43 Shopify Statistics You Need to Know in 2024

Shopify, over the years, has become the ultimate e-commerce platform that makes it easier for people to launch their businesses online and generate revenue. As of now, an estimated 4.8 million businesses use Shopify to host their online businesses.

The platform has a user-friendly interface, is easy to set up (no coding skills required), and has a plethora of themes available in the Shopify app store, allowing businesses to find solid founding steps that help them get started.

Besides, the customer support services offered by Shopify respond promptly and are always willing to help people do more with their store. Since its inception in 2006, Shopify has grown significantly, allowing dreams and ideas to take off with a few simple clicks.

Here are some compelling Shopify statistics that prove how Shopify can help give wings to your business ideas!

A Few Quick Shopify Facts: Top Picks (2024)

1. Purchases made by Shopify customers have significantly grown from $300 million in 2019 and are expected to reach $4.2 trillion in 2024. The significant rise in numbers indicates the scalability potential of the e-commerce platform.
2. Along with clothes, vitamins and supplements, skincare, art and crafting materials, and candles are popular items sold on Shopify. 
3. The most popular Shopify stores are based in the US, France, the UK, and Canada. 
4. There are an estimated 10309 apps (as of now) available on the Shopify Store. These apps allow a business to include a wide spectrum of features in their store. 
5. Shopify has over 1.75 million merchants who operate from 175 countries. The ease of using the platform allows merchants to set up and manage their own storefronts. 

Shopify Revenue Statistics

Starting in 2006 to sell skateboards, Shopify has evolved into a platform that allows people to tap into their ideas and give them the form of a full-fledged business. Here are some solid Shopify statistics proving why it is the ultimate platform that can drive results for your business:

6. The year 2023 was bright for Shopify stores as they generated $7.06 billion in revenue, compared to $5.6 billion in 2022. Ever since its inception, Shopify has been a promising platform that helps ideas take shape for small businesses. 
7. The revenue has grown from $23.71 million in December 2012 and is projected to hit $4.2 trillion by the end of 2024. These retail e-commerce sales are from a combination of homegrown and international brands. 
8. Shopify alone contributed $444 billion in global economic activity (which is the total sum of business activities that occur within a country and between countries). The figures are expected to grow in the upcoming years, boosting global economies. 
9. The monthly recurring revenue (also known as MRR) for Shopify hit a new high at $151 million. Shopify Plus contributed $48 million to the MRR, which is estimated to be a 32% increase from the previous year. 

Shopify Usage Statistics

With Shopify continuously growing, it has made it possible for businesses dealing in a wide niche of products and services to create a highly functional website. As the Shopify Store has an extensive library of themes and add-ons to choose from, a store can create the ultimate user experience for its target audience. 

Here are some Shopify statistics showcasing how it has become the talk of the town:

10. In 2024, there are 48000+ Shopify Plus Stores operating globally. The Plus benefits are available only to businesses that have generated revenue anywhere between $1 million and $500 million. The unlocked feature enables these businesses to scale and grow further. 
11. Shopify brought in $1.84 billion in subscription revenue for the year 2023. This strongly indicates the trust and commitment store owners have in Shopify’s ability to help scale their business ideas. 
12. Another critical statistic indicates that Shopify generated $1.4 billion in merchant solutions revenue, that is, revenue obtained from merchant services, including shipping and payments. This number shows the growth made by the e-commerce platform from $4.51 million in 2012. 
13. Shopify has an estimated 2.1 million active users on a daily basis. It shows how the platform is constantly on the move and the plethora of opportunities that businesses can capitalize on as a result. 
14. The net cash position (the position a company holds with regards to its liquidity position) stands at $4.3 billion.

Shopify Growth Statistics

The key reason Shopify is so highly regarded and opted for is due to the scalability it can offer. It is estimated that many Shopify store owners start generating revenue within the first month of setting up their website. 

Here are some Shopify statistics showing how the e-commerce platform has grown over the years:

15. In the year 2022, Shopify generated a revenue of $5.6 billion, which increased to a whopping $7.06 billion in 2023, a significant increase of $1.46 billion. 
16. The gross payment volume (the total amount of monetary value that is processed by payment systems like merchants, payment facilitators, and payment processors over a specified time) climbed to $36.2 billion compared to $27.5 billion in 2023. 
17. In 2023, Shopify generated enormous revenue from different regions. They include North America (generated $5.04 billion), Latin America (generated $69 million), Europe, the Middle East, and Africa (generated $1.26 billion), Asia Pacific, Australia, and China (generated $699 million).

Shopify Stores Statistics

The most advantageous feature of using the Shopify website is the seamless integrations that Shopify offers with Google Ads accounts as well as with Meta Ads accounts (including Facebook and Instagram). If you sell on Pinterest, you can use the Pinterest for Shopify app and connect your Shopify store with your Pinterest business account. 

Shopify is constantly magnifying the global e-commerce landscape, and here are some statistics showing how the platform has evolved:

18. Seventeen thousand five hundred domains are registered to 10,000+ merchants and are currently running on Shopify Plus. This allows these merchants to create a unique shopping experience for their customers, resulting in favorable brand perception and loyalty.
19. Fashion businesses are the most popular genre on Shopify, with 500K stores. Shopify even introduced the ‘Buy with Prime’ service to increase the popularity of Shopify Payments.
20. An average store on Shopify generates approximately $5,583 in revenue per month, which amounts to approximately $66,996 in revenue annually. These numbers are encouraging for small businesses that aim to start generating revenue before they can expand their business further. Such revenue rates are motivating and reinforce faith in the e-commerce platform’s ability to help small businesses scale in their industry. 
21. A single Shopify store can be presented in 20 languages, increasing the brand’s global footprint. Unfortunately, this feature is not available for Shopify Lite users. Due to this flexibility in languages, businesses can increase their potential to take their business travel across landscapes.

Shopify Market Share Statistics

Shopify has been growing over the years and smashing all the past records. Here are some pivotal Shopify statistics highlighting how it has performed in terms of global e-commerce and retail sales worldwide: 

22. As of 2024, Shopify had a market share of 17.31% in the e-commerce industry. Nearly 56.88% of stores in the US are run on Shopify, and many small and medium-sized businesses consider it a dependable and scalable platform. Shopify ranks 2nd in the top e-commerce platform list. 
23. Shopify has a market cap of nearly $80.73 billion, making the e-commerce platform a highly valuable company in the market cap listing.
24. Globally, there are more than 4.4 million live Shopify stores that are actively engaging in business transactions, and every minute, this number increases due to the incredible flexibility and features that are offered by the e-commerce platform.
25. During the COVID-19 pandemic, Shopify witnessed an increase in businesses registering and starting their operations on the e-commerce platform. The revenues were reported to have nearly doubled during that time. It is estimated that Shopify, in just two years, added almost 2.594 million new stores after the COVID-19 pandemic.

Shopify Themes Statistics

The most significant benefit of using Shopify to create your business website is the range of themes and apps available. This prevents a potential Shopify shop owner from creating a website from scratch; instead, the e-commerce platform’s simple drag-and-drop feature allows people to create their own website using the wide array of themes and features available. If you want to add more customized features, Shopify Partners has a vast list of vendors you can connect with. 

Here are some compelling Shopify statistics to take note of:

26. Shopify understands that themes are essential for getting your website seen by your customers and perceived in the way you want it to be. Due to this, the Shopify Store has over 160 customizable and mobile-responsive themes that can be purchased and personalized to meet the brand’s needs. 
27. It is estimated that only 0.97% of Shopify businesses have a custom theme. This figure indicates the extent of options and versatility that are offered by the Shopify Store and the ideas and creativity that are available to explore.
28. Businesses can hire a Shopify theme designer from the Shopify Partner’s page and start creating websites that meet individual needs. The charges usually start from as low as $20.

Shopify Plus Statistics

Shopify Plus is an enterprise e-commerce software system designed to support the growth of rapidly growing businesses that generate high revenues. Additional support and assistance can significantly increase success rates. The benefits encourage Shopify businesses to work towards continuously growing and unlocking Plus benefits. 

Here are some compelling Shopify Plus statistics to know about:

29. An estimated 38,357 domains are currently running on Shopify Plus, and this number is expected to grow in the upcoming years. 
30. Shopify Plus is loaded with resources to help organizations scale their businesses to new heights. 
31. Shopify and Shopify Plus combined account for 12% of the global market share. 
32. Shopify accounts for 21% of the world’s top 10,000 eCommerce websites in terms of traffic.
33. It takes an average of 90 days to build and launch a website on Shopify, compared to the longer time spent on other websites. Reducing the overall cost and resources spent on developing and customizing a website.

Shopify App Statistics

The Shopify app allows business owners to take care of their business operations (sales, inventory management, and more) from a single dashboard. It makes it easier to manage orders, inventory payments, shipping, and more right at your fingertips.

Here are some compelling Shopify app statistics to know about:

34. The Shopify App Store has 10,000+ apps, 300+ Shopify Plus Partners, and 80+ Shopify Plus Certified Apps that businesses can use on their websites.
35. Nearly 25 million apps have been downloaded by Shopify store owners.
36. Shopify stores can easily integrate with social media, allowing them to sell on these platforms without any trouble. It is noted that 75.1% and 68.3% of Shopify stores use Instagram and Facebook, respectively, and 45.3% of stores use LinkedIn to advertise their products and generate sales.
37. There are at least 7,000 Shopify app developers offering an unbelievable amount of convenience in terms of services and available apps for integrations.
38. 87% of Shopify merchants use apps available on Shopify. It is also estimated that 4 out of 5 merchants may use a third-party app. These figures collectively indicate the versatile nature of the e-commerce platform.

Other Interesting Shopify Statistics

Here are more Shopify statistics that are worth noting:

39. 65% of shoppers tend to keep the free delivery aspect in mind when shopping online. People are, in fact, more willing to wait extra days for free delivery.
40. 2 in 3 people opt to shop online and prefer to pick up their orders from the store. It saves them money (in terms of discounts available) without taking away the experience of visiting the store.
41. Two-thirds of consumers prefer shopping online for apparel and footwear. It can mostly be due to the wide range of options available, discounts, and offers that can be availed.
42. USPS, UPS, and FedEx are the courier services most commonly used by Shopify stores.
43. Shopify Payments has a wide range of payment options that can save stores from paying any third-party transaction fees. Shopify Payments’ penetration rate was nearly 49% in 2023 and was projected to grow further by 2025.

6 Recent Key Developments In Shopify

Shopify is constantly working to add more features and integrations to benefit its users. Here are some of the most recent developments that delighted Shopify business owners:

1. Shopify Magic was launched

Shopify Magic is a treasure trove of free AI-enabled features that can be easily integrated into Shopify products and workflows. They aim to simplify how a business runs and grows using the platform. Shopify Magic also brings together the power of the latest AI advancements to offer a more personalized and contextual experience. The support ranges from store building, customer support, inventory management, and even marketing.

2. Sidekick was introduced

Sidekick is powered by Shopify Magic and is an AI-enabled e-commerce assistant that makes it easier for organizations to start and run their businesses on the global e-commerce platform Shopify. Sidekick is trained to have access to context, and data while having the ability to generate highly relevant and customized support for an array of tasks.

The addition enables businesses to automate everyday tasks and has the ability to promote meaningful conversations with the AI-powered assistant and help you get started with the creative thinking process.

The add-on is also helpful in tackling time-consuming tasks and helps a business make informed decisions by recommending carefully curated recommendations. The AI assistant is easy to use and doesn’t require any technical expertise.

3. Got Powered by OpenAI’s ChatGPT API

With the rapidly growing application of ChatGPT, Shopify recently introduced its dynamic chatbot powered by OpenAI’s ChatGPT AI, which can intuitively understand the preferences of customers, offering personalized and quick product suggestions based on what the target audience is looking for.

The chatbot integrates entirely with the inventory system, ensuring your customers always find what they are looking for within a few seconds, improvising the overall shopping experience, and encouraging quick purchases. It also ensures that customers have a pleasant experience and a positive brand perception.

4. New introductions

Aside from the AI integrations, Shopify has also introduced Shop Pay Installments into the Shopify POS. Due to this, it becomes easier for retail merchants to offer in-store shoppers similar flexibility in payment options as those offered online. It simplifies the overall process while giving shop owners the confidence to choose an option that works best for them.

Another key tech introduction has been Shopify Bill Pay, which allows for streamlining the expense management process. The tool helps merchants manage and make payments to vendors directly from Shopify’s admin panel. Shopify Credit is also a vital pay-in-full business credit card that has been introduced exclusively for Shopify merchants.

It comes with the feasibility of showing tailored credit limits based on sales with no credit checks, interest, or fees. It also allows merchants to earn cashback savings on trending eligible spend categories.

5. Shopify checkout optimization

Optimization of the checkout page is pivotal to ensuring a safe and smooth checkout experience for your customers. In light of this, Shopify optimized checkout to ensure more speed and convenience.

It comes after a redesign of the checkout to streamline the one-page checkout experience. Shopify also increased its extensibility with new updates and APIs.

As a result, more businesses will experience fewer cart abandonment issues and more successful sales cycles. It is a relief for companies that are exhausted from trying to reach out to potential customers who leave the checkout page out of frustration or because they are indecisive about the purchase they are making.

6. App integration announcement

Shopify always aspires to offer a simple and direct solution to its customers, and with an app integration with Amazon, Shopify aims at offering its US merchant sector the ability to include the ‘Buy with Prime’ app into the Shopify checkout page for transactions that are getting processed by Shopify Payments. Amazon Integration Plus streamlines any rough folds with easy data and inventory syncing.

Bottomline

Shopify is known for its versatile usability and the feasibility of creating websites within a matter of a few weeks. The vast range of apps, themes, and customizations available further makes it a cakewalk for business owners to design a website that aligns with their brand personality.

Besides, the seamless integration of analytics tools and social media makes it easier for businesses to track their source of traffic and make conscious attempts to improve their products and services. These Shopify statistics are a strong indicator that if you are planning to start an e-commerce business of your own, then Shopify promises growth and scalability, enabling initial ideas to turn into revenue-generating businesses.