Shopify has been a boon for online businesses since its launch. With an easy-to-use platform and a plethora of features, Shopify has become the go-to choice for many online store owners. But what does the future hold for Shopify sales? In this blog post, we will take a look at 12 Shopify sales statistics that you need to keep an eye on. So let's get started!
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How did we collect this data?
To ensure accuracy and reliability, we collected the data for these Shopify sales statistics from various sources like Demandsage, Aquireconnect and Thesocialshepherd. We also gathered information from Shopify's official announcements and updates. By compiling data from multiple sources, we aimed to provide you with a comprehensive overview of the current state and future projections of Shopify sales. Now, let's dive into the 12 Shopify sales statistics that will shape the landscape.
12 Shopify sales statistics
Let's have a look at the following statistics that will give you valuable insights into the world of Shopify sales:
- Shopify generated $2.15 billion US dollars in revenue from the USA, Canada, and Mexico, accounting for 73.3% of total sales. [Source: Demandsage]
- 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. [Source: Demandsage]
- Shopify has generated over $700 billion in sales since its inception. [Source: Demandsage]
- Last year, more than 2 million sellers chose Shopify to set up and manage their online stores. [Source: Demandsage]
- Looking at just the sales in 2020, 457 million people bought from a Shopify store. This number has increased by 52.33% over the past year, signaling a boost in online sales. [Source: Thesocialshepherd]
- Currently, Shopify’s total revenue stands at $4.9 billion, and its market share is 25% of the global e-commerce platform market. [Source: Thesocialshepherd]
- Gross profit increased by 36% yearly to $901 million in the third quarter of 2023. [Source: Demandsage]
- 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. [Source: Demandsage]
- Conversion rates for Shopify stores are as follows: 4.29 percent email, 3.04 percent search, 2.93 percent direct, 1.81 percent social. [Source: Aquireconnect]
- 25 percent of Shopify’s recurring revenue comes from Shopify Plus. [Source: Acquireconnect]
- The average Shopify store revenue is $67,000 USD [Source: Acquireconnect]
- The gross merchandise value (GMV) of Shopify in the United States is expected to reach a value of more than 145 billion U.S. dollars by 2024. For comparison, Shopify GMV was only 62.88 billion U.S. dollars in 2020. [Source: Statista]
Conclusion
In conclusion, the Shopify platform continues to dominate the e-commerce industry with its impressive sales statistics. From the increasing number of merchants and customers to the rising revenue and order volume, Shopify proves to be a reliable and profitable platform for businesses. As we look forward, it's clear that Shopify will continue to innovate and provide even better opportunities for businesses to succeed in the competitive e-commerce landscape.
