Shopify eCommerce Market Share By Sales
90% of revenue share in the B2C physical goods eCommerce ecosystem of Shopify was generated by 12% of websites. The top 0.01% comprising 65 Shopify merchants including Tesla, Pepsi. LVMH and Red Bull generated 18% of the web sales. About 4,200 merchants generated 50% of all web sales. 87% of Shopify merchants make less than $1M in web sales but collectively generated $35B in web sales making up a healthy 10% of Shopify's market share.
Shopify eCommerce Market Share by Region
The Canadian company is highly popular in North America, holding 70% of the region’s total merchants/stores. Moreover, North America is a prominent market for Shopify with sales of $292B generated by Shopify stores which is 76% of Shopify's global market share .
23% of all eCommerce websites in the US are powered by Shopify and in its home country Canada, Shopify has a market share of 25% of all eCommerce merchants making it the eCommerce platform market leader.
Shopify Market Share by Traffic:
3% of the global top 10,000 websites by web traffic are Shopify-powered eCommerce websites. Among all eCommerce technologies, Shopify has the highest market share of merchants among the top 500,000 sites.
Shopify’s Future & 2021 Trends:
Shopify has come a long way to become a major contender to Amazon’s hold on eCommerce. From 25% of Amazon’s GMV in 2018, Shopify’s ecosystem grew to 40% of its GMV in 2020. More importantly, it remains the only profitable company among all eCommerce technology companies with a decent cash flow. Therefore, it shall continue to grow leveraging its significant share of omnichannel merchants as more and more retailers go digital following the change in consumer preference. A big part of its continuing growth will be its payments platform Shopify Pay which is already a preferred payment system for merchants on Shopify and contributes more than 60% of Shopify’s overall revenue.