Shopify Revenue and Merchant Statistics in 2023
by Brian Dean · Updated Mar. 27, 2023
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, they have processed $79.5 billion in eCommerce sales over the first 6 months of 2021 alone. The company has also generated $2.10 billion in revenue in 2021.
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 2023. From revenue to market share, here’s a summary of what we’ll cover:
- Shopify Top Stats
- How many Shopify stores are there?
- Shopify merchants
- Shopify merchants by region
- Shopify gross merchandise volume
- How many people buy from Shopify stores?
- Shopify revenue
- Shopify “subscription solutions” revenue
- Shopify merchant solutions revenue
- Shopify revenue by region
- Shopify monthly recurring revenue
- Number of apps on the Shopify App Store
- What’s the Shopify market share in the US?
- How many people work at Shopify?
Shopify Top Stats
- 1.75 million merchants sell using the Shopify platform.
- Shopify processed $79.5 billion in order value in 2021.
- Shopify’s revenue as of June 2021 is $2.10 billion.
- The Shopify App Store contains 7,000 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?
3.76 million live websites use Shopify. The majority of domains (69.67%) 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 | 2,621,415 |
| United Kingdom | 150,427 |
| Australia | 94,575 |
| Canada | 89,252 |
| Germany | 73,142 |
| France | 58,673 |
| Brazil | 41,835 |
| Netherlands | 34,458 |
| India | 28,810 |
| Italy | 23,948 |
Shopify has a dedicated plan for enterprise customers, called Shopify Plus. This costs $2,000 per month.
6.082 live websites use Shopify Plus. 67.49% 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 | 4,105 |
| United Kingdom | 491 |
| Canada | 357 |
| Australia | 351 |
| Germany | 96 |
| France | 58 |
| Netherlands | 53 |
| New Zealand | 47 |
| Spain | 39 |
| Denmark | 39 |
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%) |
| Europe, Middle East and Africa | 437,250 (25%) |
| Asia Pacific, Australia and China | 262,350 (15%) |
| Canada | 104,940 (6%) |
| Latin America | 69,960 (4%) |
Source: Shopify
Shopify gross merchandise volume
Shopify facilitated $119.58 billion worth of transactions in 2020. As of June 2021, Shopify has generated $79.5 billion in gross merchandise volume (GMV). Shopify’s GMV has increased by $12.1 billion (40%) 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 |
| 2021 (Q1+Q2) | $79.5 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 generated $988.6 million in revenue during Q1 and $1.11 billion in revenue during Q2, totaling $2.10 billion in revenue for 2021 alone. This is an increase of 57% year over year. Additionally, Q2 2021 was the first quarter that Shopify achieved a billion-dollar quarter.
Shopify’s annual revenue has increased 6.5x from 2016 to 2020.
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 |
| 2021 (Q1+Q2) | $2.10 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 $320.7 million and $334.2 million in Q1 and Q2 respectively, amounting to $654.9 million in subscription revenue as of June 2021. This accounts for 31.06% of total company revenue and shows a 70% growth rate year over year.
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%) |
| 2021 (Q1+Q2) | $654.9 million (31.06%) |
Source: Shopify.
Shopify merchant solutions revenue
Shopify’s merchant solutions revenue primarily consists of payment processing fees. Other revenue sources in this segment include referral fees, advertising revenue and sales of POS hardware.
Shopify generated $668 million in Q1 and $785.2 million in Q2 in merchant solutions revenue as of June 2021, representing 68.93% of total revenue. Merchant solutions have been Shopify’s main revenue source since 2016.
Last year, Shopify’s merchant solutions revenue increased 2.16x.
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%) |
| 2021 (Q1+Q2) | $1.45 billion (68.93%) |
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. As of June 2021, monthly recurring revenue has gone up to $95.1 million.
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 |
| Q2 2021 | $95.1 million |
Source: Shopify
Number of apps on the Shopify App Store
Shopify has 7,000 apps available for download in the Shopify App Store, spanning 12 different categories. The Shopify app marketplace has added 3,300 new apps since 2019.
Since 2015, the Shopify app count has increased by 677%.
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 |
| Q2 2021 | 7,000 |
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 | Employees |
|---|---|
| 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 2022.
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.