Spotlight

Shopify 2022

How the Leading Digital Commerce Platform Connects Brands to Consumers

Report by Sky Canaves  | Jul 6, 2022
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Table of Contents
Executive Summary
Shopify’s Pandemic Rise and Its Challenge to Amazon
Key Trends Driving Shopify’s Growth
Facing the Rising Headwinds for Ecommerce
How Shopify Aims to Stay Ahead
Key Takeaways: How Brands Can Make the Most of Shopify in an Era of Uncertainty
Read Next
Sources
Media Gallery
About This Report
Shopify offered a lifeline for merchants during the pandemic. Now, as the ecommerce environment grows more challenging, the company is devising new strategies to help brands expand their reach.
Topics
Digital Payments
Retail Ecommerce Sales
US
Table of Contents
Executive Summary
Shopify’s Pandemic Rise and Its Challenge to Amazon
Key Trends Driving Shopify’s Growth
Facing the Rising Headwinds for Ecommerce
How Shopify Aims to Stay Ahead
Key Takeaways: How Brands Can Make the Most of Shopify in an Era of Uncertainty
Read Next
Sources
Media Gallery

Executive Summary

Since the start of the pandemic, Shopify has emerged as a leading ecommerce platform for merchants large and small. Its growth will continue to outpace that of competitors, despite rising headwinds that pose a challenge to online retail.

This report includes our forecast for Shopify’s gross merchandise value (GMV) and gross payment volume (GPV), and an analysis of how Shopify stacks up against rival digital commerce platforms and Amazon.

Key Question: Shopify leapfrogged the competition and gave merchants a lifeline at the height of the pandemic, but can its momentum be maintained in the era of uncertainty?

Shopify and US Digital Commerce Platform Retail Ecommerce Gross Merchandise Value (GMV), 2020-2024 (billions and Shopify % of total digital commerce platform retail ecommerce GMV)
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KEY STAT: In 2024, Shopify’s US GMV will rise to $146.92 billion and represent nearly a quarter of the total US GMV on digital commerce platforms, per our forecast.

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Table of Contents

  1. Executive Summary
  2. Shopify’s Pandemic Rise and Its Challenge to Amazon
  3. Key Trends Driving Shopify’s Growth
  1. Facing the Rising Headwinds for Ecommerce
  2. How Shopify Aims to Stay Ahead
  3. Key Takeaways: How Brands Can Make the Most of Shopify in an Era of Uncertainty
  1. Read Next
  2. Sources
  3. Media Gallery

Charts in This Report

Shopify and US Digital Commerce Platform Retail Ecommerce Gross Merchandise Value (GMV), 2020-2024 (billions and Shopify % of total digital commerce platform retail ecommerce GMV)US Shopify Retail Ecommerce Gross Merchandise Value (GMV), 2020-2024 (billions, % change, and % of retail ecommerce sales)
US Shopify Enterprise Merchants Growth and Penetration, 2020-2024 (thousands, % change, and % of total merchants)US Shopify and Digital Commerce Platform Gross Payment Volume, 2020-2024 (billions and % change)
Leading Ecommerce Platforms Used by US Direct-to-Consumer (D2C) Brands, Oct 2021 (% of total)

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authors

Sky Canaves

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Blake Droesch
Analyst
Brian Lau
Digital Apprentice
Amy Rotondo
Director, US Research