Shopify’s Gross Merchandise Volume (2016 – 2021)

Exclusive Data

You need the Pro Plan for unlimited access.

Pro Plan

$49 per month*

60% discount ends in:

00
Days
00
Hours
00
Mins.
00
Seconds

.

Download

About

This statistic highlights Shopify’s Gross Merchandise Volume, reported on a quarterly basis from Q1 2016 onwards.
Subscribe to Pro or Enterprise plans to unlock this feature.
More information
Subscribe to Pro or Enterprise plans to unlock this feature.
Contact the Analyst
Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on reddit
Share on facebook
Share on twitter
Share on linkedin
Share on email

Become a smarter investor today.

Access Business Quant for as low as $19/month

Become a smarter investor today.

Access KPIs & Segment Financials on US stocks

This statistic highlights Shopify’s Gross Merchandise Volume, reported on a quarterly basis from Q1 2016 onwards.

Shopify’s Gross Merchandise Volume

Period Q3 2020 Q2 2021 Q3 2021
GMV – Gross Merchandise Volume $30.9 $42.2 $41.8

(All figures are in billions)

Gross Merchandise Volume

Gross Merchandise Volume (“GMV”) is a key performance indicator that is used to assess a company’s performance, discover patterns that impact it, develop financial estimates, and make strategic choices.

GMV is the entire dollar value of orders processed through the platform in the quarter, including some applications and channels for whom a revenue-sharing agreement is in place This amount is reflected net of refunds while including duty, value-added taxes shipping and handling. The gross merchandise value (GMV) does not indicate the company’s revenue. The volume of GMV enabled by the platform, on the other hand, is a sign of merchant success and platform strength.

Observation

Beginning in March 2020, the firm saw continued robust growth in GMV, boosted by COVID-19 limitations, as consumers sought out methods to buy from a safe distance, employing eCommerce and taking advantage of options like curbside pickup and local delivery. During the fiscal year ending December 31, 2021, the pace continued, albeit at a slower momentum, as GMV grew compared to the previous fiscal year.

The corporation facilitated GMV of $175.4 billion and $119.6 billion for the years ending December 31, 2021 and 2020, respectively. It saw continuous rise in GMV in the year ending December 31, 2021, thanks to the tailwinds of the move to eCommerce, which was enhanced by COVID-19 in 2020.

Factors Affecting the GMV and Comparability of Results

Merchant Solutions: The amount of GMV enabled by the company’s platform is also inversely proportional to the company’s merchant services revenues. In the year ending December 31, 2021, compared to the same period in 2020, merchant solutions revenues climbed by 61.8%. This rise was due to sustained consumer trends following the COVID-induced eCommerce acceleration, an increase in the number of merchants utilizing our platform, an increase in currency conversion fees, improved pricing, and merchant adoption of Shopify Payments. These variables resulted in $31.9 billion more GMV being processed by Shopify Payments in 2021 compared to the same time in 2020, indicating a 59.2% increase year over year.

Seasonality: The degree of GMV that merchants facilitated through the platform is directionally connected with the company’s merchant solutions revenues. During the fourth quarter holiday season, merchants often handle more GMV. Consequently, their merchant solutions revenues in the fourth quarter are often higher than in prior quarters.

Transaction and loan losses: When comparing the year ended December 31, 2020 to the same period in 2019, transaction and loan losses increased by $26.7 million, or 106%, due to an increase of $18.8 million in losses related to Shopify Payments due to increased GMV processed through Shopify Payments, and a $7.9 million increase in losses related to Shopify Capital due to an expansion of the company’s programs as well as capital offerings.

Cost of Merchant Solutions: When compared to the same time in 2020, the cost of merchant solutions grew by 56.3% for the year ending December 31, 2021. Higher payment processing and interchange expenses as a result of increased GMV managed by Shopify Payments accounted for the majority of the increase.

Trend

Going forward, the company anticipates more normalized GMV growth against a more measured macro environment in comparison to 2021, but also that COVID-19-driven changes in merchant and consumer behavior in 2020 and 2021 will continue to expand the opportunities for entrepreneurship and digital commerce.

Revenues from merchant solutions are inversely proportional to merchants’ gross merchandise volume (GMV). The continuous influence of the COVID-19 pandemic, which has expedited the transition of shopping patterns to eCommerce, has resulted in a significant increase in merchant solutions revenue in recent quarters. The firm thinks that, as a consequence of the continuing expansion of merchant solutions offerings, their business will become more seasonal in the future, and that previous trends in the industry may not be a fair forecast of future performance.

About the company

Shopify is a leading provider of key internet infrastructure for commerce. The company boasts proven solutions to help you develop, establish, promote, and manage any size retail business. Shopify makes commerce easier for its users by delivering a platform and services that are built for reliability and ease of use. At the same time, it prioritizes providing a better shopping experience for customers worldwide. The company’s headquarters are located in Ottawa, Ontario.

Did you like Shopify’s Gross Merchandise Volume statistic?

Access more such KPI data points and segment financials on thousands of US stocks, with Business Quant.

You can get started here.

Read more

Access Segment financials and KPI data on US stocks

Our Plans

Always know what you’ll pay. No hidden costs or surprises.

  • Annual
  • Monthly

Basic

Get to know us

  • Access only basic data
  • This statistic is not included The statistic that you're currently viewing, is not included in the Basic plan. Please subscribe to the Pro plan to access this statistic.
$0
per month
Start for Free

60% discount until May 22

Pro

For serious investing

  • This statistic is included Instant access to all the data and features on the Business Quant platform. This also includes access to the statistic that you're currently viewing.
  • Granular KPI data Access segment financials, non-GAAP metrics and KPI data from presentations and filings. Examples include financials by segment / region / product category, AT&T's broadband subscriber trends, Tesla's deliveries by model and lots more.
  • Stock research tools Features include : Stock screener, Stock comparison, sector financials, stock warnings, advanced charting tools, financial statements dating back 10+ years, stock reports, SEC filings and stock ratings. There are 200+ financial items and ratios on thousands of US stocks.
  • Industry data & tools Access premium operating data on 40+ industries. Examples include market share, smartphone shipments by vendor, subscribers by wireless carrier, historical gold production. There are 20,000+ such statistics.
$49
$19
per month*
Buy Now

Enterprise

For tailored workflows

  • All of Pro plan Get unfettered access to all our dashboards and dossiers.
  • Custom built features Get tailored dashboards built specially for you , based on your set of requirements, to simplify your research workflow.
$99
per month, onwards*
Contact Us

* Billed annually, local taxes extra. 

Basic

Get to know us

  • Access only basic data
  • This statistic is not included The statistic that you're currently viewing, is not included in the Basic plan. Please subscribe to the Pro plan to access this statistic.
$0
per month
Start for Free

60% discount on Annual plan

Pro

For serious investing

  • This statistic is included Instant access to all the data and features on the Business Quant platform. This also includes access to the statistic that you're currently viewing.
  • Granular KPI data Access segment financials, non-GAAP metrics and KPI data from presentations and filings. Examples include financials by segment / region / product category, AT&T's broadband subscriber trends, Tesla's deliveries by model and lots more.
  • Stock research tools Features include : Stock screener, Stock comparison, sector financials, stock warnings, advanced charting tools, financial statements dating back 10+ years, stock reports, SEC filings and stock ratings. There are 200+ financial items and ratios on thousands of US stocks.
  • Industry data & tools Access premium operating data on 40+ industries. Examples include market share, smartphone shipments by vendor, subscribers by wireless carrier, historical gold production. There are 20,000+ such statistics.
$49
per month*
Buy Now

Enterprise

For tailored workflows

  • All of Pro plan Get unfettered access to all our features.
  • Custom built features Get tailored dashboards built specially for you , based on your set of requirements, to simplify your research workflow.
$99
per month, onwards*
Contact Us

* Local taxes extra. 

BQ Star Yellow 60%

Get Pro for 60% off

  • Access all features immediately
  • Datasets updated every day
  • Export data in CSV and XLSX formats

Offer Ends In

Starting from $49 $19 / month

.