Shopify Statistics (2024): Stores, Customers, Revenue & Growth

Highlights. In 2023, Shopify earned a total revenue of $7.06 billion.

Shopify is currently the world’s #1 e-commerce platform by number of websites, followed by WooCommerce and Wix.
The average transaction value for a Shopify order in the U.S. is $81.26.
Shopify merchants contribute $490.5 billion to the global economy.
Most sellers on Shopify pay less than $50 per month for their subscription to the platform.

Line Graph: Shopify Yearly Revenue Growth in millions from 2014 ($105) to 2023 ($7,060) according to Shopify

Shopify 2024 Statistics

In the first half of 2024, Shopify generated $3.91 billion in revenue, a 22.0% increase from the same period in 2023.

In the second fiscal quarter of 2024 (Q2), the quarterly Gross Merchandise Volume (GMV)* for Shopify purchases increased 22.2% year-over-year (YoY) to $67.2 billion.
Shopify’s quarterly revenues in 2024 Q2 increased 20.7% YoY to $2.05 billion.
72.5% of Shopify’s 2024 Q2 revenue was generated through merchant solution services.
Subscription solutions account for the remaining 27.5% of revenue.
Shopify’s gross profit in the first half of 2024 totaled $2.00 billion, up 29.0% from the first half of 2023.
Shopify’s Monthly Recurring Revenue (MRR)** for 2024 Q2 averaged $169 million per month, 21.6% higher than the same period in 2023.
In 2024 Q1, the Gross Payment Volume of Shopify Payments was $36.2 billion, up 31.6% from 2023 Q1.

*GMV is the total dollar value of orders made through the Shopify platform, including shipping and taxes.
**Monthly Recurring Revenue is calculated by multiplying the number of Shopify merchants with subscription plans by the average monthly subscription fee.

Line Graph: Shopify Quarterly Revenue in millions from 2022 Q1 ($1,204) to 2024 Q2 ($2,045) according to Shopify

Shopify Annual Revenue Statistics

Shopify’s total revenue in 2023 was $7.06 billion, 26.1% higher than in 2022.

For every $1 in revenue that Shopify generates, merchants earn $40.82.
Shopify earned a $3.52 billion gross profit in 2023, up 27.6% from the previous year.
Net income for Shopify in 2023 equaled $132 million, up 104% YoY.
Net losses for Shopify in 2022 equaled $3.46 billion, 86.6% of which were net unrealized losses on equity and other investments.
Shopify’s operating expenses totaled $4.93 billion in 2023, consuming 69.9% of revenues.
74.0% of Shopify’s 2023 revenue was generated through the company’s merchant solutions, a 0.75% larger proportion than in 2022.
Subscription solutions accounted for the remaining 26.0% of revenue, a 2.08% smaller proportion than in 2022.
In 2023, Shopify processed an average of 199 million orders per month, up 20.4% YoY.
Over the 2023 Black Friday – Cyber Monday shopping weekend, the Shopify platform served as many as 967,000 requests per second.

Line Graph: Active Shopify Stores in millions from 2022 Q1 (1.65) to 2024 Q3 (2.40) according to Store Leads

Shopify Company Statistics

Shopify is a comprehensive e-commerce platform launched in 2006 in Ottawa, Canada.

With a market capitalization of $82 billion, Shopify is the world’s 7th largest online services company.
Shopify accounted for $490.5 billion in global economic activity in 2022.
In May 2023, Shopify reduced its employees by 23% with the sale of its logistics businesses.
Founder and CEO of Shopify, Tobias Lütke, earns a base salary of $1 CAD, with the rest of his compensation granted in stock options.
Shopify’s average base salary for all other Named Executive Officers is $854,800.
In 2023, Shopify spent $1.73 billion on research and development.

Line Graph: Shopify Gross Merchandise Volume in billions from 2014 ($3.7) to 2023 ($235.9) according to Shopify

Shopify Platform Statistics

Shopify powers 28% of all e-commerce websites, making it the most used e-commerce platform worldwide.

5.47 million total websites have been created through the Shopify platform.
3.12 million U.S. websites use Shopify, or 57.0% of all Shopify-powered sites.
There are 2.40 million live stores running on Shopify or 44.0% of all Shopify-built websites.
The number of active Shopify stores in 2024 Q3 has increased by 8.70% YoY.
Shopify has a 99.99% uptime as a platform.
68.1% or 1.64 million Shopify stores have a .com domain.
4.50% more merchants switch to Shopify from another e-commerce platform than leave Shopify for a competitor.
All Shopify websites are Level-1 PCI Compliant and have 256-bit SSL Certification for reliable security.

Line Graph: Shopify Quarterly GMV in billions from 2022 Q1 ($43.2) to 2024 Q2 ($67.2) according to Shopify

Shopify Retailer Statistics

In 2023, the Gross Merchandise Volume for products sold through Shopify was $235.9 billion, up 19.6% from 2022.

There are over 2.40 million unique sellers on Shopify.
The total value of sales made through the Shopify platform is approximately $1 trillion.
During Black Friday and Cyber Monday 2023, Shopify merchants collectively made $9.3 billion in sales, up 24% YoY.
Retail sales on Shopify increased 40% YoY in 2022.
There are 609 Shopify web stores with an estimated $1 million or more in sales revenue.
Over 656,400 or 27.3% of Shopify online stores sell less than ten products.
Only 7.77% of Shopify merchants use third-party dropshipping services.
The majority of Shopify sales use USPS for shipping, with 148,700 merchants opting for this carrier.
48.4% of Shopify stores use Instagram to engage with customers, making it the most popular social media platform for merchants.
43 B2B companies currently use the Shopify platform.
30 websites in the U.S. use Shopify B2B, 69.8% of all Shopify B2B users.

Pie Chart: Shopify Stores by Number of Products according to Store Leads

Shopify Conversion Rate Statistics

The average conversion rate † for Shopify stores is 1.4%.

1.2% is the average mobile conversion rate for Shopify; 20% higher than the average mobile conversion rate for all websites.
On desktop, the average Shopify conversion rate is 1.9%, 58.3% higher than when customers shop on mobile devices.
4.6% is the average add-to-cart rate for Shopify websites; 9.8% lower than the rate for e-commerce websites overall.
The top 20% of Shopify stores have an average add-to-cart rate of 7.5%.
45.2% is the average checkout completion rate for Shopify e-commerce websites.
Shopify customers in the U.S. who start checking out in a Shopify web store are 1.8x more likely to place an order with an automatic discount.
66% of orders made on Shopify merchants’ sites are placed from mobile devices.

†Conversion rate is the number of purchases divided by the total number of browsing sessions.

Pie Chart: Shopify Order Volume by Device including Desktop (34%) and Mobile (66%) according to Shopify

Shopify Customer Statistics

Over 675 million unique shoppers purchased from Shopify merchants in 2023.

Over 50% of Shopify web stores have repeat customers who purchase twice or more from their store.
14% of customers on Shopify have bought from the same store twice.
Customers in the U.S. spend an average of 23.5 minutes completing a Shopify purchase.
U.S. consumers spend an average of $81.26 per Shopify e-commerce transaction.
The average revenue per paying customer for Shopify stores is $92.
For Americans shopping online through Shopify, the peak transaction time is 5:00 p.m., while the peak browsing time is midnight.
Shopify Segmentation allows merchants to gain valuable insights from their store’s customer data.

National Map: Shopify GDP Impact by State by percentage of the state's GDP according to Shopify

U.S. Shopify Statistics

The GDP impact of Shopify retailers in the U.S. was $128.7 billion in 2022, up 11.4% YoY from 2021.

Shopify is the largest e-commerce platform in the U.S., with 30% of online retailers using the platform.
71% of Shopify’s revenue is from their U.S. operations.
Shopify accounts for 10% of the total e-commerce trade in the United States.
U.S.-based Shopify merchants generate $270.8 billion in business activity annually.
Shopify directly employs 463,000 people and creates a total of 1.11 million jobs in the U.S.
$7.3 billion is the total value of goods exported from the U.S. by Shopify merchants.
66% of U.S. Shopify sellers run their business from a major metropolitan area; 34% are rural entrepreneurs.
California Shopify merchants contribute $57.7 billion annually in business activity, followed by New York at $24.5 billion.
Shopify’s GDP impact in Utah accounts for 1.22% of the state’s total GDP, the most of any state.
Exports by Shopify merchants in South Dakota grew 336% from 2021 to 2020 to $12.6 million.
With an 11% increase in total jobs supported since 2021, Delaware is the top-ranking state on the Shopify Entrepreneurial Index.
134,000 Shopify employees work in California, 29% of the company’s U.S. workforce.

100% Stacked Bar Graph: Shopify Global Operations by percentage of merchants and percentage of revenue according to Shopify

Global Shopify Statistics

Retailers in over 175 countries sell on the Shopify platform.

In 2021, Shopify merchants contributed at least $1 billion in impact in 35 countries.
Entrepreneurs in the Shopify ecosystem support 5.2 million jobs worldwide.
Shopify retailers facilitate $28 billion in global exports each year.
Shopify revenues outside the U.S. and Canada totaled $2.02 billion in 2023, or 28.7% of the company’s total revenue.
28% of all traffic to Shopify-powered sites comes from buyers outside the merchant’s home country.
Shopify merchants in developing countries generate $6.5 billion in revenue and export $2.6 billion in goods.
At 34.7%, Shopify web stores in the Czech Republic had the highest business activity growth in 2022.
After the United States, U.K. Shopify sellers export the highest total value of goods at $4.0 billion.
Shopify is compatible with 32 languages, including English, Spanish, Chinese, and German.
444,100 Shopify merchants provide shipping options to over 200 countries.

Shopify Merchant Plans
Plan	Pay Monthly	Pay Yearly
Shopify Starter	$5	$60
Basic	$25	$228
Shopify	$65	$588
Shopify Retail	$89	$948
Advanced	$399	$3,588
Shopify Plus	$2,300	$27,600

Shopify Pricing Statistics

Most Shopify merchants are on monthly subscription plans that cost less than $50.

Merchants can try Shopify for free for three days and pay $1 per month for a three-month trial period.
At $25 per month or $228 per year, the Basic plan for individuals and small businesses includes basic reports and two staff accounts.
The Shopify plan for small businesses costs $65 per month or $588 per year and includes professional reports and five staff accounts.
The Advanced plan for medium to large businesses costs $399 per month or $3588 per year and includes a custom report builder and 15 staff accounts.
At only $5 per month, the Shopify Starter plan is the least expensive and includes a simple online store and mobile point of sale.
Designed for in-store businesses, Shopify Retail costs $89 per month or $948 per year. It includes two admin accounts, unlimited POS logins, and a basic online store.
Shopify Plus is the highest subscription tier, with monthly plans starting at $2,300.

Pie Chart: Revenues of Companies Using Shopify Plus according to Enly

Shopify Plus Statistics

32,200 businesses use Shopify Plus, accounting for 0.74% of all Shopify websites.

There are 18,700 Shopify Plus merchants in the U.S., accounting for 58.3% of all websites using Shopify Plus.
Shopify Plus plans start at $2,300 per month with variable pricing for high-volume businesses.
Shopify Plus merchants using Shop Pay have a 50% higher mobile conversion rate versus standard checkout.
Shop Pay for Shopify Plus also leads to a 60% faster checkout.
Merchants using Shopify Audiences, an exclusive feature for Shopify Plus merchants, have a 6.6 times higher return on ad spend.
Shopify Plus is most commonly used by companies with 10 to 50 employees and $1 million to $10 million in revenue.
12,400 or 0.24% of e-commerce sites are powered by Shopify Plus.
17% of Shopify Plus merchants are in the retail industry, the most of any category.
61% of Shopify Plus customers are small businesses with less than 50 employees.
85.7% of Shopify Plus merchants earn over $1 million in yearly revenue; 1.65% make over $1 billion.

Pie Chart: Shopify Stores by Product Category according to Statista

Shopify Apparel Statistics

Approximately 1 out of 3 Shopify merchants are apparel retailers, the most of any product category.

Over 528,000 apparel retailers use the Shopify platform.
Between 2023 and 2024, the number of apparel merchants on Shopify grew by 1.52%.
Shirts and tops are among the highest-ranking products sold on Shopify in almost every country.
108,300 or 20.5% of Shopify apparel merchants sell clothing accessories, the most popular apparel category.
62,860 or 11.9% of apparel merchants sell women’s clothing.
9,930, or around 2%, sell men’s clothing.
46,070 or 8.7% sell casual apparel.
There are 26,090 Shopify retailers selling footwear.
290,190 or 54.9% of Shopify apparel retailers are in the U.S.
11% of Shopify Plus merchants sell apparel & fashion, the second highest share after general retail.

Bar Graph: Top Shopify Apps by Number of Downloads, including Shopify Inbox (385K), Geolocation (373K) and Product Reviews (360K) according to Store Leads

Shopify App Store Statistics

There are over 10,000 apps in the Shopify App Store for merchants to customize their store.

With 16.0% of Shopify merchants installing, Shopify Inbox is the most popular app by number of downloads.
Shopify Partners, businesses that create apps and solutions for Shopify merchants, generate over $12.5 billion in revenue each year.
Shopify-created apps are typically free for merchants, while third-party apps often charge a fee.
85% of Shopify retailers rely on apps from the Shopify App Store to run their business.
Third-party app developers in the Shopify App Store earn 100% of the first $1 million in-app purchases and 85% of revenue over $1 million.
Customers who track their orders with the Shop app have a 9% higher repurchase rate.
Shopify retailers using the Shopify Audiences app can reduce customer acquisition costs by up to 50%.
All applications in the Shopify App Store must pass a 100-checkpoint review before approval.

Bar Graph: Top Shopify Themes by Number of Websites including Dawn (608K), Debut (169K), and Refresh (105K) according to Store Leads

Shopify Theme Statistics

There are 13 free themes and 204 paid themes available directly through Shopify.

608,380 or 25.3% of Shopify web stores use the Dawn theme, making it the most popular.
7.0% of Shopify stores use Debut, the second-most popular Shopify theme.
Paid Shopify Themes range in price from $100 to $500.
Dawn is the most popular free Shopify Theme; Prestige is the most popular paid option.
Only 1.48% of Shopify merchants use a custom theme for their website.
With a 36% market share, Shopify Theme design company Fluorescent is the most popular theme developer.
Shopify Partners earn 100% of revenue up to $1 million from their themes sold through the Shopify Theme Store and 85% on revenue over $1 million.

Double Line Graph: Shopify Carbon Removal Funding including Signed carbon removal contracts and Funding to carbon removal suppliers from 2020 to 2023 according to Shopify

Shopify Sustainability Statistics

As of 2023, Shopify has signed $55.7 million worth of carbon removal contracts to sustainably remove 84,400 tonnes of carbon from the atmosphere.

Shopify has been carbon-neutral since 2019.
Shopify’s Sustainability Fund contributes at least $5 million annually to technologies and projects fighting global climate change.
As an international company, 82.3% of Shopify’s operational carbon emissions result from business travel.
Over 6,500 Shopify merchants have installed the Planet app, allowing them to fund carbon clean-up initiatives to offset their shipping emissions.
Over 7 million carbon-neutral orders have been made on Shopify.

These data and insights were compiled by the Capital One Shopping team based on publicly available data.

Shopify Statistics