33 Shopify stats you need to know (updated for 2024!)
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As one of the biggest eCommerce platforms, sometimes absorbing and understanding Shopify stats is the easiest way to fully get your head around Shopify and all its built-in marketing tools. That’s why we’ve rounded up 33 statistics to show you just how powerful this platform can be.
At Embryo, we’re no stranger to Shopify – nor its power. Our leading web development team can help you unlock the growth potential of your Shopify store, so you can reach a bigger audience, skyrocket your sales and most importantly, set yourself apart from the competition.
Revenue and Sales
- In the second quarter of 2024, Shopify’s revenue was a whopping $2 billion dollars
- In Q1 2024, the platform’s revenue increased 23% to $1.9 billion compared to the prior year – translating into year-over-year growth of 29%
- Shopify merchants generate over $300 billion in economic activity annually
- In the first three months of 2024, total B2B sales by merchants on Shopify were up 130% year-over-year
- Subscription Solutions revenue increased 34% to $511 million in Q1 2024, driven by the number of merchants and the pricing increases on Shopify’s standard subscription plans
- In Q2 2024, this number increased to $563 million
- Shopify handles 10,978 requests every single minute
Global Reach
- Businesses in more than 175 countries use Shopify as their chosen eCommerce platform
- Shopify allows merchants to create online stores in 20 different languages
- 30% of US online stores use Shopify, making it the country’s largest e-commerce platform
- Shopify owns 21% of the eCommerce market in Brazil
- Globally, there are more than 5.46 million Shopify stores
- This equates to over 700 million shoppers served by Shopify
- Shopify also ranks as the 10th most popular brand among global services
- Apparel is the most popular category on the site, with over 500k Shopify stores selling clothing items
- At the time of writing, Shopify has a market value of $107.27B
- Shopify’s net profit margin is currently 16.4%
- During Q2 2024, Shopify’s monthly recurring revenue increased by 25% to $169M
- Shopify has a high organic reach, having 512,439,738 backlinks
- They also have a high authority score of 88/100
Apps and Features
- There are 2.4 million monthly downloads of Shopify’s Shop app
- There are over 7000 Shopify Planet App users
- The Shopify App Store has over 10,000 apps
- More than 85% of Shopify merchants use apps to improve their overall performance
- Shopify also has an ecosystem of 400+ extensibility-powered apps with features like upsells, loyalty programs, and post-purchase surveys.
- Shopify handles 80,000 live tickets and over 95,000 interactions via its AI-powered help centre every week.
Shopify Plus
- At the time of writing, 46,046 live sites are using Shopify Plus
- 3,263 of these sites are registered in Britain
- In total, there are 12,433 companies using Shopify Plus at the moment
- 51% of Shopify Plus customers are based in the United States, 9% in the United Kingdom and 6% in Canada.
- Looking at Shopify Plus customers by industry, Retail (17%), Apparel & Fashion (11%) and Manufacturing (9%) are the largest segments
- The majority of customers using Shopify Plus are classed as small businesses (74%)
- Large businesses constitute 6% of Shopify Plus users, with medium-sized businesses claiming 14% of the total
Do more with Shopify and Embryo today
Shopify is a platform with all the bells and whistles – but you’ll need an expert to help your site make noise. Reach out to Embryo today.
