Shopify Statistics: Market Share, Usage, Revenue, and More (2024)

Curious about how Shopify is shaping eCommerce? You’re in the right place!

In this blog, we’ll share key Shopify statistics to help you understand this major e-commerce platform. These stats will guide you through the latest trends, from Shopify’s revenue to traffic insights, mobile usage, and more.

Let’s jump in and explore the numbers you need to finish 2024 strong and step confidently into 2025.

Shopify Market Share

1. As of 2024, Shopify ranks fourth with a 10.32% share in the global market for leading e-commerce software platforms and technologies.

E-commerce platforms market share worldwide 2024

2. Shopify ranks 13th among internet companies with the largest market capitalization in the world.

3. Shopify currently powers nearly 5 million active websites worldwide.

4. Shopify Pay Installments ranks third with a 13.8% market share in the global online payment processing technologies sector.

5. Shopify holds the top position with a 29% market share of e-commerce software platforms in the United States.

6. In the United Kingdom, Shopify holds the second-highest market share among e-commerce software providers at 21%, closely following WooCommerce Checkout at 22%.

7. Although runs slower in the website number, Shopify dominates in higher-traffic websites, holding a significantly larger market share in the top 10K and 100K sites compared to WooCommerce.

Shopify Revenue Statistics

8. Shopify’s revenue grew from $5.6 billion in 2022 to $7.06 billion in 2023. In Q1 2024, it rose 23% year-over-year to $1.9 billion, or 29% when adjusted for the sale of logistics businesses.

9. An average Shopify store can earn up to $67,000 annually (around $5,600 monthly). Shopify stores’ average revenue per customer is approximately $92.

10. Gross Merchandise Volume (GMV) in the second quarter of 2024 reached $67.25 billion, marking a 22% year-over-year increase from $55.01 billion. For the full year, GMV rose by 20%, climbing from $197.22 billion in 2022 to $235.91 billion in 2023.

Shopify Quarterly Ross Merchandise Volume from 2020 to 2024

11. Revenue from Subscription Solutions grew by 34% to reach $511 million compared to the previous year, fueled by an increase in the number of merchants and higher prices for standard subscription plans.

12. As of June 30, 2024, Monthly Recurring Revenue (MRR) rose by 25% to reach $169 million compared to the previous year. This growth was fueled by an increase in merchants across all subscription plans. Shopify Plus contributed $52 million, making up 31% of the total MRR, down slightly from 32% as of March 31, 2024.

13. Gross profit increased by 33%, reaching $957 million compared to last year. The gross margin for this quarter was 51.4%, up from 47.5% in the first quarter of 2023. This improvement was mainly due to no longer having the negative effects from the logistics businesses and changes in pricing for standard plans, although it was slightly reduced by the ongoing growth of Shopify Payments.

14. Free cash flow was $232 million, up from $86 million last year.

Shopify Traffic Statistics

15. In September 2024, Shopify attracted 191.02 million visits, with the average session lasting 19 minutes and 23 seconds.

16. The majority of traffic comes from the United States (27.81%), followed by countries like India, the United Kingdom, Nigeria, and Australia.

Shopify Traffic by Country in 2024

17. On shopify.com, the majority of visitors arrive directly (68.64% of traffic), with google.com being the second-largest source (5.64%). Typically, after visiting shopify.com, users often navigate to shopify.com again and storage.googleapis.com.

Shopify Usage Statistics

18. Shopify facilitates over $444 billion in global economic activities through stores with international sales.

19. More than 675 million people have made purchases from e-commerce stores powered by Shopify or Shopify Plus in 2023.

20. A total of 4,895 Shopify stores have physical locations.

21. The typical time before a full mobile page loads on Shopify is 4.2 seconds.

22. A good customer lifetime value (LTV) range for a Shopify store falls between $300 to $400.

23. Shopify stores have accumulated over 800,000 customer reviews over the years.

24. The average Shopify bounce rate is 41.1%.

Shopify Mobile Usage Statistics

25. Mobile devices contribute significantly to Shopify’s traffic, accounting for 50.3% of visits (40.3% from mobile phones and 10% from tablets), while computers make up 49.7%.

Shopify Traffic Distribution by Device in 2024

26. Approximately 66% of orders in Shopify shops are placed on mobile devices.

27. Mobile shopping from Shopify merchants accounted for 69% of online sales during Black Friday and Cyber Monday.

Shopify Merchants Statistics

28. More than 1.75 million merchants in 175 countries use Shopify.

29. Apparel is the category chosen by the most sellers, with a total of over 520,000 stores.

30. The largest portion of Shopify online stores, at 29.87%, sell between 1-9 products, whereas the smallest segment, at just 0.17%, offer an extensive range of 25,000-99,999 products.

31. The 3 largest markets of Shopify are the United States with a 58.05% share, followed by the United Kingdom at 9.44%, and Canada at 7.08%.

Number of Shopify Stores by Country in 2024

32. There are over 1,200 Shopify stores that sell Currencies & Foreign Exchange products.

Shopify Apps Statistics

33. The Shopify App Store offers over 10,000 apps for users to enhance their stores.

34. Shopify users have collectively installed more than 25 million apps from the Shopify App Store.

35. Product Reviews is the most popular Shopify app, which is used by 500,000 stores. Here are the top 10 most popular Shopify apps.

36. A mere 0.97% of Shopify users opt for custom themes.

37. USPS is the leading shipping carrier for Shopify stores, used by 149,709 online stores, followed by UPS with 94,237 stores, and Fedex with 63,560 stores.

38. For orders within the same country, the typical delivery time is 3-5 business days.

39. Shopify users can choose from more than 100 free and paid themes.

40. There are 29 different checkout customizations available for Shopify stores.

41. Shopify offers a selection of over 100 credit card payment providers for users to choose from.

42. Over 80% of Shopify merchants utilize an app within their Shopify storefront.

43. According to Shopify, an average merchant utilizes 6 applications.

44. The Shopify app store has around 7,200 sellers (partner developers).

Shopify Plus Statistics

45. Presently, there are 28,494 live stores running Shopify Plus.

46. Shopify Plus stores saw a 2.5% quarter-over-quarter increase and a 14% year-over-year increase in adoption.

47. Shopify Plus merchants, with annual sales revenues ranging from $1 million to $500 million, have experienced an average year-over-year growth of 126%.

48. The Enterprise version of Shopify guarantees a server uptime of 99.98%.

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Shopify Store Statistics

49. On average, visitors to Shopify stores view 2.8 pages during a single session on the site.

50. There are more than 4 millions Shopify stores that utilize Shopify Blog as part of their content strategy.

51. Email users have the greatest conversion rates on Shopify stores (4.29%), followed by product search (3.04%), direct search (2.93%), and social media (1.81%).

Shopify Conversion Rate Across Marketing Channels in 2024

52. 68% of Shopify stores have implemented loyalty programs.

53. Approximately 42,200 partners have referred merchants to Shopify stores.

54. Over one-third (42%) of Shopify stores utilize live chat for both customer support and marketing purposes.

55. Shopify’s Net Promoter Score (NPS) stands at 34, with 57% Promoters, 20% Passives, and 23% Detractors.

56. Shopify store users can send up to 40,000 emails per campaign and run up to 5 campaigns per week.

57. A total of 36,660 Shopify stores employ Refersion for affiliate marketing.

58. There are 2,875 Shopify stores that have installed In-Store Pickups app.

59. More than 95% of successful Shopify stores use at least one SEO app.

60. 80% of consumers expect free shipping when ordering a certain dollar amount of products from a Shopify store, with 66% expecting free shipping for all online orders.

61. Each Shopify merchants’ follower on Instagram was estimated to bring them a value of approximately $429.02 in terms of business or sales generated.

62. The category of Social Networks on Shopify has 1,793 active merchants.

Shopify Sustainability Approach

63. Total carbon removal purchases reached $32 million, and Shopify pledged to spend a combined $925 million on carbon removal efforts.

64. Shopify has extended over $477 million in cash advanced and loans to merchants worldwide.

65. Shopify Capital Business Loans range from as low as $200 up to $1 million, with a loan term of 12 months.

66. The Shopify Entrepreneurship Index highlights that British businesses on Shopify directly supported over 78,000 jobs and contributed to nearly 200,000 jobs in total.

Conclusions

In conclusion, these Shopify statistics are your compass for thriving in the e-commerce world as we approach 2025. Shopify, a global e-commerce giant, empowers businesses with its user-friendly platform, robust features, and market presence.

As you prepare for the upcoming year, let these statistics guide you through the Shopify ecosystem and empower your success.

Resources:

• Statista
• Built With
• Shopify
• WebFX
• Semrush
• Macrotrends
• Store Leads
• Cartinsight
• MobiLoud