Shopify is a platform for businesses of all sizes to create an online store. It offers users a customizable platform, an easy-to-use checkout process, and a wide range of features.
Since its launch in 2004, Shopify has helped businesses around the world grow and scale. In 2019, Shopify powers over 1.9 million businesses in 175 countries and is trusted by brands such as Tesla, Red Bull, Nestle, and General Electric.
Despite its impressive track record, some business owners are still hesitant to use Shopify because they’re not sure about its success rate. So, what is the success rate on Shopify?
There’s no simple answer to this question because success depends on a number of factors, including the type of business you have, your marketing strategy, and the products you sell. However, we can take a look at some data to get a better idea of how successful businesses are on Shopify.
According to data from Shopify’s platform, over 80% of businesses that use Shopify are profitable. This means that out of every 100 businesses that use Shopify, 80 make money and 20 don’t.
Of course, these numbers don’t take into account the businesses that don’t make enough money to cover their costs or those that haven’t been in business long enough to turn a profit. However, they do give us a good idea of the overall success rate on Shopify.
In addition to looking at profitability, we can also look at sales data to get an idea of how successful businesses are on Shopify. According to data from Slice Intelligence, the average order value for Shopify stores is $80. This means that on average, each order placed on a Shopify store is worth $80.
To put this into perspective, let’s say a business has 100 orders per month and their average order value is $80. This would give them monthly sales of $8,000 ($80 x 100 orders). If we assume that their costs are $4,000 per month, this would give them a profit of $4,000 ($8,000 in sales – $4,000 in costs).
While this is just one example and doesn’t take into account all the different factors that can affect a business’s bottom line, it does show that it’s possible to be successful on Shopify. There are plenty of businesses doing very well on the platform despite the competition.
So what does this all mean for you? If you’re thinking about starting a business or selling products online, then Shopify is definitely worth considering. It’s a platform with a high success rate that can help you grow your business and reach your goals.
