Even if you have no marketing experience whatsoever, we are sure you have heard of the eCommerce platform Shopify. Shopify was founded back in 2006 as a solution for small businesses to be able to produce websites that generated consumer traffic. The company has big ambitions, with its main goal being to build a 100-year company that will firmly cement its position as the leading website provider in the world.
At Creative Marketing Ltd, we are big fans of Shopify as an eCommerce platform, with our own website development services offering optimisation of the platform. Alongside being an affordable way to create stellar online storefronts, we also think Shopify is a great tool because:
- It is simple to use for new businesses and contains a range of graphics elements to allow simple yet professional design without needing to consult other sources.
- The CRM allows for easy CMS integration with most well-known providers.
- You can build scalable websites which can also be easily modified and re-launched should you wish to undertake a rebrand or new product launch.
- Consumer awareness for the Shopify logo is high, meaning that anyway websites which use the platform are already going to have a positive connotation.
As one of the main website platforms and a growing powerhouse in the world of eCommerce, Shopify is a platform you need to know about. That is why we have pulled together our top 20 Shopify statistics for 2022 which showcase just how far the app has come in recent years.
Shopify Revenue Statistics
Shopify’s revenue speaks for itself in terms of just how market-commanding the platform is. Already in 2022, the app has seen huge revenue increases and prices of shares skyrocketing as industry faith in the store is maintained despite the difficult economic landscape.
1. Revenue for Shopify stock rose 22% to $1.4 billion in the last quarter of 2022.
This performance is said to have exceeded expectations given the global cost of living crisis and supply chain issues. Whilst an increase in sales and the strength of the USD versus the CA dollar are said to have contributed to the success, Shopify has worked to cut down expenses in the recent year to improve profit margins.
Mark Maheny, Evercose ISI analyst, commented that this worked in Shopify’s favour for the following reasons, “Shopify is showing that it is willing to manage down expenses – through layoffs and marketing spend discipline – to protect profits or minimize losses. Which is exactly what the markets want these days.”
2. In September 2022, it was announced that annual revenue had increased 22% since 2021 to $1.4 billion.
Made up of subscription plans, ads, and onsite commissions, this is also backed by a monthly recurring revenue of $107 million being recorded in September 2022. Shopify Plus contributed $35.1 million to the overall monthly revenue. These figures also show just how prominent Shopify is as an industry competitor BigCommerce recorded much lower profits of £219 million for the same period. Shopify also makes revenue through additional features such as apps, paid-for themes, domains, and additional support features.
As of 2022, Shopify takes between 0.5% – 2% of all registered sales from Shopify stores with the amount depending on the type of subscription.
3. Shopify subscription revenues increased 12% to $376.3 million in 2022.
The website provides offers three forms of subscriptions which range from £19 to £259 per month. Each of the subscriptions offers the same functionality just with more features and personalisation options available for the more expensive plans. Features within the platform include:
- Online storefront and website building options
- Unlimited product listings
- Staff accounts
- 24/7 support
- Sales channels and the option to integrate external inventory locations
- Marketing tools such as discount codes, gift cards, and email automation
- Fraud analysis and payment support
Money made from subscriptions also covers the internal apps available for enhancing various features of the consumer journey and buying process. Many of these apps are exclusive to Shopify and have been developed by their own team. The Shopify app store also features popular brands eCommerce brands including Klarna and Google Channel.
This huge figure, which is expected to be beaten in 2022, was also a 45% increase on 2020 figures. This was registered in the form of more than 5 million jobs which were created thanks to the business success that Shopify offered companies of all sizes.
Shopify makes it clear that its priority is always to ensure that when it comes to sales, the retailers are the ones making the most money. This is represented by the fact that in the same period, for every $1 revenue that the company made, the associated merchants made an average of $36.
Whilst Shopify is a big business, it is this small business ethos that has been maintained which is one of the many reasons that it is a brilliant choice for companies of all sizes to partner with.
5. Shopify’s Gross Merchandise Volume (GMV) reached nearly $47 billion in the second quarter of 2022.
This measure, which represents the total amount earned by a brand over a certain period, was also up by $5 billion based on the same period year on year.
On a side note, Shopify boasts many in-built inventory features which also makes it popular amongst eCommerce retailers. Allowing companies to sync up with distribution and fulfilment centres, Shopify offers the full functionality of a CRM system without companies must spend a high amount on their digital maintenance.
6. Shopify has committed more than $32 million to climate change entrepreneurs.
The move seems them cement the position as being one of the large corporate purchasers of long-term carbon removal which appeals to move consumers and businesses alike.
It is also themed like this which means Shopify appeals to consumers, with 81% of consumers saying they prefer to associate with ethical companies. Shopify has cleverly branded itself as a green and environmentally aware company so that any brands associated with them also get to benefit from the same status. This in turn means that consumers already have a positive view of Shopify, so any businesses will receive the same positive brand perception.
Shopify Business Statistics
Whether you are a small business just starting or an internationally known brand, Shopify offers the perfect solutions for everyone. The reason? The website builder has everything that a business could need not just to create an elevated online store but also to run a dynamic eCommerce company. Products also start from just $29 per month which includes reporting, full design capabilities and inventory locations meaning it offers great value for money for business owners.
This has resulted in many websites being thrown into the consumer world with some impressive business statistics arising.
7. Shopify has more than 5.6 million online stores available via its platform.
One of the reasons that Shopify is so popular is that the platform caters to companies of all sizes and industry types. From clothing retailers to brand-only websites, it allows businesses from all sectors to create a unique place on the web which is why we think so many stores have chosen to optimise the services. This figure is also made even more impressive when you consider that competitor WordPress only accounts for 455,000 websites globally.
8. Shopify is available in 175 countries.
Shopify brands itself as a ‘community for makers, creators, and inventors’ which are the targets that they aim to meet the meets on in every country that they operate within.
Tobi Lütke, Founder and CEO of Shopify, have also commented the following, “Through our platform, over half a million entrepreneurs have turned their dreams into reality. Entrepreneurship is the foundation of the global economy and it’s not easily done alone. That’s why our mission has always been to make commerce better for everyone to encourage anyone, anywhere to become an entrepreneur.”
It is this unique business model that appears to us as a digital marketing agency as it proves that Shopify truly understands the need of its merchants and consumers. It is this brand ethos and ability to support small businesses that have meant Shopify is globally successful.
9. Globally, there are more than 25,000 domains which run Shopify plus.
Designed to offer elevated eCommerce capabilities and to support high revenue, Shopify plus is the premium offering that businesses of all sizes can choose to adopt.
Having increased continually since its launch in 2014, Shopify Plus is used by some of the biggest eCommerce stores in the world including Kylie Cosmetics, Deliveroo, and Chilly’s. By managing to secure some of the biggest names in eCommerce, Shopify truly has reinforced its position as a contemporary CRM and CMS solution.
Source: https://storeleads.app/reports/shopify/list-of-shopify-plus-stores
10. Shopify is the tenth biggest leading online services provider in the world as of June 2022.
Based on the platform’s ability to provide services to its merchants, the inclusion of Shopify in this category shows its strength across the internet. Whilst we are not surprised at the companies which are ahead of Shopify in the rankings, we predict that they will continue to climb the ladder significantly over the next decade.
Source: https://www.statista.com/statistics/208843/stock-market-value-of-web-based-companies/
11. Two-thirds of Shopify’s stores are based in the Americas.
The website giant is clearly aware of this popularity, as they have made a number of updates in 2022 to support US businesses including features which make it easier for complex US taxes to be managed. Launched in September 2022, the tool is just one of many which are aimed at SME businesses that make up most of the online stores available on the platform.
It is also this willingness to tailor solutions to different regional needs which makes the platform stand out as our website provider of choice.
https://www.statista.com/statistics/1155127/shopify-shops-by-region/
12. There are more than 150,000 stores which use Shopify in the UK alone.
Second, only to the USA, the UK is a huge supporter of Shopify. This can be represented in the fact that stocks surged by 19% on the London Stock Exchange in October 2022 at a time in which many companies are struggling to see rises.
The recent expansion of the ERP programme has also enhanced the experience that UK merchants are set to benefit from as several resource integrations are now available via the platform. Designed to bring merchants and partners together to improve supply processes and cross-country sourcing, the feature continues the promise that Shopify has made to help small businesses succeed in the toughest of times.
Source: https://backlinko.com/shopify-stores
13. 81% of all Shopify traffic comes from mobile sources.
Shopify offers excellent computability for mobile stores, with their websites featuring many auto-resizing and mobile optimisation features for the modern consumer.
With 53.8% of web designers confirming that websites not working on mobile devices as being their main pain point, it is easy to see how Shopify has met industry-wide needs for better stores. This is also the reason that we choose to work with Shopify as we understand that for companies to remain reactive and dynamic, they need to be appealing to modern consumers. People don’t want to be sitting on a laptop to make quick purchases. Shopify proves that full-blown professional websites can be available in the hand of the consumer in just a few clicks.
As Shopify is ideal for smaller companies and ones looking to transfer to digital selling, this development feature is a must-have that people would not always consider.
Dependant of course on seasonal trends and traffic, this represents a huge eCommerce opportunity for the businesses that have storefronts on Shopify. Whilst individual website traffic will differ depending on how well it has been optimised and its visibility, this does show the internet coverage that Shopify has.
This figure is also sure to rise as the disposable income of younger, more eCommerce generations, starts to rise over the coming years.
Shopify User Statistics
Shopify isn’t just designed to be simple for businesses to use but also optimised for easy consumer engagement. The professional templates and features mean that companies can create user-journey-focused stores in just a few clicks. There are also more than 100 well-known payment providers available on Shopify meaning that every element of the customer journey has been taken care of.
This ease of use means that usage of Shopify stores shows some very positive trends.
15. Instagram is used by 57.2% of Shopify stores in England.
Shopify allows seamless integration with social media platforms which supports the trend of mobile purchasing being the preferred method of shopping by the modern consumer. Instagram is known for being a shoppable app which is continually working to improve its user experience.
Alongside Instagram, Facebook is used by 47.4% of stores and Twitter by 20%. This is something that we are not surprised by as our own social media marketing services also support both Instagram and Facebook optimisation.
From the integration of striking widgets to URL-compatible domains, Shopify is ideal for use with many social media platforms.
16. 64 million people that use Shopify stores are repeat customers.
In fact, repeat purchasers shopped an average of 3.8 times in the same store. This far exceeds the industry standard of 20-40% of returning customers and represents that Shopify does provide an elevated experience for both retailers and consumers alike.
The platform is also built with many features which retailers can use to improve their customer return rates. These include different marketing tools, automation, in-built analytics, and advertising plug-ins which can all be tailored to an individual business’s needs.
Shopify apps also make it simple for companies to improve customer return rates, with popular outreach sites including MailChimp and Hubspot being available for simple integration.
It is therefore not just the elevated experience but also marketing tools that allow retailers to secure loyal customers thanks to their Shopify stores.
17. 80% of sales are achieved directly from online storefronts.
This is a huge amount considering that on average, only 43% of traffic comes from organic sources which are most commonly associated with storefront referral traffic.
Shopify offers excellent personalisation features, with retailers being able to choose from a selection of themes or create their own. This means that companies can create truly unique websites without having to invest in costly design services or having the knowledge themselves.
The ability to easily include metadata and optimised alt-tagged content means that Shopify stores can be SEO enhanced easily which improves their chance of appearing in search results.
Shopify UK Operations Statistics
The goal of many online retailers in 2022 is to harness the global market, which Shopify facilitates. With functionality for most languages and regions, the provider is a powerhouse in the world of eCommerce and one of the main website providers in the UK.
Shopify is also ideal for companies to use when they are trying to weather the storm associated with a lack of consumer spending. In the UK, it is thought that one of the main key success factors for online retailers is having efficient payment processes. This is just one of the many reasons that mains Shopify ideal for UK consumers as this is one of the brand’s strengths. With 48% of UK consumers saying they will be looking to spend less over the coming year, we think that Shopify platforms will remain optimised to grab the diminishing levels of traffic.
Here are some of our top statistics that showcase just how Shopify operates within the UK currently.
18. In England, there are more than 32,000 Shopify apparel stores making it the most popular category for sales.
Followed closely by Home and Garden (18,792 stores), Beauty and Fitness (13,586 stores) and Food and Drink (9,619 stores), the disposable income market is being targeted with the help of Shopify.
These stores are also set to still keep flourishing as, despite consumer spending dropping across the UK, expenditure on apparel has still managed to increase by 1% versus 2021.
source: Shopify stores provide jobs for more than 500,000 people in England alone.
19. Shopify stores provide jobs for more than 500,000 people in England alone.
As you can see from the below table, stores with less than nine employees are the biggest contributing factor but big businesses with over 5000 people are also accounted for. Whilst eCommerce may be seeing the high street diminish, it is great to see that jobs are still available for people within retail settings.
source: Shopify stores provide jobs for more than 500,000 people in England alone.
20. The top Shopify store in the UK belongs to apparel giant, GymShark.
We think this brilliantly represents the eCommerce power that Shopify has as the gym wear brand started its days as a small business themselves. Proving that the Shopify business model of wanting to support entrepreneurs does work, Gymshark recorded a 50% increase in profits this year which equated to £45.4 million.
Worldwide, the most popular Shopify store belongs to ColourPop cosmetics who are based in the US.
You’ve learnt about Shopify statistics. Now check out the top statistics on other platforms:
25 PPC & Google Ads Statistics
20 Snapchat Statistics[/vc_column_text][vc_column_text el_id=”marketing” css=”.vc_custom_1667228022859{margin-top: 2% !important;margin-bottom: 2% !important;}”]
Are you convinced that Shopify is the eCommerce platform for your business?
As experts in all things digital marketing, Shopify development is just one of the many website services that we offer. Even though we have spoken about the merits of being able to create your own website, to elevate your brand in terms of awareness and SEO, you still need to apply targeted content to Shopify stores which is something that we can help with!
If this is something that you would like to find out more about, you can book a free consultation by scheduling a call with Creative Marketing (NW) Ltd on 01706 495091 or contact us here.
