Established in 2006, Shopify is a one-stop solution that assists digital sellers in starting, running, and growing their online stores. It is specifically designed for anyone who owns or wants to own an eCommerce business.
Shopify has generated over $700 billion in sales since its inception.
Currently (As of Q2 2023), Shopify’s total revenue stands at $3.20 billion, and its market share is 25% of the global e-commerce platform market.
Experts predict that Shopify merchants will have over 700 million customers to cater in 2023.
Bonus: Here’s a quick read on What is Shopify and how it works.
We will uncover all about Shopify in this statistical guide through numbers. We have included everything from users, and revenue, to the platform’s trends. Let us take you right to it.
Shopify Statistics 2023 (Top Picks)
This section highlights the top statistics that every marketer or vendor should know about Shopify.
- Over 4.36 million websites are currently using Shopify.
- Shopify has registered a revenue of $3.202 billion in the first two quarters of 2023.
- Additionally, Shopify registered a Gross Merchandise Volume of $104.6 billion, Monthly Recurring Revenue of $255 million during the same period.
- Shopify is used in over 175 countries globally.
- Around 62% of Shopify stores are based in the United States.
- Shopify merchants will have over 700 million buyers this year.
- Shopify’s Custom Theme is the most used Shopify theme of all time with 12,752 stores using it currently.
- Over 8000 applications are available in the Shopify app store to assist businesses in customizing their stores.
- Last year Shopify processed $79.5 billion in order value.
- Shopify’s market cap as of August 2023 is $75.42 billion.
- Shopify has a workforce of more than 7,000 people.
- The Shopify Theme Store offers over 100 free and premium themes.
Shopify Store Statistics
Shopify is used by 4.36 million online stores. Here, we are talking about the stores that are live on the Internet. If we take a look at the total number of websites that have used Shopify to date, then the number is 6.95 million.
Around 62% of domains are enrolled under Shopify in the USA, followed by the United Kingdom and Australia.
This table shows the Nations with the most number of Shopify stores:
|United States of America||2,698,604|
|The United Kingdom||191,982|
Shopify 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 32,181 Shopify Plus stores across 175 countries as of 2023.
The United States has the most Shopify Plus stores (18,767 stores).
Shopify Plus is more commonly used by retailers in the United Kingdom.
|Country||Share of Shopify + Stores|
Here is the overview of Shopify Plus Stores by Nation:
|Country||Number of Shopify Plus Stores|
Shopify Merchant Statistics
Shopify has merchants in 175 nations.
With a count of 875,000, the U.S.A. accounts for 50% of the total Shopify merchants currently.
Here is a table showing the share of Shopify merchants by region:
|Region||Share of Shopify Merchants|
|Europe, Middle East & Africa||25%|
|Asia Pacific & China||15%|
Here is a table showing the number of Shopify merchants in different world regions:
|Region||Share of Shopify Merchants|
|Europe, Middle East & Africa||437,282|
|Asia Pacific & China||262,460|
Shopify Customer Statistics
It is predicted that Shopify merchants will have over 700 million customers in 2023.
Nearly 649 million people made a purchase from a Shopify store in 2022 alone.
For an idea, there are 2.14 billion people shopping online as of 2023.
Here is the complete overview of Shopify customers over the years:
|2023 (Predicted)||700 million|
Shopify GMV (Gross Merchandise Volume)
Shopify’s gross merchandise volume is $104.6 billion as of the first two quarters of 2023.
Shopify’s GMV was $197.3 billion in complete 2022.
Here is the overview of Shopify’s GMV over the years:
|2023 (As of Q2)||$104.6 Billion|
Shopify Financial Statistics (For The 1st Quarter of 2023)
- Shopify’s revenue increased by 25% yoy to $1.5 billion in the first quarter of 2023.
- Shopify’s Monthly Recurring Revenue is $116 million, which is up by 10% compared to the subsequent year.
- Subscription Solutions revenue increased by 11% year on year to $382 million.
- Merchant Solution’s revenue increased by 31% to $1.1 billion.
- Gross profit dollars increased by 12% year on year to $717 million.
- The operating loss for the first quarter of 2023 was $193 million.
- Shopify had $4.9 billion in cash, cash equivalents, and marketable securities as of March 31st 2023.
Shopify Financial Statistics (For The 2nd Quarter of 2023)
- Shopify’s revenue increased by 31% yoy to $1.7 billion in the second quarter of 2023.
- Shopify’s Monthly Recurring Revenue grew to $139 million.
- Subscription Solutions revenue increased by 21% year on year to $444 million.
- Merchant Solution’s revenue increased by 35% to $1.3 billion.
- Gross profit increased by 27% year on year to $835 million.
- The operating loss for the second quarter of 2023 was $1.6 billion.
- Shopify had $4.8 billion in cash, cash equivalents, and marketable securities as of June 31st 2023.
Shopify Revenue Statistics
Shopify registered a revenue of $3.2 billion in the first two quarters of 2023.
Shopify generated a total of $5.6 billion in revenue in 2022.
This equates to a growth of 21% as compared to 2021.
Here is the overview of Shopify’s revenue over the years:
|2023 (As of Q2)||$3.2 Billion|
Subscription Solutions Revenue
All the fees associated with Shopify membership, POS, and sales of applications, themes, and domains fall under this category.
Shopify’s Subscription solution revenue was $826 million in the first two quarters of 2023.
Shopify’s Subscription Solution Revenue was $1.5 billion in complete 2022.
Here is the overview of Shopify’s Subscription Solution Revenue over the Years:
|2023 (As of Q2)||$826 Million|
Here Is The Breakdown of Shopify’s Subscription Solution Revenue growth:
Shopify Merchant Solution Revenue
Payment processing fees, Referral fees, advertising generated revenue & POS hardware sales make up this category.
Shopify’s merchant solution revenue in the first two quarters of 2023 was $2.4 billion.
Here is the overview of Shopify’s Merchant Solution Revenue growth:
|2023 (As of Q2)||$2.4 Billion|
Here is the overview of Merchant Solutions Revenue’s share in Shopify’s total revenue:
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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.
Here is a table showing Shopify’s revenue in different world regions:
|North America||$2.15 Billion|
|Europe, Middle East & Africa||$454.27 Million|
|Asia Pacific & China||$292.24 Million|
|Latin America||$36.16 Million|
Here is a table showing the share of Shopify’s revenue in different regions of the world:
|Region||Share of Revenue|
|Europe, Middle East & Africa||15.5%|
|Asia Pacific & China||10%|
P.S. – This data is from 2022. We will update this section as soon as we get our hands on the latest figures.
Shopify Market Capitalization
Shopify Payments Statistics
Shopify Payments is the simplest way to accept payments online. It eliminates the hassle of setting up a third-party payment provider or merchant account and having to enter the credentials into Shopify.
Currently, Shopify payments is available in only 23 countries.
Here is the list of countries where Shopify Payments is available
- Hong Kong SAR
- New Zealand
- United Kingdom
- United States
Popular Categories on Shopify
Fashion is the most popular category on Shopify, with over 102,778 stores selling it. Apparel is the second most popular category with around 105,636 stores. Followed by Apparel and Jewelry.
Here is an overview of Shopify’s most popular categories as of 2023:
|Category||Number of Shops selling it.|
|Groceries and Food||26,897|
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Shopify Application Statistics
The Shopify app store has 8000+ applications in a variety of categories to assist businesses in customizing their stores.
Each Shopify application goes through a 100-checkpoint review before it is released on the Shopify App Store.
Here is the overview of Shopify apps over the years
|2022||No Data Available|
Shopify Daily Active Users
Shopify stores get over 3 million daily active users in 2023.
However, this number can vary depending on the season and days of the week. For example, Saturdays/Sundays and vacations are peak times for Shopify stores.
The majority of Shopify Orders Come from SmartPhones
Over 2 billion people are shopping online globally and most of them are doing it from their smartphones.
This should serve as a wake-up call to all brands to make their websites mobile-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 2021-2022, Shopify received over 35,000 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.
Using 3D Images on Shopify Is Beneficial For Merchants
When using 3D product images on Shopify, conversions can be increased by up to 250 times.
Additional Facts and Figures Associated With Shopify
- Shopify has 270 points of presence around the world that ensure an incredibly fast experience for customers no matter where they shop.
- Merchants are 25% more likely to increase their conversions if they install the Shop channel and add the Shop Promise badge to their store.
- Shopify Free Trial
- Affiliate Marketing Statistics
- Chatbot Statistics
- Spotify Stats
- Shopify vs WooCommerce
Conclusions: Shopify Statistics (2023)
The numbers speak for themselves, These Shopify statistics show that Shopify is a powerful platform that can help businesses of all sizes to start, grow, and manage their online stores. That is why over 4 million businesses trust it for their bread and butter! If you are considering starting an online store too, Shopify is a great option to consider.
So, That is all folks! My comprehensive list of Shopify statistics. 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.