In the online business world, ‘Shopify’ is a name that needs no introduction. Shopify, as an eCommerce platform, has gained popularity worldwide. This popularity is backed by many benefits provided to online store holders and customers.
Even in cutthroat competition, Shopify has maintained its position. This platform helps businesses have a robust online presence and channel business digitally. It also aids in establishing a virtual customer base, leading to better visibility and increased sales.
Shopify is a platform that offers a wide range of tools that ultimately help Shopify dealers analyze and perform better with tools and analytics. It also gives room for customization, and with the help of customization, one can enhance the user experience of Shopify as a platform. Designing the store as per the requirements will help attract more customers. Once a unique identity is created, it becomes effortless to establish a brand name.
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Market Leader of E-Commerce Platforms
There are many players, but it’s ruled by one! Out of all the platforms in the market, Shopify is a clear winner holding the largest market share in the US! It has clearly and fairly outperformed all the competitors.
Shopify’s popularity is a success that has been around for a while. Shopify, as an eCommerce platform, has offered its dealers (small and big) a valuable experience, and that’s the reason it has topped the list as a Market leader.
However, there are other platforms. With many features, a struggle-free experience, and a hassle-free experience, Shopify has made a place that shines brighter than other online business platforms.
If you are eager to start an online store on Shopify and are puzzled about business ideas, here’s a tip that will solve your problem and help you establish a successful business store on Shopify.
If you are wondering why Shopify is trending at number one position, holding 32% of the US market share, here’s a sneak peek at the platform and its overall performance.
Irrespective of the size of the business, Shopify provides all the required facilities to small and big companies or dealers registered on their platform. This platform has room for inventory management, updated plugins, an easy customer surfing experience, and more. Its tool will meet all the expectations and features needed to run an online business quickly.
Moreover, customization options are always available. You can design and operate your store as per the requirements. Customization will give the liberty to set an ecosystem as per will. The tale of flexibility doesn’t end here, as there are nearly 6,000 apps that can be used to customize the Shopify store.
What Is the Market Dominance of Shopify?
Shopify’s popularity shows that it has captured the market at large. So, let’s take a look at what the numbers say.
The 2020 reports statistically indicate that Shopify earned a total revenue of $2,929.5 million, 86% higher than in 2019.
During the 2020 Black Friday to Cyber Monday (BFCM) shopping event, Shopify merchants generated over $5.1 billion in sales, marking a 76% increase from 2019’s BFCM sales of $2.9 billion.
On average, Shopify has 2.1 million active users daily. Well, that’s quite a significant number. Followed by 5.23 million online stores on Shopify.
As of today, Shopify has driven more than $444 billion in global economic activity. In the first half of 2024 alone, the platform reported a revenue of $3.86 billion.
A significant portion of Shopify’s user base, 57.65%, is from the United States. The platform serves over 700 million customers worldwide and powers 24% of all eCommerce websites.
What Percentage of eCommerce in the US is through Shopify?
Let’s take a look at statistics!
- Shopify is the US largest e-commerce platform, and 28% of US stores rely on Shopify.
- Currently, 2+ million merchants and 4.6 million live websites are active on Shopify.
- Shopify has the maximum market share in these three countries: the US, the UK, and Australia. The US has 2.8 million Shopify stores, the UK has 203835 stores, and Australia has 149342 Shopify stores.
Shopify has captured 25% of the world’s top global eCommerce brands, and over 90% of Shopify merchants choose Shopify Payments to manage transactions. Since its inception in 2006, Shopify has processed over $886 billion in sales, with 561 million unique shoppers purchasing from Shopify stores in 2022 alone. The estimated average order value on Shopify is $85.
In 2006, Shopify was launched, and in 2007, it rolled out a secure shopping cart system.
In 2013, Shopify launched Shopify Payments, which gave their registered business dealers in the US and Canada a robust and easy-to-use Credit card processing system.
In 2017, Shopify announced its partnership with Amazon. It gave them a more comprehensive audience coverage and better sales prospects.
In 2023, Shopify launched its new Partner Directory, offering merchants access to a curated network of over 780 approved agencies and freelancers, known as “Shopify Experts,” to help them grow their businesses.
Conclusion
The online market is rising up and up. This is the right time to enter the online business world, and it can be done successfully with technical knowledge and proper guidance. Platforms like Shopify simplify the task only if you know how to utilize its potential for your product and brand.
We know it’s technical, time-consuming, and tedious, and to smoothen your experience and journey into the eCommerce sector, you must do a simple thing. Comment and a team of Shopify experts developers from Softpulse Infotech will contact you with the best strategy that fits your budget.
Softpulse Infotech has helped 100+ businesses enter the world of eCommerce with a strong foot forward, now it’s your turn to join the league.
