June 16, 2021

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Shopify Revenue and Merchant Statistics in 2021

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Shopify is a popular e-commerce platform used by 1.75 million sellers.

Founded in 2006, Shopify surpassed $1 billion in gross merchandise volume (GMV) in 2013. Today, it processes $119.58 billion in GMV every year — and generates $2.93 billion in revenue.

457 million buyers place an order with Shopify merchants each year. That’s a 16.23x increase since 2014.

Continue reading to find all of the latest Shopify statistics in 2021. From revenue to market share, here’s a summary of what we’ll cover:

Shopify Top Stats

  • 1.75 million merchants sell using the Shopify platform.
  • Shopify processed $119.58 billion in order value in 2020.
  • Shopify’s revenue for 2020 was $2.93 billion.
  • The Shopify App Store contains 6,000 apps.
  • Shopify merchants had a total of 457 million buyers in 2020.
  • 7,000 employees and contractors work at Shopify.

How many Shopify stores are there?

1.59 million live websites use Shopify. The majority of domains (71.27%) are registered in the United States. The United Kingdom and Australia complete the top 3.

Here’s a breakdown of Shopify online stores by country:

Country Live stores using Shopify
United States 1,132,470
United Kingdom 65,167
Australia 45,403
Canada 36,860
Germany 27,442
France 24,199
Netherlands 14,385
Brazil 12,641
India 9,649
New Zealand 9,606

Shopify has a dedicated plan for enterprise customers, called Shopify Plus. This costs $2,000 per month.

5,681 live websites use Shopify Plus. 69.34% of Shopify Plus customers are based in the United States.

Here’s a breakdown of Shopify Plus users by country:

Country Live stores using Shopify Plus
United States 3,939
United Kingdom 432
Canada 325
Australia 324
Germany 92
New Zealand 44
France 41
Netherlands 35
Hong Kong 27
Denmark 26

Source: BuiltWith.

Shopify merchants

1.75 million merchants sell using the Shopify platform. The company has added 680 thousand new merchants since 2019.

Shopify’s merchant count has grown 4.66x since 2016.

Here’s a table with the number of merchants using Shopify since 2012:

Year Merchants
2012 41,000
2013 84,000
2014 145,000
2015 243,000
2016 375,000
2017 609,000
2018 820,000
2019 1,069,000
2020 1,749,000

Source: Shopify.

Shopify merchants by region

Shopify has merchants located in 175 countries across the world.

Half of all Shopify merchants are based in the United States, which accounts for 874,500 sellers.

A further 25% of Shopify merchants (437,250 sellers) are located in Europe, the Middle East, and Africa.

Here’s a regional breakdown of Shopify merchants in 2020:

Region Merchants (Share)
United States 874,500 (50%)
Canada 104,940 (6%)
Europe, Middle East and Africa 437,250 (25%)
Asia Pacific, Australia, and China 262,350 (15%)
Latin America 69,960 (4%)

Source: Shopify.

Shopify gross merchandise volume

Shopify facilitated $119.58 billion worth of transactions in 2020. Shopify’s gross merchandise volume has increased by 95.58% over the past year.

We’ve charted Shopify’s gross merchandise volume since 2012:

Year Gross merchandise volume
2012 $707.4 million
2013 $1.62 billion
2014 $3.76 billion
2015 $7.7 billion
2016 $15.37 billion
2017 $26.32 billion
2018 $41.1 billion
2019 $61.14 billion
2020 $119.58 billion

Source: Shopify.

How many people buy from Shopify stores?

457 million people bought from a Shopify store in 2020. The number of shoppers placing an order with Shopify merchants has increased by 52.33% over the past year.

Here’s a table showing the number of buyers from Shopify stores since 2014:

Year Buyers
2014 28 million
2015 57 million
2016 100 million
2017 163 million
2018 216 million
2019 300 million
2020 457 million

Source: Shopify.

Shopify revenue

Shopify generates $2.93 billion in annual revenue. Compared to last year, that’s an increase of 85.44%.

Shopify’s annual revenue has increased 14.28x since 2016.

Here’s a table with complete data on Shopify revenue since 2012:

Year Revenue
2012 $23.71 million
2013 $50.25 million
2014 $105.02 million
2015 $205.23 million
2016 $389.33 million
2017 $673.3 million
2018 $1.07 billion
2019 $1.58 billion
2020 $2.93 billion

Source: Shopify.

Shopify “subscription solutions” revenue

Shopify regularly reports its “subscription solutions” revenue. The category includes platform subscription fees and Point-Of-Sale Pro fees, as well as sales of apps, themes, and domains.

The company brought in $908.76 million in subscription revenue in 2020. That accounts for 31.01% of total company revenue. Subscription solutions were Shopify’s primary source of revenue up until 2015.

Shopify’s subscription revenue has grown by 51.26% since 2019.

Here’s a table showing Shopify subscription solutions revenues since 2012:

Year Revenue (Share)
2012 $19.2 million (80.98%)
2013 $38.34 million (76.3%)
2014 $66.67 million (63.48%)
2015 $111.98 million (54.56%)
2016 $188.61 million (48.44%)
2017 $310.03 million (46.05%)
2018 $465 million (43.46%)
2019 $642.24 million (40.65%)
2020 $908.76 million (31.01%)

Source: Shopify.

Shopify merchant solutions revenue

Spotify’s merchant solutions revenue primarily consist of payment processing fees. Other revenue sources in this segment include referral fees, advertising revenue and sales of POS hardware.

Shopify generated $2.02 billion in merchant solutions revenue in 2020, representing 68.94% of total revenue. Merchant solutions have been Spotify’s main revenue source since 2016.

Shopify’s merchant solutions revenue has increased 2.16x over the past year.

We’ve charted Shopify’s merchant solutions revenues since 2012:

Year Revenue (Share)
2012 $4.51 million (19.02%)
2013 $11.91 million (23.7%)
2014 $38.35 million (36.52%)
2015 $93.25 million (45.44%)
2016 $200.72 million (51.56%)
2017 $363.27 million (53.95%)
2018 $608.23 million (56.54%)
2019 $933.93 million (59.35%)
2020 $2.02 billion (68.99%)

Source: Shopify.

Shopify revenue by region

Shopify provides a regional breakdown of revenue, calculated by reference to seller location.

Shopify generated $2.15 billion from sellers located in North America in 2020, totaling 73.3% of overall revenue. All markets outside of North America generate a combined $780 million.

Here’s Shopify’s regional revenue breakdown in 2020:

Region Revenue (Share)
North America $2.15 billion (73.3%)
Europe, Middle East, and Africa $454.27 million (15.5%)
Asia Pacific, Australia, and China $292.24 million (10%)
Latin America $36.16 million (1.2%)

Source: Shopify.

Shopify monthly recurring revenue

Shopify calculates monthly recurring revenue by multiplying the number of merchants at any given time by the average monthly subscription plan fee. Shopify uses this metric as one of its business performance indicators.

Shopify’s monthly recurring revenue reached $82.61 million in 2020. That’s up 52.26% since 2019.

Here’s a table showing Shopify’s monthly recurring revenue since 2012:

Year Monthly recurring revenue
2012 $2.02 million
2013 $3.82 million
2014 $6.57 million
2015 $11.33 million
2016 $18.46 million
2017 $29.88 million
2018 $40.93 million
2019 $53.9 million
2020 $82.61 million

Source: Shopify.

Number of apps on the Shopify App Store

Shopify has 6,000 apps available for download in the Shopify App Store, spanning 12 different categories. The Shopify app marketplace has added 2,300 new apps since 2019.

Since 2015, the Shopify app count has increased 15x.

Here’s a table with the number of apps in the Shopify App Store since 2015:

Year Apps
2015 900
2016 1,400
2017 2,300
2018 2,500
2019 3,700
2020 6,000

Source: Shopify.

What’s the Shopify market share in the US?

Based on gross merchandise volume, Shopify stores in the US claim an 8.6% market share of all retail e-commerce sales nationwide. That’s more than Walmart (5.8%) or eBay (4.9%).

Here’s a complete ranking of the 5 largest US e-commerce players by market share:

Store Share of US e-commerce sales
Amazon 39%
Shopify 8.6%
Walmart 5.8%
eBay 4.9%
Apple 3.5%

Source: Shopify.

How many people work at Shopify?

Shopify has 7,000 employees and contractors. The company has increased its employee count by 40% over the past year.

Shopify has hired an additional 4,000 new employees and contractors since 2017.

Here’s a table with the number of employees and contractors at Shopify since 2013:

Year Apps
2013 334
2014 632
2015 1,048
2016 1,900
2017 3,000
2018 4,000
2019 5,000
2020 7,000

Source: Shopify.

Conclusion

That’s all for my list of Shopify stats in 2021.

The e-commerce platform is growing rapidly. Merchants, buyers and gross merchandise volume are all increasing year over year.

As more businesses adopt e-commerce channels, Shopify’s online sales portal presents an attractive package.

What do you think of Shopify? Can it continue its impressive growth? How resilient will online sales be in a post-pandemic world?

I also want to hear from you if you have any feedback regarding this stats roundup or ideas for future posts.

Don’t hesitate to drop me a line in the comments section below.

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