The Rise of Shopify: A Global E-Commerce Powerhouse
Introduction
Online shopping has become an integral part of our daily lives. Shopify, one of the largest e-commerce platforms, provides easy access for anyone looking to build an online business. Although Shopify started with humble beginnings in 2006, the platform has since grown to become an industry leader. These Shopify statistics show why so many entrepreneurs rely on Shopify to sell their products online.
Shopify Facts at a Glance
- Launch Year: 2006
- Number of Stores: Over 1.7 million
- Monthly Visits (as of May 2021): 57.4 million
- Successful Brands: More than 10,000
- 2020 Revenue: $2.93 billion
- Black Friday to Cyber Monday Revenue (2020): $5.1 billion
Key Shopify Statistics
The Shopify Platform Launch
The Shopify platform was launched in June 2006, originating from the founders' need for a better e-commerce solution for their snowboarding store, "Snowdevil."
Global Presence
Shopify operates in 175 countries, with 17 offices in 12 countries and about 5,000 employees.
Store Numbers
There are over 1.7 million stores on Shopify, including big names like Nestlé, Pepsi, and General Electric.
Multilingual Platform
Shopify is available in over 20 languages, making it accessible to a global audience.
Market Share
Shopify holds a 7.63% market share among e-commerce platforms, ranking fifth globally.
Public Listing
Shopify went public in May 2015 at $17 per share. By 2020, the stock price had surged to $797, a 4,600% increase.
Job Creation
In 2020, businesses on Shopify created approximately 3.6 million jobs worldwide.
Major Brands
Approximately 10,000 major brands, including Nestlé and Pepsi, use Shopify.
Website Count
As of June 2021, nearly three million websites are powered by Shopify.
Revenue Growth
Shopify's 2020 revenue was just under $3 billion, showing a significant increase from the previous year.
Economic Impact
Shopify businesses have generated over $200 billion in revenue, contributing significantly to the global economy.
Black Friday to Cyber Monday Sales
During Black Friday to Cyber Monday in 2020, Shopify stores generated $5.1 billion in sales.
Revenue Growth
Shopify's revenue grew nearly 90% in 2020, reflecting its rapid expansion and increasing popularity.
High-Performing Merchants
679 Shopify merchants have sales over $1 million, and there are 42,566 websites with sales over $100,000.
Extensive App Store
The Shopify App Store features over 6,600 apps, with 87% of merchants using them to enhance their businesses.
Popular Product Categories
The most popular product categories on Shopify include fashion, apparel, jewelry, bags, and shoes.
Market Capitalization
As of September 2020, Shopify's market capitalization was $120.8 billion, ranking it among the top internet and online services companies.
Store Growth During Pandemic
New Shopify stores grew by 71% in Q2 2020 compared to Q1 2020, driven by the pandemic-induced shift to online shopping.
User Statistics
The number of Shopify users reached 457 million in 2020, a 52% year-over-year increase.
Hosting Solution of Choice
Shopify is the hosting solution for 1.7 million businesses, with notable brands like Tesla and Budweiser using the platform.
E-Commerce Market Share
Shopify holds nearly 11% of the total e-commerce market share, ranking third after WooCommerce and Squarespace.
Year-Over-Year Revenue Increase
Shopify's total revenue increased by 47% from Q1 2019 to Q1 2020.
Global Economic Activity
Shopify businesses have contributed $319 billion to global economic activity as of March 2021.
Online Sales Growth
Shopify businesses saw a 50% increase in online sales in 2019 compared to the global e-commerce market.
Repeat Business
More than 50% of Shopify stores receive repeat business, with the average shopper making 3.8 purchases from the same store.
Partner Referrals
In 2019-2020, 26,400 partners referred a merchant to Shopify, showcasing the platform's popularity.
Dominant Industries
The largest industries on Shopify are retail, apparel and fashion, and computer software, accounting for over a third of its user base.
Top Countries
The U.S. leads with 62% of Shopify Plus stores, followed by the UK (10%) and Canada (9%).
Mobile Traffic
79% of Shopify store traffic comes from mobile devices, highlighting the importance of mobile optimization.
Mobile Orders
69% of Shopify store orders are placed via mobile devices.
App Usage
87% of Shopify merchants use apps to customize their stores, with the average merchant using six apps.
Conclusion
While Shopify may not be the largest company in terms of market share, it is a true e-commerce giant and has experienced record growth in recent years. More than one million businesses in 175 different countries use Shopify, contributing to $319 billion in global sales. Unlike many companies whose growth was stunted by the pandemic, Shopify has thrived.
