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.