Shopify Statistics 2022: Revenue, Facts & Trends

Shopify Statistics - DemandSage

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 2022. Read them below to know more.

Shopify Statistics At a Glance 2022

This is basically the key Shopify statistics in a nutshell.

Shopify Statistics - Overview
Shopify
  • 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.

Store Statistics

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.

CountryOnline Businesses
United States of America2,607,764
The United Kingdom170,019
Australia121,802
Canada98,754
Germany93,689
Brazil75,607
.co websites66,367
France53,858
India38,697
Netherlands36,180
Italy32,000
New Zealand21,979

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.

CountryShare of Shopify + Stores
USA60%
UK8%
AU5%
CA5%

Here is the overview of Shopify + Stores by Nation

CountryNumber of Shopify Plus Stores
USA15380
UK2160
AU1298
Canada1370
Germany982
Italy512
Netherlands420
France410
Denmark343
New Zealand258

Merchant Statistics

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

RegionShare of Merchants
USA50%
EMEA25%
APAC + China15%
Canada6%
LA4%
RegionNumber of Merchants
USA875,000
EMEA437,282
APAC + China262,460
Canada105,136
LA70,111

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

YearBuyers
201428 million
201557 million
2016100 million
2017163 million
2018216 million
2019300 million
2020457 million

Shopify GMV

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

YearShopify GMV
2012$707.4 Million
2013$1.62 Billion
2014$3.76 Billion
2015$7.7 Billion
2016$15.37 Billion
2017$26.32 Billion
2018$41.1 Billion
2019$61.14 Billion
2020$119.58 Billion
2021$175.4 Billion
2022 First Quarter only$43.2 Billion

Shopify Financial Statistics (As of Q3 2022)

  • Shopify’s revenue increased by 22% to $1.4 billion compared to the previous year in the third 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 is $107 million, it is up by 8% compared to the subsequent year.
  • Subscription Solutions revenue increased by 12% year on year to $376.4 million.
  • Merchant Solution’s revenue increased by 26% to $989.9 million.
  • Gross profit dollars increased by 9% year on year to $662.3 million.
  • The operating loss for the third quarter of 2022 was $345.4 million.
  • Shopify’s net loss for Q3 2022 is $158.4 million.
  • Shopify had $4.9 billion in cash, cash equivalents, and marketable securities as of September 2022.

Revenue Statistics

As of the first three quarters of 2022, Shopify generated $1.4 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

YearRevenue
2012$23.71 Million
2013$50.25 Million
2014$105.02 Million
2015$205.23 Million
2016$389.33 Million
2017$673.3 Million
2018$1.07 Billion
2019$1.58 Billion
2020$2.93 Billion
2021$4.61 Billion
2022 (Till Q3)$3.9 Billion

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 $376.3 million U.S. dollars as of Q3 2022.

Here is the overview of Shopify’s Subscription Solution Revenue over the Years:

YearRevenue
2012$19.2 Million
2013$38.34 Million
2014$66.67 Million
2015$111.98 Million
2016$188.61 Million
2017$310.03 Million
2018$465.00 Million
2019$642.24 Million
2020$908.76 Million
2021 $1,342.3 Million
2022 (Till Q3)$1,087.5 Million

Here Is The Breakdown of Shopify’s SSR growth.

YearGrowth %
201280.98%
201376.3%
201463.48%
201554.56%
201648.44%
201746.05%
201843.46%
201940.65%
202031.01%
2021 48%

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 third quarter of 2022 is $989.9 million.

This number was $3,269.5 million last year.

Here is the overview of Shopify’s MSR growth

YearRevenue 
2012$4.51 Million
2013$11.91 Million
2014$38.35 Million
2015$93.25 Million
2016$200.72 Million
2017$363.27 Million
2018$608.23 Million
2019$933.93 Million
2020$2.02 Billion
2021$3.26 Billion
2022 (Till Q3)$1.78 Billion

Here is the overview of MSR’s share in Shopify’s total revenue

YearGrowth %
201219.02%
201323.7%
201436.52%
201545.44%
201651.56%
201753.95%
201856.54%
201959.35%
202068.99%
202162%

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.

RegionRevenue
North America$2.15 Billion
EMEA$454.27 Million
APAC + China$292.24 Million
LA$36.16 Million
RegionShare of Revenue
North America73.3%
EMEA15.5%
APAC + China10%
LA1.2%

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.

CategoryNumber of Shops selling it.
Fashion105,636
Apparel84,549
Jewelry74,993
Bags49,380
Shoes40,149
Makeup38,321
Women Clothing34,997
Home Decor28,837
Fitness28,822
Groceries and Food26,9177

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

YearShopify Apps
2015900
20161,400
20172,300
20182,500
20193,700
20206,000
2021 (Quarter 1 + Quarter 2)7,000

Shopify DAUs

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.

Shopify Predictions for Quarter 4, 2022

Shopify releases quarterly report and in every quarterly report they give out expectations for the next quarter.

Lets have a look at the predictions for the fourth quarter of 2022 in this section.

  • In comparison to Q3, Shopify anticipates that operational expenditures to increase more slowly in Q4.
  • Thanks to Shopify’s omnichannel capabilities, Gross Merchandise Value growth will continue to outpace the overall U.S. retail industry in the fourth quarter.
  • For the whole year 2022, the revenue growth of Merchant Solutions will outpace that of Subscription Solutions by a factor of more than two.

Related Read:

Conclusions: Shopify Statistics (2022)

This is it, folks! My comprehensive list of Shopify statistics as of May 2022. 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.

Sources

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