MIND-BLOWING Shopify Statistics & Facts To Help You Grow Your Online Business
Shopify has grown immensely in the past decade, and it’s showing no signs of slowing down. The eCommerce platform drives more than 400,000 stores across the globe. Most Shopify users have built their businesses on this platform and continue to experience growth.
If you’ve ever wondered how big Shopify is, who its customers are, how fast it has grown, and other essential facts, then this is the article for you. In this article, we will share with you the latest, most interesting Shopify statistics for 2021 that could just help you grow your business.
HOW BIG IS SHOPIFY?
With so many people using Shopify, there is a question to ask…How big is Shopify? As of 2021, Shopify is currently the world's third-largest eCommerce company in the USA, with live stores of over 1 million. According to BuiltWith.com, Shopify has 3,613,329 active websites worldwide as of this writing, which implies that Shopify is used by 2.7% of the top 1 million websites.
Here are a few more mind-blowing facts about the platform:
- In 2020, Shopify powered 20 percent of all e-commerce websites (Source: Statista)
- Over 1.75 million merchants are selling via Shopify, and 1.59 million live websites are using Shopify (Source: Backlinko).
- Shopify Plus runs on 17 683 domains (Source: Store Leads).
- Shopify currently operates in 175 different countries.
- In 2020, about 42,200 partners introduced a merchant to Shopify, a 72 percent increase over the previous year's total of 24,500. (Source: Shopify)
If those numbers aren’t impressive enough, Shopify shows no signs of slowing down. Even today, it’s the most searched eCommerce solution. If you look at Google Trends, you can see that searches for Shopify are far more prevalent than searches for alternative builders.
Then when you examine Shopify's global popularity, you'll see that the map is entirely blue in all English-speaking markets. Shopify exclusively supported the USD for a long time and was geared at English-speaking customers.
Notably, Shopify expanded its language support in 2018 to include six additional languages: French, German, Spanish, Italian, Brazilian Portuguese, and Japanese (all of which were introduced in December 2018). They've added 21 more languages to their repertoire. In addition, Shopify Payments is now available in additional countries, and 11 different currencies are currently supported.
Shopify stock also grew nearly 300% within 4 months in 2020. They began trading at $28 in 2015 when the company went public. This was already a 60% premium over the initial $17 offering price. In November 2021, shares reached a record high of $1,500, up from a low of $346 during the Coronavirus outbreak. This shows that COVID-19 accelerated Shopify's growth.
Because bricks and mortar sales plummeted during the pandemic and customers flocked online, Shopify was ideally positioned to advantage, with a 96 percent revenue boost in Q3 2020. In 2020, Shopify stores produced over $5 billion in revenue worldwide over the Black Friday / Cyber Monday period alone, a 76 percent increase year over year.
While we might anticipate a slowing of online shopping growth if pandemic-related limitations are relaxed, we believe that Shopify will continue to profit from this sector's growth.
What is Global eCommerce?
Global eCommerce is the practice of selling items or services beyond geopolitical borders from the nation of origin of a business, which is often described as its founding or incorporation location. Online sales and marketing are used to reach non-native markets. In a nutshell, selling goods and services from a foreign nation or origin via eCommerce. Here are a few benefits of global commerce:
- Reduced barriers to entry
- B2B sales cycles are shortened.
- Finding product-market fit is more manageable.
- Easy expansion into new markets
- Rapid expansion of worldwide presence
In 2021, the global eCommerce market is expected to reach $4.89 trillion. This number is expected to increase in the future years, indicating that borderless eCommerce is becoming a viable business model for online businesses.
2 years ago, online sales accounted for just 13.6% of total sales. Today, that figure is predicted to reach 19.5% in 2021, representing a 45.8% rise in the eCommerce market share over the previous two years. Growth is expected to keep going, reaching 21.8% by 2024. That is an 8.2% percentage point increase in just five years.
Additionally, by the end of 2021, it is estimated that around 2.14 billion consumers will have made online purchases.
By 2024, eCommerce is predicted to account for 21.8 percent of all retail sales worldwide.
The COVID-19 pandemic had a big influence on global shopping habits. Experts claim the pandemic sped up online buying by five years. As establishments closed overnight, customers went to the internet to purchase things.
M-commerce, or mobile commerce, is online shopping through smartphones or tablets. It can be said that M-commerce will continue to grow over the next several years.
Shopify Statistics 2021
Let's take a look at some Shopify statistics, including usage, sales, traffic, and growth, as well as some other noteworthy figures.
- Shopify retailers use around 80% of third-party applications, with a 25.8 million installed app ratio.
- Numerous well-known brands use Shopify, including myraymond, Royalenfield, Pepsi, Tesla, Nestle, and Budweiser.
Photo from Mageworx
- Shopify has done a fantastic job of building a strong network of partners for its platform. The Shopify App Store has 7,616 apps from 4,720 different vendors.
- The most installed apps are Product Reviews, Klaviyo, Mailchimp, Instafeed, Loox, Privy, Oberlo, Judge.me, and Messenger.
- Shopify has the largest share of US store domains (71.27%). Second is the United Kingdom, with Australia and Canada following close after.
- As of June 2021, Shopify clients totaled close to 2.3 million, according to data on the company's website.
- Shopify receives around 42.92 percent of its traffic directly. Other traffic sources include searches (26.75 percent), referrals (25.27 percent), social (2.68 percent), mail (2.06 percent), and display advertising (0.31 percent ).
- Shopify businesses in the fashion and clothing category are among the most popular. Patagonia, a clothing and gear brand based in the United States, is one of the highest-grossing Shopify stores (more than $24 million in sales).
LATEST SHOPIFY SALES AND TRAFFIC STATS
- A 57% increase in Shopify’s revenue can be attributed to their expanded payment and shipping options.
- Email is Shopify’s most effective channel when it comes to referral conversions (4.29%)
- The majority of the traffic comes from mobile devices (79%)
- In 2019, Shopify companies/businesses enjoyed a 50% rise in online sales compared to the global eCommerce market
- More than 50% of Shopify stores receive repeat purchases.
- According to current projections, Shopify's revenue is likely to top $3.6 billion by the end of 2021.
Other Shopify Stats You'll Find Interesting
- The vast majority of Shopify's customers are first-time business owners.
- Shopify's market capitalization places it in the top echelon when it comes to internet and online service providers.
- According to Shopify’s company data, as of September 2020, Shopify's market capitalization was $120.8 billion, whereas Amazon's was $1.6 trillion.
- More than 87% of Shopify retailers believe apps are critical for their business.
- T-shirts, tops, accessories, dresses, and other apparel items are among the top 17 categories of products sold on Shopify, accounting for 40% of all products sold.
- It's estimated that on Shopify, smartphone users make up about seven out of every 10 sales transactions.
Shopify Statistics: Frequently Asked Questions about Shopify.
Exactly how many Shopify stores are you allowed to run at once?
You can open as many stores as you like. To start a business, you'll need a subscription plan. In order to run several Shopify stores, you'll need to create individual accounts for each one.
Exactly how many Shopify businesses have been a financial success?
First and foremost, Shopify does not release this information, but we may estimate from the Gross Merch Volume, which is the overall sales volume for all merchant businesses.
Gross Merchandise Volume in 2021 was $37.30 billion, up 114 percent from $17.40 billion in the previous quarter.
What is the total number of Shopify merchants?
Over 1.7 million businesses are on Shopify, and the total number of Shopify stores is definitely greater.
How much money can you make through Shopify?
There are many factors to this, but ultimately it all depends on how you go about selling your products/services. Other factors like your website traffic and marketing can also affect this. If you start out small, the numbers may be small as well at first, but some businesses have made millions on Shopify, and you can learn from them.
There you have it, the most recent Shopify statistics and trends for 2021. The aforementioned Shopify data clearly shows the platform's progress and future prospects.
Although WooCommerce and Squarespace dominate the e-commerce sector, Shopify is fast gaining traction, and its growth appears to be unstoppable. In recent years, there has been exceptional growth for Shopify as an e-commerce platform, even if its market share is not the greatest.
As the years go by, the company is growing more profitable, well-known, and complete (in terms of features).
What comes after this? Can it take on Asian markets like China and Japan, where small business eCommerce isn't as well accepted? Moreover, can it succeed in Europe, where open-source software is the norm?
Because of the pace with which the business is evolving, it will be interesting to monitor these figures in the years to come and where Shopify will be in the future.
If you have further questions, please don't hesitate to contact us.