33 Shopify stats you need to know
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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.
33 Shopify stats to appreciate the power of Shopify
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Revenue and Sales
- Shopify boasts an annual revenue of $7bn.
- Since its inception, Shopify has generated over $700 billion in sales.
- 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 reached a record of $9.3 billion in sales over Black Friday- Cyber Monday weekend in 2023.
- Shopify predicts a 155% ROI within three years of joining as a Shopify partner.
- Collective sales reached $4.2 million per minute at 12:01 p.m. EST on Black Friday last year.
- In the first three months of 2024, total B2B sales by merchants on Shopify were up 130% year-over-year.
- For more than 7 years, Shopify Capital has injected more than $5 billion into merchant businesses.
- 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.
- Shopify handles 10,978 requests every single minute.
- More than 55,000 merchants had their highest-selling day ever on Shopify on Black Friday 2023.
Global Reach
- Businesses in more than 175 countries use Shopify as their chosen eCommerce platform.
- Shopify allows merchants to create online stores in 21 different languages.
- 29% of US online stores use Shopify, making it the country’s largest e-commerce platform.
- Shopify owns 21% of the eCommerce market in Brazil.
- Shopify ranks 5th among top public SaaS companies in the US.
- Shopify currently has a market value of $81.33B.
- 16% of Amazon sellers use Shopify.
- Shopify has a 13.8% share in online payment processing technologies.
- Email is the best-converting referrer for Shopify stores, delivering an average conversion rate of 4.29%
- 10% of the global e-commerce tech market is owned by Shopify.
- 25 million new leads signed up for a Shopify free trial in 2023.
Apps and Features
- 800+ features and updates have been released in Shopify over three years.
- Since Shopify’s AI image generation was rolled out, merchants have already saved over 1 million AI-generated images to their storefronts.
- There are 2.4 million monthly downloads of Shopify’s Shop app.
- Shop Pay, Shopify’s accelerated checkout option, has generated a cumulative GMV of $110 billion since its launch in 2017.
- Shopify has an ecosystem of 400+ extensibility-powered apps with features like upsells, loyalty programs, and post-purchase surveys.
- Since 2022, merchants have used Shopify’s Planet app to neutralise shipping emissions from more than 25 million orders, remove 23,000 tons of carbon from the atmosphere and contribute more than $1 million in funding for carbon removal projects.
- Shopify handles 80,000 live tickets and over 95,000 interactions via its AI-powered help centre every week.
Shopify Plus
- Over 48,000 sites use Shopify Plus, the platform’s enterprise-grade offering, including household names like Heinz, Staples and Steve Madden.
- Of all the customers using Shopify Plus, a majority (61%) are small (<50 employees), 10% are large (>1000 employees) and 29% are medium-sized.
- 45% of Shopify Plus customers are in the United States, 8% are in the United Kingdom and 5% in Canada.
- Looking at Shopify Plus customers by industry, Retail (17%), Apparel & Fashion (11%) and Manufacturing (9%) are the largest segments.
Do more with Shopify 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.
