E-commerce has been growing and taking a larger part of total retail sales each year, and one of the leaders in e-commerce sales is definitely Shopify.
If you’d like to learn more about the important Shopify statistics and the reasons for its growth, keep reading.
Top 10 Shopify Statistics and Facts
- Statistics show that Shopify’s stock has increased over 300% since the beginning of the pandemic.
- Some of the largest Shopify stores include Lindt, Heinz, and Allbirds.
- Death Wish coffee made over a quarter-million dollars in just two hours using Shopify Plus.
- There are over 1.4 million live websites that use Shopify.
- In 2020, Shopify merchants made over $5.1 billion during Black Friday and Cyber Monday sales.
- In 2020, Shopify surpassed eBay and became the second-largest e-commerce platform by sales volume.
- Businesses on Shopify support over 2 million full-time jobs.
- Shopify is the largest global e-commerce-only platform for website management.
- Top 10% of Shopify stores had conversion rates above 5.1%.
- Shopify statistics show that 81% of traffic in 2019 came from mobile devices.
Sales and Growth Facts about Shopify
Shopify has been increasing sales at a rapid pace over the last few years. This has led to some astonishing results, such as these below:
1. In 2020, Shopify merchants made over $5.1 billion during Black Friday and Cyber Monday sales.
(Shopify & You)
Black Friday and Cyber Monday sales have become some of the busiest shopping days and sales of the year, and consumer spending is about 60% of the world’s GDP.
Plus, as the pandemic limited the possibility for in-store shopping, online retailers became the preferred shopping “destination” for most people.
Shopify merchants’ sales saw a 76% increase from 2019, from $2.9 billion to $5.1 billion. During those sales, 44 million customers bought products from Shopify, which was a 50% increase from 2019.
2. Shopify revenue was up by 96% for Q3 2020.
Shopify revenue for Q3 2020 was $767.4 million, which was a 96% increase compared to the same quarter of 2019.
At the time of writing this article, Q4 has not been released, but through the known three quarters, the company made $1.952 billion in sales. In comparison, it made “only” $1.578 billion in 2019.
3. Statistics for Shopify show that its stock has increased by over 300% since the beginning of the pandemic.
(Investor’s Business Daily)
It’s been a tough year for many companies. The pandemic brought many closures and a lot of unknowns.
This was not the case for Shopify, though. The stock has more than tripled since March and has outperformed 87% of all stocks this year.
This has caught the attention of investors, and when it comes to Shopify, its popularity has been increasing. It’s become one of the most talked-about stocks this year.
4. Shopify facts show that businesses on the platform generated $319 billion from 2016 to 2019.
Shopify operates in 175 countries, and most of the merchants are small businesses that directly contribute to local economies.
Additionally, there are 18 countries where Shopify merchants are contributing over $1 billion in economic activity. Plus, there are over 50 countries with an economic contribution of over $100 million.
5. In 2020, Shopify surpassed eBay and became the second-largest e-commerce platform by sales volume.
(The Motley Fool)
As the number of Shopify users in 2020 grew, the sales grew as well. In June, the company reported that it sold $30.1 billion worth of goods. That was a whopping 119% increase from last year.
In comparison, eBay sold $27.1 billion, which was an increase of 26%. This data moves Shopify to 2nd place in terms of e-commerce sales volume, trailing only Amazon.
6. Shopify Statistics show that the number of new stores increased by 62% during the first few weeks of Covid lockdowns and measures.
(Shopify & You)
Between March 13, 2020, and April 24, 2020, there was an increase of 62% in new stores compared to the previous six weeks.
During the same period, there were 45% more customers making a purchase at a Shopify merchant they have never shopped before. In addition, there was an 8% increase in new customers.
Shopify Traffic Stats
If you are in any kind of business, you probably know about the importance of traffic.
It is essential to the success of a company, as it’s an indicator of the well-being of your business — and here’s how Shopify ranks in this regard.
7. There are over 1.4 million live websites that use Shopify.
There are over 1.4 million live websites that trust Shopify with their e-commerce services.
Out of that number, the majority are based in the US — 1.047 million at the time of writing.
The UK is second, with 56,859, and Australia takes third place, with 39,980 websites at the time of writing.
8. Shopify is the largest global e-commerce-only platform for website management.
As of December 2020, the Shopify market share was 3.2% of all global websites. This makes it the largest e-commerce-only platform.
This number has grown from 1.9% in January 2020 and from 0.4% in January 2016.
9. Top 10% of Shopify stores had conversion rates above 5.1%.
Conversion rate can be defined as the percentage of customers ending up making a purchase. The Shopify average conversion rate was 1.6% in May of 2020.
In perspective, the average e-commerce conversion rate was 1.83% in October of 2020.
However, the top 20% of stores on Shopify had a conversion rate of 3.6%, and the top 10% — 5.1%, which is almost triple the industry average.
10. Shopify statistics show that 81% of traffic in 2019 came from mobile devices.
(Shopify & You)
In today’s world, mobile devices play a vital role in our life — from social media to online shopping, there’s hardly anything we can’t use them for.
However, Shopify stats show 81% of traffic and 71% of all orders made in the 3rd quarter of 2019 came from mobile devices. That’s an increase from 77% and 67%, respectively, from the same period in 2018.
As for all visitors, Shopify visitor statistics show that there have been over 23 million app visits in 2018.
11. Death Wish coffee made over a quarter-million dollars in just two hours using Shopify Plus.
Shopify Plus is the enterprise platform of the company that allows for much faster checkouts, handling of large volumes, and integration of all systems.
Statistics show that websites lose 40% of potential shoppers when their loading time is longer than 3 seconds. This is why a fast checkout and the ability to handle large volumes are essential.
Death Wish coffee was using Shopify Plus when it put up a commercial during Super Bowl 50. After that, in two hours, the company made over a quarter-million dollars, or $2,083 per minute.
B2B E-commerce Statistics
As you probably already know, B2B, or business-to-business, is when two companies, or manufacturer and retailer, do business without the direct involvement of customers.
Shopify is in the B2B, as it supports merchants — so, here are some stats about that aspect.
12. There are over 4,200 apps on the platform’s App Store, Shopify statistics show.
(Shopify & You)
Moreover, in 2018, 87% of merchants said they rely on apps for their business. Shopify has an app store to support those merchants, and its popularity is growing.
Currently, there are over 4,200 apps in the app store.
13. You can save up to 90% of your Shopify shipping rates when using USPS Cubic Pricing.
When you use Shopify Shipping, the company’s shipping service, you get discounts from various companies. One of the most significant ones is the USPS Cubic Pricing.
Meant for small but heavy items – under 0.5 cubic feet in volume and under 20 pounds, your Shopify shipping rate can be up to 90% off the retail price that USPS will charge you.
14. Businesses on Shopify support over 2 million full-time jobs.
(Shopify & You)
The Shopify number of users working full time for businesses on the platform were over 2 million in 2019.
That number has been steadily increasing over the years, so it’s safe to assume that it’s even higher today.
Looking back, in 2017, Shopify businesses supported about 1 million workers.
15. At the time of writing, Shopify was the most searched e-commerce solution on Google.
Shopify led the way in interest on google searches. At the time of writing, data shows that the top country for Shopify interest is Canada with 88% of all searches.
Japan comes in second with 83%, and a tie between Singapore and the US with 78% in third.
16. Shopify partner statistics show that, in 2019, 26,400 partners referred a merchant to Shopify.
(Shopify, Shopify & You)
Shopify’s partner program allows for app developers, theme developers, and businesses that refer to other merchants to earn monthly revenue. In 2018, Shopify paid more than $100 million to those partners.
Moreover, 14,700 of those partners were engaged in international activity.
Fun and Interesting Shopify Stats
Let’s not only talk about numbers and sales. There are some more interesting facts we think would be worth your time.
17. Shopify users can make TikTok videos to promote their businesses.
TikTok was the most downloaded app in 2020. Shopify has a TikTok app in their app library, which is aimed at companies that want to promote their businesses on social media.
Shopify offers support for making the videos, managing and tracking performance, creating ads and promoting them, and finally, targeting the desired audience.
18. The first store on Shopify was their own.
Shopify started as an online store that sold snowboards. When they could not find an e-commerce solution that fulfilled all their needs, the company made its own.
19. Based on 2020 Shopify statistics, 2021 stats could be even better, according to financial analysts.
Shopify 2020 performance is not a fluke. According to financial analysts, in 2021 we will continue to see the company grow.
Regardless of the vaccines, customers are likely to continue to shop online. But the biggest indicator is the deal with Stripe — a payment processing software company.
The deal will help Shopify merchants with their payment processing, financial planning, and improve their banking experience. That will also allow customers easier and faster checkouts.
20. Some of the largest Shopify stores include Lindt, Heinz, and Allbirds.
Many large companies trust Shopify to support their online shops. Some of Shopify top sellers include Lindt, Heinz, Allbirds, and many more.
How many sellers are on Shopify?
The number of Shopify stores has been steadily increasing every year to surpass 1 million in 2020. In comparison, in 2018, there were 600,000 stores, and in 2017 — 400,000.
What percentage of eCommerce is Shopify?
Shopify has about a 30% market share of the US e-commerce software market. This makes it the biggest name in the US e-commerce field.
How many users does Shopify have?
In 2019, over 218 million people have made a purchase via Shopify in 2012.
In addition, there are over 1 million merchants and over 2 million full-time employees working for Shopify.
How many Shopify stores are successful?
While there is no data on the Shopify success rate of its merchants, here are some key points to make your business successful:
- Don’t rush your math
- Find a niche in the market
- Know your customer
- Have solid marketing
- Have a business plan
In order to be successful, you must put the time and do your research. There are many factors that the most successful merchants on Shopify pay attention to with their businesses.
How much does Shopify charge per transaction?
First, there are monthly fees ranging from $29–$299 per month. Shopify credit card rates range from 2.4% + $0.30 per transaction to 2.9% + $0.30 per transaction.
E-commerce is the future of shopping. More and more people are switching to online shopping. Therefore, merchants need to make sure they capture those customers.
Having a solid online presence and being successful is not simply having an online store. There is much more to it. Proper marketing, low shipping rates, website management are some aspects of a well-run online store.
As these incredible Shopify statistics show, the company is growing each year. It is one of the biggest names in the e-commerce platform business.
With Shopify, you have a proven name that keeps growing and improving to deliver the best support for their merchants.