What started as an online store for snowboarding equipment back in 2006 grew into a multinational ecommerce company known worldwide. This article examines global Shopify statistics and compares them with the data available for Canada, Shopify’s home country.
Top 10 Shopify Statistics for 2022
- As of April 2021, the Shopify market share was 3.69%.
- Shopify merchants have created 3.6 million jobs.
- Toys are among the hottest Shopify trends in Canada.
- As of December 2021, there were 90,493 Shopify customers in Canada.
- Small businesses represent 98% of all companies in Canada.
- Shopify’s current statistics say the brand grew in value by 113% in 2021.
- The number of total visits in November 2021 was 62.28 million.
- Shopify’s revenue increased significantly from 2015 to 2021.
- Shopify demographics reveal that 52% of its merchants are female.
- The number of merchants offering “Buy Now” rose by 60% since the pandemic started.
Global Shopify Statistics
Although Shopify is based in Ottawa, the brand has become internationally recognized. We explore some of Shopify’s most interesting global stats to discover its market size and influence.
Shopify’s biggest rival, WooCommerce, had a market share of 23.43%. Squarespace Online Stores were at the top of the list with a 23.51% market share. 100sklepow and WixStores were performing relatively well too. Their shares were 15.13% and 6.16%, respectively.
2. Business owners have made over US$200 billion using the platform, Shopify stats reveal.
Since the launch of Shopify in 2016, more than 1.7 million businesses from 175 different countries have made billions of dollars. But, more importantly, Shopify empowered countless independent entrepreneurs to get into online trade.
3. According to Shopify statistics from 2020, for every US$1 Shopify makes, their merchants earn US$40.82.
In 2020, Shopify Partners generated US$12.5 billion in total revenue. That was a significant increase of 84% from the year before. In 2019, the total revenue generated by Shopify Partners was US$6.8 billion.
4. Shopify account stats show that Shopify merchants have created 3.6 million jobs.
Collectively, Shopify merchants support the largest workforce. In 2020 alone, they have made a global economic impact of US$307 billion.
When combined, Shopify merchants would be the 7th largest company globally in terms of revenue, above BP, Apple, and Volkswagen.
Shopify Statistics for Canada
The Great White North is an important market for Shopify and Canadians seem to love the ecommerce company. Since small businesses are the lifeline of the Canadian economy, it’s no wonder that Shopify grew fast in popularity.
Trending Products to Sell Online in 2022
5. Toys are among the hottest Shopify trends in Canada.
Toys saw a global growth order (YOY) of 1,239%. Valued at US$110.97 billion, the global toy market witnessed considerable growth in the first half of 2021. What’s more, it’s more than evident that the market will continue its rise in 2022, with 1.8 million average monthly searches for the term “toys.”
6. Shopify statistics reveal that Shopify is Canada’s most valuable company.
(The Globe and Mail)
Shopify’s quarterly revenue topped US$1 billion, making the company one of the country’s most profitable enterprises.
At first, analysts were skeptical about the company repeating its tremendous growth pace of 2020. However, recently they backtracked, forecasting that the Shopify revenue would hit US$1.04 billion in the quarter, on average.
7. Canada is among the top three countries that use Shopify Plus.
Shopify customer demographics show that Americans make nearly two-thirds (64%) of all Shopify Plus users. Canada and the United Kingdom share second place with 9% of users each.
8. Small businesses represent 98% of all companies in Canada.
Entrepreneurs, solopreneurs, and small business owners are essential for a favourable Shopify success rate. Therefore, it wasn’t a surprise that the Canadian government teamed up with Shopify in 2020 to launch the “Go Digital Canada” campaign.
The campaign was designed to aid the digitization of businesses, no matter where they stand. In other words, its task is to both assist business owners who are new to ecommerce and prop up the owners looking to scale their existing business.
9. Shopify traffic stats reveal there were 90,493 Shopify customers in Canada as of December 2021.
As many as 4,852,794 live sites use Shopify. Astoundingly, the total number is 5,353,180, including historical. Some of the sites with the biggest sales revenue include Lorex and Frank & Oak.
10. Shopify’s current statistics say the brand grew in value by 113% in 2021.
Shopify was the fastest-growing Canadian brand in 2021. In 2020, it ranked 98th on the list of the most valuable Canadian brands and jumped to 60th place in 2021. At this rate, Shopify is forecast to make it to the top 25 Canadian brands within the next three years.
11. 68% of Canadian consumers cite free delivery as an integral part of their online shopping experience.
Among Shopify dropshipping trends is the wish of consumers to get free shipping. Apart from more than two-thirds of Canadians, 67% of Americans and 66% of Spaniards view free shipping as an essential part of their online shopping experience.
12. Black Friday 2020 Shopify statistics for Canada reveal that peak sales hour was 12 PM.
On Black Friday in 2020, mobile orders accounted for 61% of all sales in Canada (compared to 67% globally).
Shoppers mainly bought clothing and accessories, as well as beauty and health products. In Canada, electronics are also highly sought after.
Shopify Stats on Stores and Revenue
The story of Shopify’s revenue is a story of rapid growth. For instance, merchants adapted their stores to the pandemic, so their sales soared when other businesses struggled.
13. New stores created on the platform recorded an increase of 71% from Q1 2020 to Q2 2020.
The number of new stores on Shopify skyrocketed in the second quarter of 2020 as the pandemic hit. Likewise, the third quarter of 2020 saw a record number of merchants added to the platform.
14. Shopify buying trends recorded a 122% increase in the number of stores offering contactless payments during the pandemic.
The growth rate in the United States (155%) was higher than the global average. That might be because 62% of consumers are more comfortable making in-store purchases with contactless or digital payments.
15. Shopify’s revenue increased significantly from 2015 to 2021.
The average Shopify store revenue has constantly risen for at least half a decade. In 2015, the company’s revenue was US$0.20 billion. That figure dramatically increased in 2018 to US$1.07 billion and reached US$4.20 billion in 2021.
Data from December 2020 shows that Shopify is the largest ecommerce-only platform. Essentially, 39% of all websites don’t use a content management system, 39% use WordPress, and the rest use Shopify.
17. Shopify’s online credit card rates range from 2.4% on the Advanced to 2.9% on the Basic plan.
Shopify transaction percentage also includes US30¢. In-person credit/debit cards come with lower rates — 2.4% on the Advanced Shopify, 2.5% on the Shopify, and 2.7% on the Basic. If not using Shopify Payments, transaction fees might be appealing to many — from 0.4% on the Advanced Shopify to 2.0% on the Basic.
Shopify Partner Statistics and Demographics
One of the secrets behind Shopify’s success is its care for its merchants. On their part, sellers on Shopify are quick to innovate and introduce payment options such as “Buy Now Pay Later.”
18. Shops with Shopify Capital funding average 36% higher sales.
Since 2016, Shopify Capital has provided accessible funding amounts from US$200 to US$2 million. Overall, it has made over US$6 billion available to thousands of merchants. Most merchants spend the capital on purchasing inventory, expanding their business, or investing in marketing.
19. As of November 2021, the number of total visits was 62.28 million, Shopify visitor statistics reveal.
That marks a 9.82% increase from October, when 56.7 million people visited the platform. Notably, the average visit duration is three minutes and eleven seconds. What’s more, the average user opens around three pages per visit.
20. On Shopify, the percentage of merchants who offer the “Buy Now” option has increased by 60% since the pandemic started.
The “Buy Now Pay Later” option is most popular among millennial fathers. Shopify’s US data shows that 41% of consumers who have tried the payment option are between the ages of 18 and 34, 56% of them are men, and 52% have children at home.
Most social traffic came from YouTube — 30.40%. Facebook wasn’t far behind with 30.32%. Reddit, the social news community, generated 12.99% of all social traffic. Pinterest drove 4.59% of social traffic, and LinkedIn contributed 5.17%.
22. Shopify demographics uncover that 52% of merchants are female.
In terms of age, more than a third of all Shopify merchants (37.5%) are between 25 and 34 years of age. Those aged 35–44 comprise 30.0% of all Shopify merchants.
23. Demographics on Shopify estimate that 65.8% of its followers on Instagram are male.
The average engagement rate of Shopify’s Instagram profile lingers around 0.10%. Each post by the company is liked 987 times and commented on 56 times on average.
Shopify’s Instagram audience is predominantly interested in beauty and fashion (56.09%), followed by business and career (46.78%) and art and design (45.09%).
Having looked into the top Shopify facts and stats, one could say that the platform has a bright future. Notably, Shopify’s sales figures tell a story of constant growth. Moreover, Canadian entrepreneurs seem eager to leverage the platform’s success, which is reflected in the number of stores opening every year.
What percentage of Shopify stores fail?
It is estimated that 95% of Shopify stores close before making a single sale. Following that, only 5% of stores make it to the end. Poor choice of niche or product is one of the few reasons many stores struggle to make profits.
How many Shopify stores were there in 2020?
The total number of Shopify stores is around 500,000. It is hard to get the exact figure, as there are many inactive stores and new ones are opened every day. What is certain is that the number of stores has been growing steadily since 2006.
How many Shopify stores are successful?
In 2019, Shopify estimated that more than one million merchants were doing business on the platform.
However, it is hard to define a “successful” store. For some, it is a store that is breaking even (hasn’t closed). For others, a store has to generate huge profits to be considered successful.
How much money does the average Shopify store make?
Based on a December 2021 survey, the average revenue per customer was US$90. Notably, the US$201 revenue would put you in the best 20% of Shopify stores. Earning more than US$319 per customer would put you in the top 10%.
Was Shopify profitable in 2021?
According to the Shopify Q3 2021 Financial Results, total revenue was US$1,123.7 million, up 46% YOY. According to Shopify statistics, operating loss was $4.1 million (0.4% of revenue), versus income of $50.6 million, or 7% of revenue, for the comparable period a year ago.