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 4.95 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 4.95 million active Shopify stores worldwide as of September 2024.
- Shopify has 809 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 8.84 million Shopify stores on the internet. Of these, 4.95 million are currently (as of November 2024) live, while 1.65 million domains redirect to one of these sites. Additionally, 3.89 million sites have used Shopify previously.
Shopify powers 2.93% of the top 1 million e-commerce websites and 3.44% of the top 10,000 live e-commerce websites. This means that approximately 56% of all Shopify websites created are currently active.
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 | 4.95 million |
Source: BuiltWith
Which Are The Top Countries Using Shopify?
The United States is the leader in Shopify usage, with approximately 2.86 million active websites, making it the top country on this e-commerce platform. The United Kingdom follows with 194.6K active sites, and Australia ranks third with 142.4K.
Germany and Brazil complete the top five, with 125.5K and 118.8K Shopify websites, respectively. Other notable countries include Canada, Colombia (.co), India, France, and the Netherlands.
| Country | Number of Stores |
| United States | 2,856,231 |
| United Kingdom | 194,553 |
| Australia | 142,382 |
| Germany | 125,490 |
| Brazil | 118,789 |
| Canada | 106,485 |
| Colombia (.co) | 85,848 |
| India | 78,411 |
| France | 72,894 |
| Netherlands | 56,460 |
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
Source: SimilarWeb
Demographic Breakdown of Shopify’s Website Traffic
Shopify’s customer base is predominantly female, accounting for 56.09% of shoppers, while males make up 43.91%. The largest age group is 25-34, representing 33.41% of Shopify’s audience, followed by the 35-44 group at 21.39%, and the 18-24 age bracket at 17.02%. Shoppers aged 45 and above collectively make up 28.19% of the customer base.
The table below gives a detailed breakdown of the age distribution of Shopify’s shoppers:
| Age Range | Percentage |
| 18-24 | 17.02% |
| 25-34 | 33.41% |
| 35-44 | 21.39% |
| 45-54 | 13.48% |
| 55-64 | 8.97% |
| 65+ | 5.74% |
Source: SimilarWeb
What is the Audience Primarily Interested In?
- Computers, Electronics and Technology
- Programming and Development of Software
- Fashion and Apparel
- Graphics and Multimedia
- New and Television
Top Shopify Stores Searched by Users
- News, television, and media
- Shopping – Fashion and Apparel
- Software support and development
- 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.
| 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.
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.
| 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.
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.
