Shopify is one of the fastest-growing eCommerce platforms, and with its simple interface and quick set up, it’s easy to see why. As marketers whose goal is to skyrocket ROAS and revenue for our customers, we’re huge Shopify fans, and it’s music to our ears when a client tells us they’re ready to make the switch.
Trusted by big name brands such as Gymshark, Nescafe and Heinz, sellers of all shapes and sizes are flocking to the platform thanks to its functionality and ease of use.
We’ve compiled 27 Shopify stats to help give you a better insight over why everyone’s migrating to the hottest platform in town.
Shopify Stats: Market Share & Growth
- Shopify stock grew nearly 300% within 4 months in 2020 (WebsiteToolTester)
Supercharged by the pandemic, the growth of eCommerce was a massive boost for Shopify. COVID-19 propelled Shopify’s business as nothing has ever before. eCommerce growth, sources say, has been accelerated by four to six years, as lockdown forced people to shop online. And shop online they did! Of all the Shopify stats, this is the biggie. - In 2019, the Shopify platform held a 20% market share (Pagely)
In comparison, WordPress plugin WooCommerce is the most popular solution, with approximately 26% marketshare. WooCommerce’s popularity may be due to the fact that it is free and it is built on top of WordPress, the world’s most popular CMS. - In the US, Shopify is the 3rd largest online retailer behind Amazon and eBay (Shopify & You)
Ranked in terms of US eCommerce sales, with Apple and Walmart coming in 4th and 5th respectively. - Shopify is the fastest growing online store builder in the world (WebsiteToolTester)
Website builders focusing on CMS, such as WordPress and Joomla are much more popular than Shopify, but when it comes to online stores, few companies have gained more market share than Shopify in the last 6 years, and not one of them have grown as fast. - Shopify is the most searched eCommerce solution (WebsiteToolTester)
In the Google Trends example below, it’s clear that searches for Shopify are much more common – and growing – than for other store builders.
- In 2019, Shopify reported annual total revenue of $1.57 billion, up by 47% from the previous year (Marketing Land)
Shopify attributed the growth to a number of factors, including the growing marketing capabilities available to merchants on the platform such as Shopify Email and native chat for merchant sites. - There are over 1,000,000 Shopify shops to date (Shopify)
Shopify stores can sell anything – from plants and pet products right through to cars and holidays. The ease of using one platform to sell products to anyone, anywhere – in person with Point of Sale and online via website, social media, and online marketplaces – is a huge selling point. - In 2019, the Shopify merchants who achieved $1M+ in gross merchandise volume (GMV) increased by 44% (Shopify)
Shopify makes entrepreneurship a breeze, generating seller activity all around the world, and empowering more merchants to prosper. - Most Shopify merchants (37.5%) are between 25-34 years old. (Shopify)
Followed by 35 – 44 (30.0%); 45+ (24.9%) and 18 – 24 (7.3%). It just goes to show, you’re never too old to set up an online store.
Buyer Behaviour - In 2019, 300 million consumers bought from Shopify merchants (Shopify)
That figure has surely sky-rocketed during 2020. - Over 62 million buyers worldwide are repeat Shopify customers (Shopify)
Give users a streamlined shopping experience and they will come back. Couple this with a solid full-funnel digital marketing strategy and you’re onto a winner. - Shopify buyers purchase 3.8 times on average from the same store (Shopify)
As above, repeat business is highly likely if your shop is set up for a great buying experience. Add in retargeting and retention strategies via paid social, PPC and email marketing and turn your buyers into loyal brand ambassadors. - The average order value on Shopify is $69 (Littledata)
If your store has a lower AOV than this figure, you can try increasing your average checkout value by up-selling, cross-selling, and implementing a minimum order threshold before allowing free shipping. People will do anything before they pay for shipping. - The average Shopify store conversion rate – the percentage of store visitors who make a purchase – is 1.6%. (Littledata)
A conversion rate higher than 3.6% would put you in the best 20% of Shopify stores, and more than 5.1% would put you in the best 10%. - 81% of Shopify users shop via mobile (WebsiteBuilders)
It’s crucial you optimise your shopping experience for mobile. Luckily, Shopify makes this super simple. - By 2021, estimates predict a whopping 2.14 billion online buyers – that’s about 25% of the world’s total projected population! (Oberlo)
Pretty mind-blowing to think that 1 in every 4 people has bought via a Shopify site. - While in-store retail sales are still dominating, eCommerce is closing the gap. Worldwide, eCommerce makes up around 15% of retail sales. By 2021, eCommerce retail is expected to rise to 17.5% worldwide. (Oberlo)
Imagine how things will look by 2025? - 87% of shoppers start their product research online (Retail Dive)
The majority of shoppers will turn to online sources to do their research, switching between devices during the research and buying stages. - Every minute, a new Shopify merchant has their first sale (Shopify & You)
There’s no better time to start your eCommerce journey.
- T-shirts and tops are the top-selling products worldwide (2019 State of eCommerce report)
Fashion continues to lead the way on Shopify.
Shopify Stats: Global Success
- By the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. (Shopify Plus, 2019)
Incredible numbers. - Shopify powers more than one million merchants in over 175 countries, and has processed a massive $172 billion in sales to date. (Shopify)
Shopify is a fully global solution, but the majority of users are based in China, where the eCommerce market is worth $1,001,974 million. - The average visit to a Shopify store lasts for 3 minutes and 6 seconds (source: Hostsorter.com)
Short and sweet. - Shopify has contributed over $183 BILLION in economic activity, globally. [Shopify]
What’s more, Shopify remove barriers and friction for independent business owners, creating tools for anyone, anywhere, to start and grow a business and impact the global community. - Shopify stores have seen almost 3x as much growth as the overall e-commerce market lately. [Statista]
As eCommerce prospers, so, in turn, do Shopify. - During 2019’s Black Friday/Cyber Monday weekend, Shopify businesses made $2.9 billion in sales. [Shopify]
We can’t wait to see what 2020 has in store. - Gymshark was one of the busiest stores on the platform during Black Friday 2019 with 3 MILLION units sold within two days. [Shopify & You]
That’s a whopping 18 units per second. What a story for a store that started in a bedroom 8 years ago.
We hope you enjoyed these Shopify stats. If you’re looking for a new website, you’ve come to the right place! Drop us a line with your company info and requirements and we’ll arrange a call: hello@digitalmediateam.co.uk
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