Analysis Of Shopify Ecommerce Market Share | 2021 Growth Estimates
Updated as of Jul 10, 2022
Shopify Market Share
$382B
Total Active Shopify Store
996,733
Globally, Shopify powers 15% of all B2C physical goods eCommerce websites with substantial business and is next only to WooCommerce Checkout in market share. Shopify's market share is estimated to be $382Bin 2021, which is 21% of the worldwide esales and ahead of all its competitors. Shopify now has almost 40% of Amazon's GMV.
Shopify Market Share by Revenue
| •<1M | 87.63% |
| •1M-50M | 11.78% |
| •50M-100M | 0.3% |
| •100M-500M | 0.26% |
| •500M-1B | 0.02% |
| •>1B | 0.01% |
Shopify Market Share by Web Traffic
| •>3M | 85.65% |
| •1M-3M | 12.39% |
| •500K-1M | 1.05% |
| •100K-500K | 0.69% |
| •10K-100K | 0.19% |
| •<10K | 0.03% |
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Shopify Market Share By Region
| •Africa | 0.81% |
| •APAC | 7.87% |
| •EU | 15.82% |
| •Latam | 1.47% |
| •North America | 70.23% |
| •Others | 3.8% |
Shopify Market Share By Country
| •Germany | 2.43% |
| •Canada | 3.96% |
| •Australia | 4.22% |
| •United Kingdom | 5.82% |
| •United States of America | 68.02% |
| •Others | 15.55% |
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Detailed Analysis And Insight on Shopify Market Share | 2021 Estimates
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.
