Now Powering Over 1 Million Merchants, Shopify Deb

Now Powering Over 1 Million Merchants, Shopify Debuts Global Economic Impact Report

Posted on October 30th 2019

Shopify merchants contributed $183 billion in global economic activity from 2016-2018

OTTAWA, Ontario–(BUSINESS WIRE)–Shopify Inc. (NYSE:SHOP) (TSX:SHOP), the leading global commerce company, today released its first global economic impact report showcasing the growth of businesses built on Shopify and how they benefit the world economy. Shopify is powering a global economic movement, that’s now a million merchants strong and growing. This new report reveals data and insights on how the success of independent business owners is critical to economic prosperity, Shopify’s efforts to remove barriers and democratize commerce, and how commerce can be a force for global good.



“With over one million businesses now built on Shopify, together we’re rewriting the rules for our modern economy,” said Tobi Lütke, CEO of Shopify. “Increasing the collective impact of these businesses is critical. That’s why Shopify provides ambitious entrepreneurs with powerful tools to be successful and connect directly with customers. Other platforms have restricted these opportunities, so we’re arming the rebels of the commerce industry. This report highlights what Shopify has always known: the world economy is better with more voices, not fewer.”

Shopify puts commerce technology in the hands of entrepreneurs and enables capitalism for good, allowing buyers to vote with their dollars and support independent business owners who dare to strike out on their own. With Shopify’s offerings, anyone, anywhere can start a business and impact everyone. The global economic impact report details the incredible growth of Shopify, driven by its focus on these key principles: The importance of democratizing technology; individuals can change the world, from anywhere in the world; entrepreneurship elevates communities; and the future is borderless commerce.

Key findings from the report include:

● Businesses built on Shopify supported $183 billion in global economic activity from 2016-2018.

● Businesses using Shopify delivered more than $100 million in economic activity in 40+ countries, and more than $1 billion in 12 countries from 2016-2018.

● In 2018, Shopify’s merchants’ online sales growth was 59%, more than double the growth of the global ecommerce market.

● Last year, businesses on Shopify supported over 1.4 million full time jobs around the world.

● In 2018, Shopify’s revenue surpassed $1 billion, while our partner ecosystem generated nearly $1.7 billion.

● Businesses from emerging countries using Shopify are boosting their local economies, generating $3+ billion in revenue and 93% of their sales internationally were to advanced economies, well above the global average of 65% from 2016-2018.

● The exports of businesses using Shopify are growing 7X the global average: our merchants’ exports grew 76% compared to the global average rate of nearly 10% from 2016-2018.

Download a summary of Shopify’s global economic impact report here.

About Shopify

Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, Staples, and many more. For more information, visit www.shopify.com.

This report looks at data from our global merchant base, as well as relevant third-party data collected by Deloitte Canada.

All currency in USD.


Contacts

Julie Nicholson
Director of Communications
416-238-6705 x 302
press@shopify.com

Contact Us

    Matias Marquez Interview

    January 25,2019

    Matias Marquez founded Buyatab in 2008. He has since received numerous awards and recognition for his entrepreneurial success, including: being named a BC Business Top 30 Under 30 recipient in 2016; winner of the 2016 EY Entrepreneur of The Year

    Read More...

    Braden Parker Interview

    January 15,2019

    Braden Parker is co-founder of Casca Footwear, an innovative startup, developing all-day performance shoes for future builders. In the past year, Braden has moved from real-estate asset manager to co-founder of a bootstrapped venture looking to challenge the global footwear

    Read More... Braden Parker is co-founder of Casca Footwear, an innovative startup, developing all-day performance shoes for future builders. In the past year, Braden has moved from real-estate asset manager to co-founder of a bootstrapped venture looking to challenge the global footwear giants

    Ilya Brotzky Interview

    June 9,2018

    Ilya is the CEO and founder of VanHack. After graduating from Cornell University with a Degree in Applied Economics and Management, Ilya spent 4 years working in the Brazilian startup scene where he joined the country’s most successful early stage

    Read More...

    Praveen Varshney Interview

    December 26,2016

    Praveen Varshney has been a principal of Varshney Capital Corp., a Vancouver based merchant banking, venture capital and corporate advisory services firm, since 1991. He is a director or officer of various publicly traded companies including Mogo and Hempco Food

    Read More...

    Arran Stephens Interview

    December 26,2016

    Arran Stephens was born in 1944 and was raised on Vancouver Island. His parents pioneered sustainable farming in the 1950’s and advised Arran to “leave the earth better than you found it.” After pursuing art and having several successful exhibitions

    Read More...

    Terry McBride Interview

    December 11,2016

    Today we are with Terry McBride who is the current CEO of YYoga and one of the three founding members of the Nettwerk Music Group, which includes Nettwerk Productions (independent record label), Nettwerk Management (artist and producer management), Nettwerk One

    Read More...