Shopify is one of the most preferred ecommerce platforms. Currently, it has over 4.3 million live sites, grabbing a market share of 10.32% worldwide.
At the same time, the platform tops the e-commerce platform market in the United States with 28%.
Interested in exploring more data about Shopify Market Share?
To provide you with more details of Shopify’s Market Share, we have collected the latest data from the financial reports of Shopify and other trusted sources.
So what’s the wait for? Let’s get into the details.
Shopify Market Share In 2023: At a Glance.
- Shopify ranks 4th among the top 5 eCommerce platforms worldwide, with a market share of almost 11%.
- Shopify owns 28% of the e-commerce platform market share in the United States.
- The market capital of Shopify is 74.09 billion as of the 2nd quarter of 2023.
- As per CMS usage data, Shopify has a 3.8% market share, followed by WordPress.(43.1%)
- Shopify powers 4,309,969 active websites across the world.
- Shopify holds a 2.54% share in the top 1M websites.
- Shopify beats Woocommerce with a 2.72% market share among the top 100k websites.
- Shopify powers the most top-ranking websites worldwide.
- 62.21% of Shopify stores are US based.
- North America is Shopify’s biggest market.
Bonus: If you are interested to know further facts and figures related to Shopify, then check out Shopify Statistics here.
Shopify Market Share In The Global eCommerce Market
More than 26 million eCommerce websites are there globally, and this number will touch new heights in the upcoming years.
Data fetched from Statista says Woocommerce is the leading eCommerce platform worldwide as of 2023, with a 39% market share. While Woo Themes and Squarespace’s Online stores are positioned in the second and third, respectively, Shopify ranks in the 4th position with a market share of almost 11%.
Image Source: Statista.
However, these statistics imply that Shopify ranks among the top 5 eCommerce platforms worldwide, leaving Wix (another giant eCommerce platform)behind.
Also, if we look at yearly trends of CMS usage provided by W3Techs, we find Shopify ranks second with a 3.8% market share, whereas WordPress ranks top with a market share of 43.1%.
Image source: W3Techs.
In fact, Shopify has a total of 4,309,969 live websites across the globe, among which 2,681,566 are in the US only. And we’ll discuss it in more detail when we will see Shopify’s Market share by country-wise.
Shopify Market Share in The United States
Shopify owns the highest market share in the United States. It owns 28% of the market share in the nation.
The second highest share belongs to WooCommerce Checkout, with 17% of the share. And the third highest belongs to Wix Stores, with 16% of the share.
Here is a table displaying the market share owned by Shopify in the ecommerce industry.
|E-commerce platform||Percentage of market share|
|Squarespace Add to cart||14%|
Shopify Market Share In Top Websites (By Web Traffic)
- Among the top 1m websites:
So, will Shopify beat Woocommerce’s market share in this criteria?
As you saw, Shopify powers 25,446 websites among the top 1m eCommerce websites and posits just behind Woocommerce, which powers 28,520 websites (2.54%). And Magento comes third with 8,043 websites.
If we take a deep look, Shopify is not far behind Woocommerce as far as the study by BuitWith is concerned. So, anytime Shopify can take the lead.
- Among the top 100k websites:
|2,722 (2.72%)||1,679 (1.68%)||999 (1.0%)|
Now, if we check Shopify’s market share among the top 100k websites, Shopify becomes the leader by blocking Woocommerce successfully. And Magento comes third as usual.
- Among the top 10k websites:
|385(3.85%)||189 (1.89%)||156 (1.89%)|
There are 4,901 eCommerce websites among the top 10k websites worldwide. And Shopify again takes the lead surpassing all the giant eCommerce platforms with 385 websites.
In a nutshell, Shopify powers the top-ranking websites (revenue and traffic-wise). But still, Woocomerce is ruling the overall high-quality websites.
Shopify Market Share By Regions & Countries
Here is the list of the top 5 countries where Shopify is widely used:
|Countries||Total Websites||Percentage share in Shopify Websites|
|The United Kingdom||189,147||4.38%|
Now, some key factors of country-wise Shopify market share:
- 62.21% of all Shopify stores are US based, making it the ultimate hotspot of Shopify.
- Shopify’s biggest market is North America, with a revenue share of 71%.
- Shopify is highly-popular in English-speaking countries, and its top 3 countries prove this statement.
- Shopify has made its impression in the Asia-pacific eCommerce market – credit goes to its partnership with eCommerce.
- Apart from the top 5 countries, Shopify is also popular in Canada, France, India, Netherlands, and Italy.
- Shopify only powers 8,620 stores in China.
- Except for Shopify’s Lite plan, its other plans support 20 languages worldwide.
Shopify Market Share By Revenue
Here, we have compiled some facts that’d help you understand Shopify’s market share by revenue. Let’s see:
21. According to Shopify’s latest financial report, Shopify currently generates $5.6B. In 2021, Shopify’s revenue was $4.61B. The following chart will give you more idea:
22. In the second quarter of 2023, Shopify generated quarterly revenue of $1.7 billion.
While in the last quarter of 2022, it generated a revenue of $1.73 billion which was reduced to $1.5 billion in the first quarter of 2023.
The following table displays the revenue of Shopify recorded over the past quarters.
|Quarter||Revenue generated by Shopify.|
|2nd Quarter 2023||$1.7 billion|
|1st Quarter 2023||$1.50 billion|
|4th Quarter 2022||$1.73 billion|
|3rd Quarter 2022||$1.36 billion|
|2nd Quarter 2022||$1.29 billion|
|1st Quarter 2022||$1.20 billion|
|4th Quarter 2021||$1.38 billion|
|3rd Quarter 2021||$1.12 billion|
|2nd Quarter 2021||$1.11 billion|
Source: Shopify, macro trends.
- In 2020, Shopify merchants together generated $307 billion, making it the second-largest company in the world.
- As of June 2023, Shopify’s monthly recurring revenue was $139 million.
- The total revenue from Shopify’s subscription is o $444 million as of 2023.
- By market cap, Shopify is worth $74.09 billion as of Quarter 2 2023.
- Shopify’s average revenue per customer is $92.
- Collectively, Shopify merchants contribute as the largest workforce in the world, with an overall of 3.6 million jobs.
Shopify Market Share By Online Stores And Merchants
Here are some latest statistics that would help you get a clear idea of Shopify’s active stores and merchants as of 2023:
- According to BuiltWith, Shopify has a total of 6,372,38 websites. Among them, 4,582,355 are currently active, and the rest are abandoned sites that used Shopify historically.
- Over 6.25 million online stores have been set up with Shopify so far (Since it was founded).
- The number of Shopify merchants increased enormously in the year 2021-2022.
|Year||Number Of Merchants|
- The total number of Shopify stores tripled during Covid 19 pandemic – that we can name Shopify’s golden age.
- More than 1.2 million people are using Shopify’s backend platform.
- The success rate of Shopify stores is an average of 10%.
Shopify Plus Market Share
As we are talking about Shopify, we must include Shopify Plus – the most expensive solution for enterprise-price-level businesses. Unlike regular Shopify plans, Shopify offers more customized services to businesses with expert guidance.
Now, let’s check Shopify Plus’s market share:
- There are a total of 41,457 Shopify Plus websites, among which 33,076 are live websites.
- Shopify Plus stores increased by 18% in Q4 of 2022.
- A total of 19,401 Shopify Plus customers are there in the US only. And Next is the UK, with 2,063 Shopify Plus customers.
- Apart from that, Shopify Plus is also popular in Australia and Canada, with 1,974 and 1,870 stores.
- Last year, Shopify Plus stores generated $36.6 million on average per month.
How does Shopify differ from Shopify Plus?
Check out our detailed comparison here.
Conclusion: Shopify Market Share (2023)
Shopify is undoubtedly one of the giant eCommerce platforms. And, as far as our research is concerned, it’ll grow more and touch new milestones in the upcoming years.
At the same time, Shopify is also a good choice if anyone is looking for a stand-alone eCommerce store without any extra hassles.
And we’ll update you in our future articles if any change in Shopify market share takes place.