Founded in 2006 by three Canadians, Shopify has become the most popular eCommerce platform with over 1.75 million sellers globally. Shopify was a start-up experiment, by the way, at first. But, with each passing year, the revenue started to take a fly, and now, with over $2.10 billion in 2021, it is ruling the eCommerce segments like no other.
Not only in revenue, but recently, Shopify surpassed the buyer number. With more than 457 million buyers per year, it has witnessed immense growth in merchandise segments.
Well, those are astounding numbers and far beyond expectations. This blog will guide you through in-details facts about Shopify, Gross merchandise volume to provide a clear picture of Shopify revenue 2022.
Key Facts About Shopify
From a start-up to the most in-demand eCommerce platform solution, Shopify has emerged as the prime revenue source of millions of merchants worldwide. To understand it from the inside out, let’s dive into some interesting facts about Shopify in the following content section.
- Shopify was an experimental start-up started by three Canadians in 2006 as a reference to poor shipping cart experiences to snowboarding equipment.
- Shopify is the prime source of selling online for over 75 million merchants globally.
- You will find more than 100 themes with 3-4 variant Shopify theme stores to give your eCommerce store a modern look.
- Shopify merchants witness 457 million users’ shopping experiences every year.
- Shopify enriched $79.5 billion eCommerce sales in different categories in the first half of 2021.
- Around 7 000 employees and contractors work at Shopify.
- There are 7 000 apps present in the Shopify App Store.
- With an increasing rate of 86% in the past two years, Shopify’s revenue jumped to $3.331 billion in 2021.
- There are over 76 million live websites that use Shopify.
- The majority of the domain (69.67%) registered in the United States.
Well, these are some of the top facts about Shopify that you can take into consideration. While the above numbers represent Shopify success and how much global eCommerce merchants have adapted Shopify in the past couple of years.
Shopify Gross Merchandise Volume
Although the gross merchandise volume doesn’t contribute to Shopify revenue directly, it still impacts overall payment processing revenue growth.
Considering the previous two years’ gross merchandise volume record, Shopify reported $119.58 billion gross merchandise volume. At the end of 2021, the gross merchandise volume increased to $121.3 billion.
( source – https://www.marketplacepulse.com)
Shopify Revenue Highlights
Combining the last two years’ quarter reports, Shopify generated a total of $3.231 billion in revenue. Alone $1.124 billion in the second quarter itself. This is by far the highest revenue generated by Shopify.
Compared to 2020 revenue, Shopify is able to increase its revenue by 57%, which is a good sign for the company to accept more in the coming years.
(Source – https://ycharts.com )
Shopify Merchant Solutions Revenue
The Shopify merchant solution revenue comes under the “Merchant Solutions” category. The merchant solutions revenue generally consists of primary payment processing fees, including referral fees, advertising revenue, and point of sales (POS) revenue.
On a good note, the merchant solution category represented 68.9% of revenue in 2021. The total revenue generated by merchant solutions is $2.287 billion.
( source – https://www.marketplacepulse.com)
Shopify Revenue by Region
It is indeed a general fact that Shopify will track where its revenue is coming from by looking at their merchants’ locations. In 2020, Shopify generated $2.15 billion from sellers located in North America, 73.3% of regional revenue.
In contrast, outside North America, Shopify generated $780 million in regional revenue.
Apart from the above, Shopify is able to generate revenue from many other regions, which are:
- Europe, Middle East, and Africa (EMEA) – $454.27 million (15.5%)
- Asia Pacific, Australia, and China (APAC) – $292.24 million (10%)
- Latin America (LATAM) – $36.16 million (1.2%)
Shopify Subscription Solutions Revenue
It is fascinating how Shopify manages to generate revenue through subscription solutions. However, the subscription solution does play a key role in improvising Shopify revenue 2022 in a significant way.
Evaluation of Shopify’s solutions revenue category includes platform subscription fees, point of sales (POS) sales, App sales, domains, and themes.
A sneak peeks into the last five years subscription solutions revenue:
- 2021: $991.2M
- 2020: $908.7M
- 2019: $642.2M
- 2018: $465M
- 2017: $310M
Well, it comes as no surprise looking at the above numbers. Meanwhile, it is a clear indication of how immensely Shopify has grown in the last couple of years.
Shopify Monthly Revenue
Shopify follows simple metrics while calculating monthly revenue. The metrics involve calculating the average subscription fees from the merchants with the total number of merchants.
Compared to the monthly revenue income in 2020, $82.61 million, the monthly revenue has grown to $98.8 million by the end of 2021.
( source – https://www.marketplacepulse.com)
Future Beholding’s of Shopify Revenue
The above elaboration and numbers of Shopify revenues indicate rapid growth in the years to come. Also, the increasing demand for eCommerce business globally has impacted Shopify revenue immensely, even during the pandemic.
Below, enlisted some future predictions for you to consider:
- It is expected that the Shopify revenue 2022, subscriptions, and Point of Sales (POS) number will enrich new heights as the eCommerce business is at its peak at the moment.
- By looking at the usage and demand of Shopify amongst users, most likely, the company will hire an enormous number of engineers to provide a hassle-free experience.
- More global merchants are expected to join the Shopify merchants solution committee in the next quarter, a positive sign of higher merchant revenue growth.
- Gradually, the fourth quarter of the year ends with the highest revenue collection, and Shopify is willing to continue the trend without any interruption.
- By providing more options in the Shopify Shopping and Shopify Capital category, Shopify plans to attract/hold more merchants, existing merchants, and growing product offerings.
Number of Apps Available in The Shopify Store
We have already mentioned the number (7 000) of apps available in the Shopify app store. But, this was the latest number, spanning 12 different categories.
Before 2015, the number surge around 3 500-700. After 2018, the number of Apps increased to 3 300, with a totaling 7 000 now available for your use.
Since 2015, the Shopify App count has increased to 677%.
The Number of Shopify Sites
Globally, over 3.76 million live websites are currently operating on the Shopify platforms. More so, 66.67% of Shopify sites are registered in the United States only.
The United Kingdom and Australia are in the second and third place of highest numbers of Shopify websites. The numbers are a clear sign of Shopify merchants operating in those regions.
- United States:5 million
- United Kingdom: 153k
- Australia: 99k
- Canada: 91k
- Germany: 76k
- France: 58k
- Brazil: 43k
- Netherlands: 33k
- India: 31k
- Italy: 25k
These are the numbers of Shopify users. Apart from these, Shopify comes with updated versions of Shopify Plus, which has immense popularity amongst users.
Shopify Plus has more than 6 000 websites running worldwide with advanced features and functionalities.
The number of Shopify plus sites users regions wise:
- United States:5k
- United Kingdom: 600+
- Canada: 400+
- Australia: 400+
- Germany: 100+
- France: 100+
- Netherlands: 60+
- New Zealand: 50+
- Denmark: 40+
- Spain: 40+
Hire Shopify Experts from Metizsoft Solution to Develop Best Shopify Apps
Ever since Shopify announced its arrival with an easy-to-operate and advanced features eCommerce solution, the eCommerce industry has taken up a fly. Also, the ease of shopping nature of people has contributed equally to boosting eCommerce and Shopify revenue.
In this competitive era of digitalization, having a Shopify company counts as an asset. Not only for the design and development aspect but maintaining and marketing analysis t improve the overall performance of your Shopify App.
We have the source and hands-on experience in advanced tools to create the best Shopify app relevant to your eCommerce business model.
So, it is in the best interest for you to enrich Metizsoft Solution – the best Shopify Development Company to build the best Shopify App that will take your business to the next level.
The eCommerce business has been increasing in the last couple of years. Along with it, the demand for eCommerce platforms shares similar contrast with the business. The above numbers also indicate that the coming years will be rock solid for Shopify.
While all the aspects of Shopify are in the right direction with lots of positivity, how come we thought about any hindrances.
So, with a positive perspective, we think Shopify revenue 2022 will shine like the Sun, and we can witness more updates in features and new components to work on for better business outcomes.
It would be great if you could share your thoughts on this. We acknowledge your efforts with a suitable answer in the comment section.