Shopify Merchants Support World’s Largest Workforce, Contributing 5M Jobs and $444B+ in Economic Activity in 2021

Shopify Merchants Support World’s Largest Workforce, Contributing 5M Jobs and $444B+ in Economic Activity in 2021

At Shopify, we think the world is better with more independent businesses in it.

Every dollar you spend with an independent business has a ripple impact on the lives of the owners behind it, their local communities, families, employees, suppliers, and the world. We’ve seen firsthand examples of our merchants pushing their industries forward, creating job opportunities in their local community, bolstering their suppliers’ business, and making our planet a better place to live.

We call this the Shopify Effect, and we set out to measure it by partnering with Deloitte, a leading global consulting firm, to get a better picture of our merchants’ and partners’ aggregate impact.

Here are some other key findings from our 2021 report.

International impact:

  • Shopify merchants sold $25+ billion worth of goods and services outside their home country in 2021. Small businesses*** produced $11 billion of those sales—that’s as much as the top 6 highest-grossing superhero films combined.
  • European merchants exported $4 billion worth of goods and services outside their continent, a 39% increase from 2020.
  • Merchants in developing nations generated $6.5+ billion in revenue in 2021, up from $5.8 billion in 2020.

Partner ecosystem:

  • Shopify’s Partner ecosystem—which includes developers, designers, marketers, accountants, logistics providers, and other experts who help our merchants succeed—supported 656,000 jobs and totaled $32 billion in revenue** last year.
  • Our Partners increased their earnings 45% from 2020, grossing nearly 7x Shopify’s 2021 revenue—and we’re proud of their success.

Regional and country-specific highlights:

  • India: 199,600 jobs and $3.4 billion in economic activity. Shopify merchants in India supported enough jobs to fill the Taj Mahal 5 times, based on its current maximum capacity of 40,000 people.

“Shopify merchants in India are experiencing strong domestic and international growth as retail returns to pre-pandemic levels and Indian consumer confidence improves, generating a 78% increase in business activity and supporting nearly 200,000 jobs in 2021. This is giving rise to a wave of Indian companies – from small start ups run by young entrepreneurs building D2C brands to large traditional enterprises bringing their stores online.” said  Bharati Balakrishnan, Country Head and Director, Shopify India

About Neel Achary 18722 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.