Shopify Statistics — Stores, Merchants & Revenue (2024)

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, Shopify’s total revenue stands at $4.9 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 to In 2024.

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.

Top Shopify Statistics For 2024

  • There are 4.80 million websites powered by Shopify across 175 countries.
  • 62% of Shopify stores are based in the United States.
  • There are 1.75 million Shopify merchants.
  • Shopify has registered a revenue of $4.9 billion in the first three quarters of 2023.
  • Shopify sellers will have over 700 million buyers in 2024.
  • Shopify’s Custom Theme is the most used Shopify theme, with over 12.7K stores using it currently.
  • Over 8000 applications are available in the Shopify app store.
  • Shopify processed $79.5 billion in order value in 2022.
  • Shopify’s market cap as of January 2024 is $94.81 billion.
  • Shopify has a workforce of more than 7,000 people.

How Many Shopify Stores Are There?

Shopify is used by 4.80 million live online stores as of January 2024. If we take a look at the total number of websites that have used Shopify to date, then the number is 7.34 million. Most users start with the Shopify free trial to create their online store on the platform.

Around 60.41% of domains are enrolled under Shopify in the USA alone. The United Kingdom and Australia make it to the second and third spots.

Number of Shopify stores by Nations.

This table shows Shopify users by country as of 2024:

CountryNumber Of Live Shopify Stores
United States2,907,545
United Kingdom204,754
Australia151,151
Brazil147,466
Germany121,365
Canada109,494
.co84,596
France65,540
India58,771
Netherlands48,942

Source: BuiltWith

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 48,426 Shopify Plus stores across 175 countries as of January 2024.

The United States has the most Shopify Plus stores (27,308 stores).

Here is a table showing the countries with the most Shopify Plus stores:

CountryShare of Shopify + Stores
USA56.39%
UK6.84%
AU5.88%
CA5.69%
Shopify Plus Store Statistics

Here is the overview of Shopify Plus Stores by Nation:

CountryNumber of Shopify Plus Stores
United States18,767
United Kingdom2,161
Australia1,972
Canada1,847
Germany738
France721
Japan322
Denmark314
Netherlands307
India295

Source: BuiltWith

Shopify Merchant Statistics

There are 1.75 million active merchants selling using Shopify.

With a count of 875,000, The U.S.A. accounts for 50% of the total Shopify merchants currently.

Infographic showing world regions with the most share of Shopify merchants in 2023.

Here is a table showing the share of Shopify merchants in different world regions:

World RegionNumber of Shopify MerchantsShare of Shopify Merchants
U.S.A.875,00050%
Europe, Middle East & Africa437,28225%
Asia Pacific & China262,46015%
Canada105,1366%
Latin America70,1114%

Shopify Customer Statistics

It is predicted that Shopify sellers will have over 700 million customers in 2024.

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 2024.

Shopify Customer Statistics

Here is the complete overview of Shopify customers over the years:

YearBuyers
201428 million
201557 million
2016100 million
2017163 million
2018216 million
2019300 million
2020457 million
2021572 million
2022649 million
2023700 million

Shopify GMV (Gross Merchandise Volume)

Shopify’s gross merchandise volume is $160.8 billion as of the first three quarters of 2023.

Shopify’s GMV was $197.3 billion in complete 2022.

Infographic showing Shopify's GMV (Gross Merchandise Volume)

Here is the overview of Shopify’s GMV over the years:

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$197.3 Billion
2023 (As of Q3)$160.8 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 Financial Statistics (For The 3rd Quarter of 2023)

  • Shopify’s revenue increased by 25% yoy to $1.7 billion in the third quarter of 2023.
  • Shopify’s Monthly Recurring Revenue grew to $141 million.
  • Subscription Solutions revenue increased by 21% year on year to $486 million.
  • Merchant Solution’s revenue increased by 24% to $1.2 billion.
  • Gross profit increased by 36% year on year to $901 million.
  • The operating loss for the third quarter of 2023 was $122 million.

Shopify Revenue Statistics

Shopify registered a revenue of $4.9 billion in the first three quarters of 2023. Shopify consistently generated a revenue of $1.7 billion in the past couple of quarters.

Shopify generated a total of $5.6 billion in revenue in 2022.

This equates to a growth of 21% as compared to 2021.

Shopify Revenue Statistics

Here is the overview of Shopify’s revenue over the years:

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$5.6 Billion
2023 (As of Q3)$4.9 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 $1.31 billion in the first three quarters of 2023.

Shopify’s Subscription Solution Revenue was $1.5 billion in complete 2022.

Shopify Subscription Solutions Revenue

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 $1.34 Billion
2022$1.5 Billion
2023 (As of Q3)$1.31 Billion

Here Is The Breakdown of Shopify’s Subscription Solution Revenue growth:

YearGrowth %
201280.98%
201376.3%
201463.48%
201554.56%
201648.44%
201746.05%
201843.46%
201940.65%
202031.01%
2021 48%
202211%

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 three quarters of 2023 was $3.6 billion.

Shopify Merchant Solution Revenue

Here is the overview of Shopify’s Merchant Solution Revenue 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$4.1 Billion
2023 (As of Q3)$3.6 Billion

Here is the overview of Merchant Solutions Revenue’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%
202273.21%
Infographic showing Merchant Solutions Revenue’s share in Shopify’s total revenue

Bonus: If you want to start your online store, then you should get started with Shopify, and you can get up to 25% off on Shopify with our exclusive discount offer.

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:

RegionRevenue
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:

RegionShare of Revenue
North America73.3%
Europe, Middle East & Africa15.5%
Asia Pacific & China10%
Latin America1.2%
share of Shopify's revenue in different regions of the world

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 Market Capitalization
YearMarket capChange
2024$94.81 Billion25.70%
2023$75.42 Billion70.82%
2022$44.15 Billion-74.26%
2021$171.57 Billion24.86%
2020$137.41 Billion198.61%
2019$46.01 Billion200.74%
2018$15.30 Billion52.39%
2017$10.04 Billion163.81%
2016$3.80 Billion85.25%

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 are available in only 23 countries.

Here is the list of countries where Shopify Payments is available

  • Australia
  • Austria
  • Belgium
  • Canada
  • Czechia
  • Denmark
  • Finland
  • France
  • Germany
  • Hong Kong SAR
  • Ireland
  • Italy
  • Japan
  • Netherlands
  • New Zealand
  • Portugal
  • Romania
  • Singapore
  • Spain
  • Sweden
  • Switzerland
  • 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.

Infographic showing the most popular categories on Shopify

Here is an overview of Shopify’s most popular categories as of 2023:

CategoryValue
Fashion116,045
Apparel91,948
Jewellery77,874
Bags47,424
Shoes38,538
Women’s Clothing36,541
Makeup34,005
Home Decor33,391
Fitness31,464
Coffee29,821

➤ Checkout our complete guide on how you can start selling on Shopify.

Shopify Application Statistics

Shopify Apps Homepage

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.

Overview Of Shopify Apps Over The Years

Here is the overview of Shopify apps over the years

YearShopify Apps
2015900
20161,400
20172,300
20182,500
20193,700
20206,000
20217,000
2022No Data Available
2023Over 8,000

Shopify Daily Active Users

Shopify stores get over 2.1 million daily active users in 2024.

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.

Related Read:

Sources

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top