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Shopify Revenue and Merchant Statistics in 2021


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:

CountryLive stores using Shopify
United States1,132,470
United Kingdom65,167
Australia45,403
Canada36,860
Germany27,442
France24,199
Netherlands14,385
Brazil12,641
India9,649
New Zealand9,606

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:

CountryLive stores using Shopify Plus
United States3,939
United Kingdom432
Canada325
Australia324
Germany92
New Zealand44
France41
Netherlands35
Hong Kong27
Denmark26

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:

YearMerchants
201241,000
201384,000
2014145,000
2015243,000
2016375,000
2017609,000
2018820,000
20191,069,000
20201,749,000

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:

RegionMerchants (Share)
United States874,500 (50%)
Canada104,940 (6%)
Europe, Middle East and Africa437,250 (25%)
Asia Pacific, Australia, and China262,350 (15%)
Latin America69,960 (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:

YearGross 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:

YearBuyers
201428 million
201557 million
2016100 million
2017163 million
2018216 million
2019300 million
2020457 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:

YearRevenue
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:

YearRevenue (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:

YearRevenue (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:

RegionRevenue (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:

YearMonthly 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:

YearApps
2015900
20161,400
20172,300
20182,500
20193,700
20206,000

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:

StoreShare of US e-commerce sales
Amazon39%
Shopify8.6%
Walmart5.8%
eBay4.9%
Apple3.5%

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:

YearApps
2013334
2014632
20151,048
20161,900
20173,000
20184,000
20195,000
20207,000

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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