Shopify Statistics, Facts, & Figures (2024)

When you think of Shopify as a platform, you’ll most likely recognize it as an e-commerce platform, one that has gained quite the name and fame in the industry. Not many know that it started its journey in 2006 as Snowdevil, an online platform for snowboarding equipment.

Today, Shopify hosts over 5.46 million sites across 175 countries. The company also registered a revenue of $7.1 billion in 2023, a 26% increase compared to 2022. How did Shopify achieve such overwhelming success and become Canada’s third-largest publicly traded company?

Top Shopify Statistics (Editor’s Picks)

  • There are 5.46 million active Shopify stores worldwide as of September 2024.
  • Shopify has 700 million customers.
  • Shopify has a 10.32% market share in the global eCommerce market. This increases to 29% in the US market.
  • The global count of active Shopify Plus stores stands at 49,165.
  • Mobile devices account for 79% of Shopify’s overall traffic.

How Many Shopify Stores Are There?

There are 5.46 million live Shopify stores worldwide as of September 2024. An additional 1.8 million domains redirect to one of these sites. There are also 2.9 million sites that have been used  previously taking the total count to 8.4 million

That means that out of the 8.4 million Shopify websites that have been created, only 65% are currently active.

Additionally, Shopify powers 3.07% of the top 1 million e-commerce websites and 3.65% of the top 10,000 live e-commerce websites.

The number of Shopify stores has grown by 17% from the previous year and 237% since 2020.

Year Number of Active Shopify Stores
2020 1.6 million
2021 3.7 million
2022 3.9 million
2023 4.6 million
2024 5.4 million

Source: BuiltWith

Which Are The Top Countries Using Shopify?

The United States leads in Shopify usage, with 3.12 million active websites, making it the top country using this eCommerce platform. The United Kingdom follows with 216.8K active sites, and Australia ranks third with 159.4K.

Germany and Brazil complete the top five, with 139.3K and 137.1K Shopify websites, respectively. Other prominent countries include Canada, Colombia, India, France, and the Netherlands.

Store Distribution Across Countries

Country Number of Stores
United States 3,119,772
United Kingdom 216,828
Australia 159,426
Germany 139,289
Brazil 137,078
Canada 116,912
Colombia (.co) 97,014
India 82,167
France 78,194
Netherlands 62,656
Italy 48,553

Source: BuiltWith

Top Companies Using Shopify

Big brands are turning to Shopify because it’s super popular for setting up online stores – more than 4 million websites use it! Shopify lets brands sell products on lots of platforms like Facebook and Amazon. It’s easy to start with, and you can quickly make your store look good. Plus, it’s got special features like lots of ways to get paid, and it works well on phones, too. What’s great is that it’s suitable for both small startups and big companies because it’s affordable but still has all the fancy supplies that big businesses may need. That’s why tons of big names are using Shopify these days. Some of them include –

Top Companies Using Shopify
Clothing and Fashion
Hiut Denim Co.

Tentree

Macguire Shoes

Art and Home Décor
Uppercase magazine

Artisaire

Terre Bleu

Electronics and Gadget
Bruvi

Kulala

Pela

Subscription-based
Cocofloss

Loot Crate

Pot Gang

Jewelry and Accessories
United By Blue

Manitobah Mukluks

Allbirds

Food and Drink
BLK & Bold

Fly by Jing

Verve Coffee Roasters

Beauty and Wellness
The Honey Pot

Package Free

Beauty Bakerie

Other
Healthy Roots Dolls

GiveMeTap

Lunchskins

Source: Shopify

How Many Customers Does Shopify Have?

Shopify has over 809 million customers, an increase of 109 million from the 700 million customers in 2023. This represents a 15% growth. Shopify experienced significant growth between 2019 and 2023, adding 400 million customers.

This means that 30% of global online shoppers shop with a Shopify store.

Here’s the table showing the number of Shopify customers by year:

Year Number of Shopify Customers
2024 809 million
2023 700 million
2022 649 million
2021 572 million
2020 457 million
2019 300 million
2018 216 million
2017 163 million
2016 100 million
2015 57 million

Source: Company data.

Key Performance Metrics for Shopify

Key Performance Metrics for Shopify

Source: SimilarWeb

Demographic Breakdown of Shopify’s Website Traffic

Shopify’s customer base is predominantly female, making up 55.47% of their shoppers, while males account for 44.53%. The majority of Shopify’s customers are in the 25-34 age range, representing 35.04% of their audience. This is followed by the 35-44 group at 21.22% and the 18-24 age bracket at 17.4%. The rest of the shoppers aged between 45 and 65+ collectively make up 26.34% of the share.

The table below gives a detailed breakdown of the age distribution of Shopify’s shoppers:

Age Range Percentage 
18-24 17.4%
25-34 35.04%
35-44 21.22%
45-54 12.87%
55-64 8.19%
65+ 5.28%

Source: SimilarWeb

What is the Audience Primarily Interested In?

  1. Computers, Electronics and Technology
  2. Programming and Development of Software
  3. Fashion and Apparel
  4. Graphics and Multimedia
  5. New and Television

Top Shopify Stores Searched by Users 

  1. News, television, and media
  2. Shopping – Fashion and Apparel
  3. Software support and development
  4. Business Development

How Many Active Users Does Shopify Have?

Take a look at the evolution of Shopify in terms of its users from 2019 to 2024 below –

2019: Shopify achieves a milestone, surpassing 1 million users, reflecting its rising popularity and the increasing trend of businesses embracing online commerce.

2020: Amidst the COVID-19 pandemic, Shopify experiences a surge in its user base, reaching 1.75 million, as the global shift to e-commerce accelerates.

2021: Expanding its global footprint, Shopify strengthens its presence in Europe, with 11 out of the top 20 countries for merchant numbers situated on the continent.

2022: Making strategic inroads into the Asia-Pacific market, Shopify partners with JD.com to tap into China’s burgeoning e-commerce market, projected to reach $3.3 trillion by 2025.

2023: Despite post-pandemic market challenges, Shopify maintains a robust user count exceeding 4.1 million.

2024: Reaching a new pinnacle, Shopify boasts around 4.6 million users and facilitates over $200 billion in sales, solidifying its position as a premier e-commerce platform.

The chart below provides a glance into the highs and lows of Shopify’s user growth since 2019.

Number of Shopify Users

Year  Number of Shopify Users 
2019 1,000,000+
2020 1,749,000+
2021 2,063,000+
2022 4,192,000+
2023 4,124,000+
2024 4,685,309+

Source: Websiterating

Shopify Tops eCommerce Distribution Charts

The eCommerce landscape is dynamic, with various platforms vying for dominance in powering online stores across the web. A comprehensive analysis of the top 1 million sites reveals intriguing insights into the distribution of eCommerce technologies.

Among these, Shopify emerges as the leading player, commanding a significant share of 25%. Following closely behind is WooCommerce Checkout, constituting 13% of the eCommerce usage. Magento and Shopify Plus also hold substantial portions at 8% and 6%, respectively. PrestaShop contributes 3% to the eCommerce ecosystem. Interestingly, a diverse array of other platforms collectively makes up 44% of the market, showcasing the competitive diversity within the industry.

eCommerce Usage Distribution in the Top 1 Million Sites

Source: BuiltWith

Shopify’s Key Financial Highlights 2024

  • Revenue Growth:  Shopify’s revenue for the first half of 2024 grew by 22%, reaching $3.9 billion. This is the combined revenue of Q1 and Q2 in 2024. After adjusting for the sale of its logistics businesses, the year-over-year growth stands at 27%.
  • Gross Merchandise Volume (GMV): In the first half of 2024, GMV grew by 22.5%, reaching $128.1 billion, compared to $102.6 billion in the same period of 2023.
  • Free Cash Flow Margin:  Shopify improved its free cash flow margin to an impressive 14% in the first half of 2024, up from 6% in the first half of 2023.
  • Annualized Revenue: With revenue of $3.9 billion in the first half, Shopify is on track for an estimated annual revenue of approximately $7.8 billion in 2024, potentially surpassing its 2023 performance.
  • Merchant Solutions Revenue: This segment experienced a 19.5% growth, contributing $2.9 billion in the first half of 2024, driven primarily by the rising GMV and deeper penetration of Shopify Payments.
  • Subscription Solutions Revenue: SSR at Shopify increased by 30.5% in the first half of 2024, totaling $1.074 billion, owing to the growth in merchant subscriptions and pricing adjustments.
  • Gross Profit: Shopify’s gross profit for the first half of 2024 grew by 29% to $1.957 billion, compared to the previous year, underpinned by improved margins and increased revenue.
  • Gross Margin: For the first half of 2024, Shopify’s gross margin reached 51.3%, up from 48.4% in the first half of 2023, reflecting better cost management and favorable changes in pricing structures.
  • Positive Free Cash Flow: Shopify’s free cash flow for the first half of 2024 was $565 million, representing a significant improvement from $183 million in the first half of 2023.

Shopify’s Key Financial Highlights 2023

Metric Value (in billions)
Revenue Growth $3.90
Annualized Revenue $7.80
Merchant Solutions Revenue $2.90
Subscription Solutions Revenue $1.074
Gross Profit $1.96
Positive Free Cash Flow $0.57

Source: Shopify

How Much Revenue Does Shopify Make?

Shopify’s quarterly revenue for Q2 2024 reached $2.045 billion, marking a significant 20.7% increase compared to $1.694 billion in Q2 2023. This growth was driven by both subscription solutions and merchant solutions revenue, which saw increases to $563 million and $1.482 billion respectively. The Gross Profit for the quarter also rose to $1.0 billion from $835 million in the previous year, demonstrating a strong performance across key revenue streams.

The table below highlights a few of the top financial metrics of Shopify as of Q2 2024:

Metric Q2 2024 Q2 2023
Total Revenue $2.045B $1.694B
Subscription Solutions Revenue $563M $444M
Merchant Solutions Revenue $1.482B $1.250B
Gross Profit $1.0B $835M

Source: Shopify

What Drives Shopify’s Revenue Streams?

Shopify generates its revenue primarily through two avenues:

Subscription Solutions: This involves merchants paying fees to utilize the Shopify platform. Merchants can select from a range of plans, such as Basic Shopify, Shopify, and Advanced Shopify, each providing different features and tools for managing an online store.

Merchant Solutions: This encompasses various services offered to merchants to aid them in selling their products. It includes Shopify Payments, which processes payments for merchants; Shopify Capital, which provides financing options; and Shopify Shipping, which offers shipping solutions and discounts.

What Is Shopify Plus?

Shopify Plus is Shopify’s enterprise-level solution tailored for high-volume merchants and large brands. It’s a fully hosted eCommerce platform offering scalability and customization. With advanced features like customizable checkouts and increased API calls, Shopify Plus addresses the complex needs of growing businesses, providing dedicated support and infrastructure for rapid expansion. It seamlessly integrates with existing systems through APIs, making it a flexible choice for enterprises seeking to enhance their eCommerce capabilities.

Shopify Plus Usage Statistics 

Shopify Plus, Shopify’s premium plan, costs a minimum of $2000 per month and offers an array of advanced features, such as customizable checkouts, increased API calls, and unlimited user accounts.

Currently, there are 49,165 active Shopify Plus stores worldwide. Among these, 27,427 stores are located in the United States. This signifies a notable surge from the previous year, indicating a growing preference for Shopify Plus among high-volume merchants.

Shopify Plus stores now constitute 0.65% of the top one million websites, showcasing their significant influence in the online marketplace. Additionally, the United Kingdom stands as Shopify’s second-largest market, hosting 3,461 Shopify Plus stores, highlighting the platform’s expanding global reach and its attractiveness to businesses beyond North America.

Country Number of Shopify Plus Stores
United States 27,427
United Kingdom 3,461
Australia 3,099
Canada 2,923
Germany 1,399

Source: BuiltWith

Key Shopify Milestones So Far (2024)

Since its inception in 2006, Shopify has grown remarkably, transforming from a modest platform for selling snowboards into a global e-commerce powerhouse. Today, Shopify supports millions of merchants across approximately 175 countries. The company employs over 8,300 people and offers more than 13,000 apps in its App Store, providing merchants with a wide array of tools to enhance their online stores.

Shopify’s Theme Store features 70 themes, and its network includes over 780 experts. Financially, Shopify has facilitated total sales of around $1 trillion. These milestones highlight Shopify’s extraordinary journey and its substantial influence on the e-commerce landscape.

Key Shopify Milestones So Far

Source: Shopify

Wrapping Up

Summarizing Shopify’s journey up to 2024 reveals its profound impact on the e-commerce sector. Through ongoing innovation and strategic expansion, Shopify has cemented its position as a pivotal player, offering holistic solutions to businesses worldwide. Its adaptable framework and strong foundation have empowered merchants globally to optimize their online operations and sales tactics with ease. From its inception to its current standing, Shopify’s trajectory reflects a steadfast dedication to excellence and forward-looking strategies that have consistently fueled its growth and triumph in the digital realm.

Pareeshti Rao

As a content person (pun-intended), there's always been a fascination in seeing my thoughts translate into written words. What anchors me to writing is the relentless pursuit - does my work truly mirror my thoughts? This mystery is my writer's heartbeat!


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