Shopify is a commerce platform that helps entrepreneurs sell online and in-person through an ecommerce store, various social sales channels, and brick-and-mortar through Shopify POS.
What else is there to know about Shopify as a product and as a company? This report will share all of the latest Shopify statistics that are publicly available as of this year.
Facts about Shopify
- Shopify was started in Ottawa, Canada by three co-founders. Today, Tobi Lutke is the sole remaining co-founder and is the CEO of Shopify.
- Shopify employs over 10,000 people worldwide and is a completely remote company, with no full-time staff working from offices.
- Shopify is the second most popular ecommerce platform behind the free-to-use WooCommerce. Market share data shows Shopify is outpacing its other competitors, like Squarespace and Wix.
- There are over 81 themes in the official Shopify Theme Store and nearly 7300 apps in the Shopify App Store. There are free and paid versions for apps and themes.
- Shopify operates two physical spaces for entrepreneurs in LA and NYC.
- Shopify is the first Canadian company to sign a power purchase agreement (PPA) equivalent to powering 100% of office buildings and employee home offices across North America with wind energy.
Company statistics for Shopify
- The latest statistics show Shopify’s Monthly Recurring Revenue (MRR) is $105.2 million as of March 2022, which is a 17% increase from the previous year.
- Shopify’s total revenue for Q1 2022 was $1.2 billion, which represents a two-year compound annual growth rate of 60%.
- Merchant Solutions revenue—from Shopify products like Capital, Payments, and Markets—grew nearly 29% year over year in Q1 2022.
- Shopify merchants generated Gross Merchandise Volume (GMV) of $43.2 billion in Q1 2022, which represents a two-year compound annual growth rate of 57%.
Product/platform statistics for Shopify
- There are over 2 million merchants on Shopify’s platform. For every dollar made by Shopify, merchants selling on Shopify made $38 (measured by Gross Merchandise Value, or GMV).
- Merchants selling on Shopify drove more than $444 billion in global economic activity in 2021, which is a 45% increase from the previous year. Shopify merchants also employ 5 million people.
- Shopify merchants drove nearly $25 billion in cross-border sales in 2021. Small businesses, as defined by the SBA, drove $11 billion of those sales.
- Shopify’s Partner ecosystem—made up of app developers and Shopify Partners—earned $32 billion in revenue in 2021, a 45% increase from 2020. Shopify’s Partner ecosystem earned nearly 7x of Shopify’s revenue in 2021.
Popular alternatives to Shopify
For ecommerce stores: BigCommerce, Adobe Commerce
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Data for this story was collected from information published on Shopify’s Newsroom and the company’s most recent Economic Impact Report. The source for the featured image is Joost.blog.