to sell their products and services.
  • Shopify processed $79.5 billion in gross merchandise volume (GMV) in 2022.
  • Shopify’s revenue was $5.6 billion in 2022, up 57% from the previous year.
  • Shopify is used in over 175 countries around the world.
  • The most popular Shopify markets are the United States, Canada, the United Kingdom, and Australia.
  • The average Shopify store generates $226 in revenue per customer.
  • The top 10% of Shopify stores generate $1,000 or more in revenue per customer.
  • Shopify is the most popular e-commerce platform for small and medium-sized businesses.

1. Some General Facts:

Shopify came out in June 2006, jointly made by three founders, Tobias Lütke, Daniel Weinand, and Scott Lake, who all had big ideas. Because they weren’t happy with the available e-commerce platforms for their snowboarding equipment business, they set out to build their own innovative business.

In May 2023, 17 years later, Shopify has grown into a public company that is owned by a wide range of shareholders. In April 2015, the company filed for an Initial Public Offering (IPO), which was its first step into the public market.

Institutional investors make up more than 66% of Shopify’s shareholders. Baillie Gifford (with 5.32% of shares) and Morgan Stanley (with 5.20% of shares) are two of the most well-known names in this group of shareholders. Shopify shares are owned by 1,400 different groups, which is pretty impressive. Only 0.19% of the shares are owned by people who work for the company. Tobias Lütke, the founder and CEO of Shopify, still owns about 6% of the company, which shows how committed he is to its success.

See also  Facebook Statistics 2023: Users, Growth & Facts

According to Forbes, Tobias Lütke’s income is more than a staggering $5.6 billion, showing his exceptional achievements. Also, Lütke has much power within the company because he has 40% of the voting power through a non-transferable ‘founder share’ structure.

Shopify shareholders approved this at the June 7, 2022, annual general meeting. This strategy plan ensures that Lütke will continue to help shape the company’s future.

2. Some Interesting Facts About Shopify:

We all know that Shopify is one of the most prevalent e-commerce websites worldwide. But you might not know these below facts.

  • Shopify was made by three Canadian friends in 2006 and launched in the market in the same year.
  • As of January 2023, more than 4.5 million live websites were run by Shopify.
  • The official Shopify app store has over 8000 apps, giving online stores more functions and features.
  • Shopify launched YouTube shopping at Shopify Unite 2022. This will bring shopping, content, and community together.
  • With a market share of 30% and over 2.5 million websites built on it, Shopify is the most popular eCommerce platform in the United States.
  • Shopify Plus is being used by more than 25,000 live sites right now.
  • In the year 2021, Shopify made more than $4.6 billion in sales.
  • Shopify added $319 billion to the Global economy.
  • The average cost of a Shopify order is $84.

What’s Shopify’s Market Share?

You must have wondered how famous and popular Shopify is.  If we look at the numbers, Shopify is one of the most popular eCommerce platforms in the world. WooCommerce Checkout is at the top of the list, and Squarespace is in second place. Shopify stands in fourth place with almost 10% market share.

Shopify Market Share

The statistics for eCommerce platforms show that Shopify and Shopify Plus together have 11.2% of the market share. This means that 1 in 10 eCommerce stores are made on Shopify.

Active Users Of Shopify:

Shopify boasts a vast and continuously growing user base. As of January 2023, the number of active users on the platform has surpassed 2.1 million per month. This statistic demonstrates the trust and confidence entrepreneurs and businesses place in Shopify for their online store needs.

How Does Shopify Make Money?

Shopify generates revenue through two primary avenues. Firstly, it levies a monthly or yearly charge from users who opt for one of its subscription plans. Secondly, it imposes fees upon merchants for an extensive array of elective e-commerce functionalities and services. In the financial parlance employed by Shopify, these two sources of revenue are denoted as ‘subscription solutions’ and ‘merchant solutions’ correspondingly. Here are some numbers regarding Shopify revenue.

  • Approximately 25% of Shopify’s total revenue is derived from subscriptions. In the initial quarter of 2023 alone, the revenue from subscriptions reached $382 million, showcasing an 11% surge compared to 2021.
  • The revenue from ‘merchant solutions’ stems from the sales of diverse e-commerce tools and services, encompassing merchant payment services, currency conversion, shipping, point-of-sale software/hardware, business loans, applications, customizable themes tailored for Shopify, and domain names.
  • Shopify levies a charge of 15% on the revenue earned by theme store developers and app developers once they surpass a threshold of $1 million in sales within the Shopify app store.
  • An impressive portion of Shopify’s revenue, accounting for over two-thirds or 75% of its overall earnings, is attributed to transaction fees, payment processing fees, and other merchant services. This revenue stream amounted to $1.126 billion in the first quarter of 2023, marking a notable 31% increase compared to the previous year.
See also  100+ Roblox Statistics (2023) - Users, Growth & Facts

How Many Shopify Stores Are There In The World?

More than 4.4 million active websites are operating on the Shopify platform, with over 25,000 live sites utilizing Shopify Plus. Interestingly, a staggering 2.5 million stores originate from the United States alone.

This statistic highlights the significant presence of U.S.-based Shopify stores, with approximately one-third of all Shopify establishments hailing from this region. Such impressive numbers reflect the immense trust bestowed upon Shopify as an eCommerce platform by countless businesses worldwide.

Whether they are small-scale merchants or prominent brands, Shopify holds a special place in the hearts of entrepreneurs. Renowned companies like Redbull, BBC, Gymshark, Hasbro, Nescafe, Staples, and even Tesla have recognized Shopify’s immense value and chosen to make it an integral part of their business.

How Much Does Shopify Cost?

There are 5 different plans for Shopify. Small businesses can buy these according to their needs. Here are all of them explained.

Shopify Price
  1. Shopify Starter: This plan is available at an affordable rate of $5 per month.
  2. Basic Shopify: The Basic Shopify plan is priced at $39 monthly for those seeking a comprehensive yet cost-effective solution.
  3. Shopify: With a broader range of features, the Shopify plan is priced at $105 monthly.
  4. Advanced Shopify: Businesses requiring advanced functionalities can opt for the Advanced Shopify plan, which is available monthly for $399.
  5. Shopify Plus: This premium plan offers various customizable options and enterprise-grade solutions. While the pricing is negotiable, it typically amounts to approximately $2,000 monthly.

It’s important to note that these prices are subject to change, and it’s recommended to visit the official Shopify website for the most up-to-date and accurate pricing information.

Shopify Plus Statistics:

In 2014, Shopify introduced Shopify Plus, a specialized branch with a wealth of advanced features and functionalities tailored to accommodate the requirements of larger businesses and esteemed brands engaged in robust eCommerce operations. Top-tier brands and enterprises selectively utilize this exclusive platform.

At present, the number of active sites utilizing Shopify Plus exceeds an impressive count of 25,000. This statistic attests to the widespread adoption of Shopify Plus among businesses seeking a comprehensive and scalable solution to power their online ventures.

Number of Shopify Plus Stores by Countries
CountryShopify Plus Stores
United States of America15380
United Kingdom2160
Australia1298
Canada1370
Germany982
Italy512
Netherlands420
France410
Denmark343
New Zealand258

Shopify Store Statistics:

As of April 2023, 4.15 million online e-commerce stores use Shopify. And these websites that we are talking about are live websites. If we look at the total number of websites that have used Shopify so far, there are 6.45 million of them.

Out of the total number mentioned above, the US alone has 70% of the domains enrolled under it. The United Kingdom and Australia follow this. Here’s the list of Shopify stores in different countries.

CountryOnline Businesses That Use Shopify
United States of America2,653,014
The United Kingdom178,882
Australia128,470
Brazil105,105
Germany101,741
Canada100,988
.co websites68,870
France55,370
India39,439
Netherlands38,697
Italy35,591
New Zealand23,250

Shopify Customers Statistics:

A business is built by its customers. In the year 2022, an impressive number of approximately 649 million individuals purchased from Shopify stores. Looking ahead to 2023, projections indicate a further increase in customer base, with Shopify merchants expected to cater to over 700 million customers.

To provide a broader context, it is worth noting that as of 2023, the overall online shopping population stands at a substantial figure of 2.14 billion people. Here’s a table to showcase the customers that bought on the platform over the years.

YearBuyers
201428 million
201557 million
2016100 million
2017163 million
2018216 million
2019300 million
2020457 million
2021572 million
2022649 million
2023 (Predicted)700 million

Which Businesses Use Shopify The Most?

Shopify is a highly adaptable and versatile eCommerce platform catering to businesses across various industries. It hosts a diverse array of online stores, accommodating a wide range of products and services, including but not limited to apparel, pets, and animals. Here’s a table showcasing the various businesses that use Shopify in their business.

Top Business Verticals Using Shopify
Business CategoryThe number of Shopify Stores (Approx.)
Fashion100,806
Apparel81,666
Jewellery73,573
Bags45,034
Shoes36,531
Makeup35,539
Women’s Clothing33,298
Home Decor30,229
Fitness26,240
Groceries and Food26,195
Coffee25,855
Bed and Bathroom22,285
Kitchenware21,856
Furniture21,839
Skincare17,341
Nutrition17,253

Shopify Merchant Statistics:

Shopify Merchants are businesses or individuals that use Shopify in their business. Here are some interesting facts about Shopify merchants.

  • Shopify merchants sell over 1 billion products worldwide.
  • Shopify merchants ship to over 200 countries and territories.
  • Shopify merchants accept over 100 different payment methods.
  • Shopify merchants use over 7,000 apps from the Shopify App Store.
  • Shopify merchants have access to a team of over 1,000 support professionals.

How to Use Shopify To Grow Your Business?

Shopify is a great choice for businesses of all sizes. Shopify is a great option if you’re looking for a powerful, easy-to-use, and scalable e-commerce platform. Here are some tips for using Shopify to grow your business:

  • Choose the right plan for your business. Shopify offers a variety of plans to fit different budgets and needs.
  • Design a beautiful and user-friendly website. Your website is your storefront, so making it look good and easy to use is important.
  • Add products that your customers want to buy. Do your research to find products that are in demand and that you can sell at a profit.
  • Market your store. Let people know about your store through online and offline marketing channels.
  • Provide excellent customer service. Ensure your customers are happy with their purchases by providing excellent customer service.

Conclusion:

These were some unknown and interesting facts and Shopify statistics. Shopify is a great way to improve and grow your business. Just started by three college students in 2006, it has become a go-to marketplace for many customers. Refer to these Shopify statistics to know more about the business.

Leave a Comment