Shopify keeps on outgrowing Amazon

The Canadian company, which claims to be the provider of the infrastructure for (e)commerce, continued to grow rapidly during the Q4/2021: +41% (on top of 93,5% growth a year ago). The whole year of 2021 grew by 57,4% (after 85,6% growth in 2020).

The growth is driven by the Merchant solutions segment, which provides services for the merchants once they have started to sell on Shopify. During 2021 Merchant solutions grew by +62% last year, whereas Subscription services (more indicative of the merchant base?) grew by +48%.

Impressive growth numbers from Shopify in all parts of the business.

With the rapid growth, Shopify merchants have also been able to grow their Gross Merchandise Value (GMV) significantly. After 46,7% growth, the GMV of Shopify stands at $175 billion.

Shopify GMV is already 45% of the Amazon Marketplace GMV.

Quite an achievement from a company that was only 25% of Amazon Marketplace GMV back in 2018.

Shopify has been able outgrow Amazon for the 16 quarters in a row. Shopify growth has been faster than both Amazon’s overall sales, but also the faster growing service sales. One has to take into account that the Amazon service sales are significantly bigger business than Shopify.