Establishing a professional online business may be a frightening process, one where the Shopify developers ended up going through. The majority of responses stem from the desire to fix one ‘s personal issues.
Nevertheless, as Shopify data show, what began as a method to assist one person discover the finest technique to promote mountain bikes online rapidly grew into one of the largest ecommerce websites supporting all types of businesses.
Now, as long as it’s legal, there aren’t many restrictions on whatever you might sell on Shopify. The technology is simple to use, inexpensive, and provides substantial customer service.
So, let’s explore some key statistics and facts.
- Shopify has over one million stores in over 175 countries. In 2019, the firm reported that its global merchant base reached one million.
- According to Shopify market share estimates, Shopify is the third largest preferred drop shipping platform with 11.80 percent, trailing only Square Space at 21 percent and WooCommerce at 27.86 percent.
- The $2.457 billion is a 73.4 percent increase over the previous year’s total of $1.578 billion. Shopify’s overall income will reach new heights as a consequence of the Q4 results, which include a holiday shopping season like nothing else.
- There are reportedly approximately 218 million purchasers on the site since June 2019, including over $100 million in annual transactions so far. By October 2019, Shopify’s total revenues had risen to considerably over $135 billion.
- Shopify became official on the New York Stock Exchange in May, with shareholdings selling for $26 at the time. Investors had no idea that Shopify would develop into the behemoth that it is presently, with stocks fetching $332.67 each.
- By the end of 2019, 71 percent of these 81 percent of transactions were placed using mobile devices. In 2018, this proportion increased from 67 percent to 77 percent. Search engine crawlers drive the bulk of Shopify visitors, accounting for 28.93% of all visitors.
- While celebrity endorsement is still the primary important source of business, Shopify’s traffic is virtually completely organic. Shopify (14.8 percent), Shopify Login (6.97 percent), Business name generator (0.70 percent), Shopify applications (0.62 percent), and Shopify Themes are the five most important organically Shopify keywords (0.64 percent ).
- Shopify (5.06 percent), Drop shipping (0.19 percent), Etsy (0.24 percent), Shopify Pricing (0.08 percent), and Web Store are among the paid keywords for Shopify (0.06 percent ).
- On average, the Shopify rate of exchange is between 1.5 and 1.75 percent. Some larger retailers exceed 2%. There are exceptions, and firms that are truly successful have conversion rates ranging from 10% to 12%. The average bounce rate for a website is between 26% and 41%. At 53.23 percent, Shopify’s bounce rate is rated outstanding.
- Merchants may pick from over 100 free and premium Shopify themes for their shops. All themes are custom developed and produced for each person while maintaining the elements to enhance purchases in consideration. Workiee and Porto (used by over 40,000 eCommerce sites) are two of the most successful merchant themes in 2020.
- According to Shopify traffic data, the majority of these visitors are from the United States, with 39.50 percent making transactions on desktop computers. The number of visits is followed by Canada (6.10 percent), the United Kingdom (5.46 percent), Australia (3.99 percent), and India (2.92 percent). SimilarWeb.com’s live figures are updated on a regular basis. The average Shopify visit lasts about 3 minutes and 52 seconds and involves interactions with at least three merchants.
- The biggest selling on Black Friday was $102 million per hour at 12 p.m. ET. The most products were bought in the areas of clothing and accessories, health & beauty, and lawn and garden.
- In comparison to the preceding year, 50% additional individuals ordered from autonomous and direct-to-consumer firms on Shopify.
- Together New York and London were the top-selling places in the globe. The top three selling nations were the United States, the United Kingdom, and Canada. The early start time for the 2020 holiday season is particularly notable. So, in the week preceding Cyber Monday, overall sales climbed by 84 percent over the previous year.
- Consumers prefer mobile ordering, including 67 percent of transactions performed on mobile devices and only 33 percent on desktops and laptops.
- Shopify Plus has over 5,300 companies. Premium labels like Lorenzi Milano, Bremont, The Wool Company, and Victoria Beckham are among those involved.
- Shopify Plus businesses produce revenues ranging from $1 million to $500 million. Every minute, Shopify Plus receives 10,149 maximum purchases.
- Every year, the amount of Shopify Plus merchants increases by 126%. Furthermore, Shopify Plus sellers possess revenue figures ranging from $1 million to $500 million, and somehow this incorporates Fortune 500 firms as well as rising businesses.
- Over $100 million in app earnings have been earned by Shopify, as 87 percent of merchants use them for their companies. Shopify has 1,323 application developers working on new features and plugins. By the end of 2018, Shopify has over 2,426 apps in its ecosystem, and this figure is growing. Every Shopify merchant employs an average of six applications.
- On the app store, there seem to be over 2,400 Shopify applications. There are almost 2,400 Shopify applications, including 1,815 (74.8 percent) premium apps and 611 free apps (25.2 percent ). Of them, 2,038 (84 percent) are still active.
- International B2C ecommerce is expected to grow from $4.2 trillion in 2020 to $4.9 trillion by 2025. Retail e – commerce sales globally reached $3.35 trillion in 2019, and this figure is anticipated to quadruple by 2022. The figures for B2B and B2C ecommerce combination are much more intriguing: the overall industry is expected to be worth about $10.36 trillion in 2020.
- Asia has the highest rating for ecommerce national markets ($831.7 billion). North America ($552.6 billion), Europe ($346.50 billion), Australia ($18.6 billion), Africa and the Middle East ($18.6 billion), and South America ($17.7 billion) follow.
- Shopify has approximately one million enterprises in 175 countries. Shopify is only 20 nations away from absolute world dominance since these countries prohibit access to the platform owing to stringent state internet laws.
- According to Shopify use data, over 400,000 people utilize the platform, with over 5000 of them utilizing Shopify Plus. According to Shopify shop data, the platform serves over 600,000 enterprises globally.
- According to Shopify ecommerce industry data, the Shopify market share in 2018 amounted for 23 percent of the entire ecommerce software industry in the United States.
- Shopify’s revenues and profits increased by 47 percent between 2018 and 2019. In 2018, total revenue of $1.073 billion was achieved, while 2019 revenue topped forecasts by a staggering $1.48 billion. The ultimate revenue number for 2019 is $1.578 billion.
- With $636.1 billion in sales in 2018, China now has the highest five-year growth rate of 70.7 percent. The United States comes in second with 45.7 percent five-year increase and $504.6 billion in overall ecommerce sales in 2018. The highly aggressive Chinese market has effectively pushed the United States to second position. From 2015 to 2020, the United States’ proportion of global retail ecommerce transactions fell. Another 16.9 percent drop is expected in 2020.
- By 2023, Asia Pacific (APAC) is anticipated to have surpassed global retail online sales. There are several causes for this significant shift, but the primary ones are technology improvements and growing urbanization. Around this time, APAC will be home to 85 percent of the world’s middle-class inhabitants, making it ideal for ecommerce enterprises.
- Profits are expected to rise 41.4 percent per year by 2021, making 2021 a bright year for Shopify. A Shopify stock prices $1,125.06 at the time of posting. Shares are likely to grow as earnings are forecast to climb by 31% in 2021.
- According to Shopify ecommerce data, the top-grossing firms in 2019 were Budweiser, with more than $11 billion in revenue and more than $7 billion in sales, and Tesla Inc., with more than $11 billion in revenue and more than 16,000 sold automobiles.
Final Words
While researching for a framework for a digital business one factor that sticks out is how inexpensive and dependable it is, as well as how many problems it can address.
Without a question, Shopify is a market leader.
Furthermore, Shopify provides site hosting and addresses code difficulties in a timely and cost-effective manner.
Its application marketplace has a diversity of products for just about whatever you can think of.
According to Shopify data, the platform has a fantastic 90 percent customer satisfaction rating, providing the confidence you might have to know you’re in excellent hands and being taken care of.
A fundamental truth at the initial phase of each profitable e – commerce journey.
