Shopify is one of the most popular eCommerce development platforms, has a huge amount of businesses now adapting Shopify Website Development. Due to its interesting and useful features, Shopify has a huge fan base in the online business industry. Read the blog further to know more about various interesting Shopify statistics, revenue, and usage numbers in 2022.You’re probably aware that Shopify Website Development is a big deal. Every day, millions of merchants use it. On a global scale, it has developed from a small Canadian start-up to a colossal eCommerce platform. But just how large is Shopify Inc.?Shopify is a well-known eCommerce development platform with over 1.75 million users. Shopify, which was founded in 2006, exceeded $1 billion in gross merchandise volume (GMV) in 2013. In just the first six months of 2021, they processed $79.5 billion in eCommerce sales. In 2021, the company made $2.10 billion in sales. Every year, 457 million customers place orders with Shopify merchants. Since 2014, there has been a 16.23x rise.
Quick Facts About Shopify
– Shopify, Started in Ottawa, Canada by three Canadians in 2006. These Canadians were inspired by the poor shopping experience with snowboarding equipment.– With over 7000 employees and contractors working with the company, Shopify has become one of the most popular eCommerce platforms with a 23 percent market share in the US.– Shopify is used by many of the startups. Therefore, you don’t need to be an expert to use it for development. – Considered second only to WooCommerce, it outpaces various popular platforms like Squarespace, Wix, Weebly, Magento, and BigCommerce– Shopify is a highly flexible and easy to use eCommerce platform. It has over 6000 applications on the Shopify store to tailor the customer experience. – There are more than 100 free and paid Shopify themes available. – In any retail establishment, the Shopify POS system enables the integration of an online store.– The Shopify Plus enterprise edition, among other things, provides for more customisation.– Most business owners can afford Shopify’s pricing levels, which start at just $29 per month for the basic package.– Affiliates can earn an average of $58 for each user that signs up for a paid plan through Shopify’s extensive affiliate network.– Shopify has a big pool of Shopify professionals who can help with marketing and Shopify SEO.
Shopify Gross Merchandise Volume (GVM)
Gross merchandise volume is calculated using the dollar amount of merchandise sales numbers from all Shopify stores. These figures don’t directly contribute to Shopify’s full-year income (because of the fact that the money went to merchants), but they do demonstrate the rise of payment processing revenue and usage from Shopify’s perspective.Shopify facilitated transactions worth $119.58 billion in the year 2020. As of June 2021, it generated a gross merchandise volume of $79.5 billion. The Gross Merchandise Volume of Shopify has increased by $12.01billion i.e., 40% over the past year which comes out to be a very great statistic.
Source –https://backlinko.com/shopify-storesShopify’s Gross Merchandise since 2012 has been represented below in a chart:
Source – https://backlinko.com/shopify-stores
Shopify Sales and Revenue Statistics
Shopify’s revenue was $1.124 billion in the third quarter of 2021.When the sales reports for the first and second quarters were combined, total Shopify revenue for 2021 was $3.231 billion, making it the company’s highest-earning year ever.Shopify’s revenue increased by 57% as compared to the past year. In fact, it wasn’t until 2021 that Shopify’s quarterly revenue surpassed a billion dollars.
Source – https://ecommerce-platforms.com/articles/shopify-revenue
Shopify’s revenue has continuously climbed over the last few years, frequently more than double its previous year’s performance:$3.2 billion in 2021$2.9 billion in 2020$1.6 billion in 2019$1.1 billion in 2018$673.3 million in 2017$389.3 million in 2016$205.2 million in 2015
Recurring Monthly Sales Revenue of Shopify
Shopify categorises recurring income as a subset of total revenue since it includes merchant subscription fees that are paid on a monthly basis. They arrive at this figure by multiplying the monthly subscription cost by the total number of merchants who are actively using the system.The recurring revenue of $98.8 million at the end of the third quarter in 2021 was up from $82.61 million in 2020. Although substantially lower than total sales, this is a figure that Shopify considers in order to maintain steady cash flow and merchant growth.
Source: https://ecommerce-platforms.com/articles/shopify-revenue
Take a look at how monthly recurring Shopify revenue has changed over the past few years:– 2021: $98.8M– 2020: $82.6M– 2019: $53.9M– 2018: $40.9M– 2017: $29.9M– 2016: $18.5M– 2015: $11.3M
Shopify Revenue by Region
Shopify looks into merchant locations to see where its revenue comes from. Given that they only focus on continents, and they already know that North America generates the majority of income, it’s a rather broad look into regional revenue (primarily the United States).North America accounts for 73 percent of Shopify’s sales, with 56 percent of its merchants based there.Other sources of income include the following:– EMEA (Europe, Middle East, and Africa) accounts for 16% of the company’s revenue.– APAC (Asia Pacific, Australia, and China) accounts for 10% of the company’s revenue.– LATAM (Latin America) has a 1% of total revenue.According to the most recent data, the following are the income breakdowns by region:– $2.2 billion in North America– $454.3 million in EMEA– APAC: $292.2 million– $36.1 million in Latin America
