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Shopify Revenue and Merchant Statistics

Brian Dean

Written by Brian Dean

Shopify Revenue and Merchant Statistics

Shopify is a popular ecommerce platform used by over 2 million sellers.

Founded in 2006, Shopify surpassed $1 billion in gross merchandise volume (GMV) in 2013. Today, they have processed $235.91 billion in ecommerce sales in 2023 alone. The company has also generated $7.06 billion in revenue in 2023.

675 million buyers place an order with Shopify merchants each year. That’s a 2.25x increase since 2019.

Continue reading to find all of the latest Shopify statistics in 2024:

Shopify Top Stats

  • More than 2 million merchants sell using the Shopify platform.
  • Shopify brought in $7.06 billion in revenue in 2023.
  • Shopify claims a 10% ecommerce market share in the US and 6% in Western Europe.
  • The Shopify App Store contains 13,000 apps.
  • Shopify merchants had a total of 675 million buyers in 2023.
  • 8,300 employees and contractors work at Shopify.

How Many Shopify Stores Are There?

4.61 million live websites use Shopify. The majority of domains (57.69%) are registered in the United States. The United Kingdom and Australia complete the top 3.

4.61 million live websites use Shopify

Here’s a breakdown of Shopify online stores by country:

Country Live Stores Using Shopify
United States 2,658,912
United Kingdom 207,941
Australia 149,682
Brazil 133,206
Germany 118,166
Canada 107,789
France 63,383
India 59,534
Netherlands 48,349
Italy 43,741

Shopify has a dedicated plan for enterprise customers, called Shopify Plus. This starts from $2,500 per month.

50,556 live websites use Shopify Plus. 55.8% of Shopify Plus customers are based in the United States.

50,556 live websites use Shopify Plus

Here’s a breakdown of Shopify Plus users by country:

Country Live stores using Shopify Plus
United States 28,210
United Kingdom 3,540
Australia 3,159
Canada 2,972
Germany 1,411
France 976
Denmark 675
Netherlands 605
Japan 499
India 484

Source: BuiltWith

Shopify Merchants

According to the last update, Shopify had 2.06 million merchants in December 2021. Since then, the company stopped reporting the exact count of Shopify merchants and claims the platform is used by “millions of merchants”.

Shopify Merchants

Shopify’s merchant count has grown 1.93x since 2019.

Here’s a table with the number of merchants using Shopify since 2012:

Year Shopify 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
2021 2,063,000

Source: Shopify

Shopify Merchants by Region

Shopify has merchants located in 175 countries across the world.

Shopify has merchants located in 175 countries across the world

In over 65 counties, Shopify’s gross merchandise volume exceeds $100 million, up from 29 countries in 2019.

As of December 2023, 54% of all Shopify merchants were based in North America.

A further 25% of Shopify merchants were located in Europe, the Middle East, and Africa.

Here’s a regional breakdown of Shopify merchants in 2023:

Region Share
North America 54%
Europe, the Middle East and Africa 27%
Asia Pacific, Australia and China 14%
Latin America (Mexico and South America) 5%

Source: Shopify

Shopify Gross Merchandise Volume

Shopify facilitated $235.91 billion worth of transactions in 2023. Shopify’s gross merchandise volume (GMV) has increased by 19.65% over the past year.

Shopify Gross Merchandise Volume

We’ve charted Shopify’s gross merchandise volume since 2012:

Year Shopify 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 $175.36 billion
2022 $197.17 billion
2022 $235.91 billion

Source: Shopify

How Many People Buy from Shopify Stores?

675 million people bought from stores on Shopify in 2023. The number of shoppers placing an order with Shopify merchants has increased by 47.7% since 2020.

How Many People Buy from Shopify Stores?

Here’s a table showing the number of buyers from Shopify stores since 2014:

Year Shopify Buyers
2014 28 million
2015 57 million
2016 100 million
2017 163 million
2018 216 million
2019 300 million
2020 457 million
2022 561 million
2023 675 million

Source: Shopify

Shopify Revenue

Shopify generated $7.06 billion in 2023. This is an increase of 26.07% year over year.

Shopify Revenue

Shopify’s annual revenue has increased 6.6x from 2018 to 2023.

Here’s a table with complete data on Shopify revenue since 2012:

Year Shopify 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 $4.61 billion
2022 $5.6 billion
2023 $7.06 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.

Shopify brought in $1.84 billion in subscription revenue in 2023. This accounts for 26.06% of total company revenue and shows a 26.02% growth rate year over year.

Shopify Subscription Solutions Revenue

Here’s a table showing Shopify subscription solutions revenues since 2012:

Year Shopify 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 $1.34 billion (29.07%)
2022 $1.49 billion (26.6%)
2023 $1.84 billion (26.06%)

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 $5.22 billion in merchant solutions revenue in 2023, representing 73.94% of total revenue. Merchant solutions have been Shopify’s main revenue source since 2016.

Shopify Merchant Solutions Revenue

We’ve charted Shopify’s merchant solutions revenues since 2012:

Year Shopify 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 $3.27 billion (70.93%)
2022 $4.11 billion (73.39%)
2023 $5.22 billion (73.94%)

Source: Shopify

Shopify Revenue by Region

Shopify provides a regional breakdown of revenue, calculated by reference to seller location.

Shopify generated $5.04 billion from sellers located in North America in 2023, totaling 71.35% of overall revenue. All markets outside of North America generated a combined $2.02 billion in 2023.

Here’s Shopify’s regional revenue breakdown in 2023:

Region Shopify Revenue
North America $5.04 billion
Europe, Middle East and Africa $1.26 billion
Asia Pacific, Australia and China $699 million
Latin America $69 million

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 $149 million in 2023. That’s up 46.05% since 2021.

Shopify Monthly Recurring Revenue

Here’s a table showing Shopify’s monthly recurring revenue since 2012:

Year Shopify 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
2021 $102.02 million
2022 $109.51 million
2023 $149 million

Source: Shopify

Number of Apps on the Shopify App Store

Shopify has over 13,000 apps available for download in the Shopify App Store. The Shopify app marketplace has added 3,300 new apps since 2019.

Number of Apps on the Shopify App Store

Since 2020, the Shopify app count has increased by 2.17x.

Here’s a table with the number of apps in the Shopify App Store since 2015:

Year Shopify Apps
2015 900
2016 1,400
2017 2,300
2018 2,500
2019 3,700
2020 6,000
2021 8,000
2021 10,000
2021 13,000

Source: Shopify

What’s the Shopify Market Share?

Based on gross merchandise volume in 2023, Shopify stores in the US claimed a 10% market share of all retail ecommerce sales nationwide.

In Western Europe, Shopify claims around 6% market share of ecommerce sales.

Source: Shopify

How Many People Work at Shopify?

Shopify has 8,300 employees and contractors worldwide. The company has increased its employee count by 28.45% over the past year.

How Many People Work at Shopify?

Here’s a table with the number of employees and contractors at Shopify since 2013:

Year Shopify Employees
2013 334
2014 632
2015 1,048
2016 1,900
2017 3,000
2018 4,000
2019 5,000
2020 7,000
2021 10,000
2022 11,600
2023 8,300

Source: Shopify

Conclusion

That’s all for my list of Shopify stats in 2024.

The ecommerce platform is growing rapidly. Merchants, buyers and gross merchandise volume are all increasing year over year.

As more businesses adopt ecommerce channels, Shopify’s online sales portal presents an attractive package.

If you have a Shopify store that could benefit from improved performance, consider utilizing the Ecommerce Booster app. It audits the main areas of page
performance: visual and text content, user experience, page speed, and accessibility on your site. You’ll get a ready-to-implement action plan and built-in AI tools to simplify store optimization.