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Average Shopify Store Revenue

Average Shopify Store Revenue Per Month

We define here the updated average Shopify store revenue calculated April 2023.

It’s no secret that selling on Shopify can be a lucrative endeavor. But, how much money can you really make in Shopify? According to Shopify’s figures, the average Shopify store revenue per month is around $3,897. This puts them in a league of top-performing stores, who usually earn $226 revenue per customer.

See also our technical analysis of this platform in our comprehensive Shopify review and why we should choose Shopify for the majority of business cases.

However, it’s important to keep in mind that this figure isn’t necessarily something most merchants will achieve immediately. The realistic average income from selling on Shopify is between $1,000 and $1,500 per month. Yet with the right strategy and some hard work, you could be one of those earning over five-figures monthly.

So if you’re willing to put in the effort and are willing to learn as you go along, you could make a solid living from starting up a business on Shopify.

Calculation Of The Average Shopify Store Revenue

Calculating the gross and net revenue of a Shopify store requires information beyond just traffic, products, and prices. However, assuming you have all the necessary data, here are the steps to calculate their gross and net revenue:

  1. Calculate the store’s total revenue: To calculate the store’s total revenue, you need to multiply the number of units sold by the price of each unit. For example, if the store sells 100 units of a product at $50 each, their total revenue would be $5,000.
  2. Calculate the store’s cost of goods sold (COGS): The cost of goods sold is the total cost of producing or purchasing the products that were sold during the period. To calculate COGS, you need to know the cost of the raw materials used to produce the products, any labor costs associated with producing the products, and any costs associated with shipping the products to the store. For example, if the store’s COGS for the 100 units sold was $2,500, their gross profit would be $2,500 ($5,000 – $2,500).
  3. Calculate the store’s expenses: In addition to COGS, the store has other expenses that need to be accounted for, such as marketing expenses, website maintenance fees, employee salaries, rent, and utilities. For example, if the store’s total expenses were $1,500, their net profit would be $1,000 ($2,500 – $1,500).
  4. Calculate the store’s net profit margin: The net profit margin is the percentage of the store’s total revenue that is left over after all expenses have been deducted. To calculate the net profit margin, divide the net profit by the total revenue and multiply by 100. For example, if the store’s total revenue was $5,000 and their net profit was $1,000, their net profit margin would be 20% ($1,000 / $5,000 x 100).

It’s important to note that these calculations are simplified and do not take into account various factors such as taxes, returns, and refunds, which can all impact a store’s revenue and profit. Additionally, COGS and expenses can vary depending on the accounting method used, such as first-in, first-out (FIFO) or last-in, first-out (LIFO).

Top Shopify Stores By Revenue

If you’re wondering what kind of earnings potential a Shopify store can have, the answer to that is — potential. The success of any venture is dependent on the entrepreneurs behind it, but according to Shopify data, shop owners have been succeeding.

Shopify reports that 90% of merchants are profitable after 24 months and the yearly average revenue is $162,336 for a Shopify site. That figure doesn’t include the thousands or millions of unique visitors that view stories, watch videos and buy products every month.

The average revenue per customer in a Shopify store for 2020 was $72, as well. The stores that performed best? Luxury fashion brands such as Louis Vuitton and Balmain took home top honors with their well-executed websites delivering service and products that customers expect from those high-end players.

Shopify Store Revenue Checker

Do you want to see how much money the average Shopify store is making? The answer may surprise you.

According to industry stats, the average revenue per Shopify customer in 2020 was $72. The average profit margin for Shopify stores was also quite impressive, at 23%.

By October of 2021, the revenue of 2,025 stores had risen to an even more impressive $72,000 – with larger stores making almost twice as much as that.

Fortunately, there are websites and pages that allow you to check the revenue of any given Shopify site. By using these tools, you can check out other store’s progress and get a better sense of what it takes to succeed on Shopify.

Commerce Inspector

Commerce Inspector is a software tool that allows users to track and monitor Shopify stores. It provides various features, such as tracking the best-selling products, analyzing the sales trends, monitoring the pricing strategies, and identifying the top-performing stores. The tool also enables users to receive notifications when a store changes its design, adds new products, or launches a new marketing campaign. Commerce Inspector can be a useful tool for anyone looking to monitor their competitors or gain insights into the e-commerce market.

Some of its features include:

  1. Store Analysis: Commerce Inspector can analyze a Shopify store and provide information on its best-selling products, traffic sources, and social media engagement. It can also show you the apps that the store is using and the themes that it’s using.
  2. Ad Intelligence: Commerce Inspector can help you identify the ad campaigns that a Shopify store is running on Facebook, Google, and other platforms. You can see the ad copy, images, and targeting information for each campaign.
  3. Email Marketing: Commerce Inspector can also help you track the email marketing campaigns that a Shopify store is running. You can see the email copy, subject lines, and links that the store is using in its emails.
  4. Top Stores: Commerce Inspector maintains a database of the top Shopify stores based on their traffic, revenue, and other factors. You can use this information to identify successful stores in your niche and learn from their strategies.

Koala Inspector

Koala Inspector is another tool that allows you to spy on other Shopify stores and see their data such as revenue, traffic, and other metrics. Koala Inspector offers similar features as Commerce Inspector, including the ability to track top-selling products, monitor inventory levels, and receive alerts for any changes to a store’s performance. However, Koala Inspector also provides additional features like Facebook ad tracking and competitor analysis.

Koala Inspector is a Shopify app that allows users to analyze any Shopify store’s data and gain insights into their marketing strategies, sales performance, and more. The tool provides a comprehensive dashboard that includes data on the store’s traffic, top-selling products, average order value, and more.

With Koala Inspector, users can track the store’s daily sales and monitor changes in sales trends over time. The tool also provides data on the store’s traffic sources, including referral sites and search engines. Users can also see which products are driving the most sales, which can help them identify popular trends and make informed product decisions.

In addition to these features, Koala Inspector also provides data on the store’s social media presence and can help users identify which social media channels are driving the most traffic and sales. The tool also includes a “competitor analysis” feature that allows users to compare their store’s performance to that of their competitors.

Commerce Inspector vs Koala

FeaturesKoalaCommerce Inspector
PricingStarts at $25/monthStarts at $29/month
Competitor analysisYes, with data on ads, products and top-performing pagesYes, with data on ads, products and top-performing pages
Traffic analysisYes, with data on visitors, top locations and sources of trafficYes, with data on visitors, top locations and sources of traffic
Social media analysisYes, with data on social media engagement and audience demographicsYes, with data on social media engagement and audience demographics
Customer insightsYes, with data on customer behavior and purchase patternsYes, with data on customer behavior and purchase patterns
Product researchYes, with data on product trends, pricing, and reviewsYes, with data on product trends, pricing, and reviews
IntegrationsIntegrates with Shopify, AliExpress, and AmazonIntegrates with Shopify and WooCommerce
User InterfaceUser-friendly and easy to navigateUser-friendly and easy to navigate
Customer SupportOffers email supportOffers email and chat support

Commerce Inspector Alternatives

There are several software tools available that can help you estimate the revenue of a Shopify store. Some of these tools include:

  1. SimilarWeb: This is a web analytics tool that provides data on website traffic and engagement, including estimated revenue, for any website including Shopify stores.
  2. BuiltWith: This is a tool that provides information about the technologies used by a website, including Shopify stores, and can also estimate revenue based on traffic and other factors.
  3. SpyFu: This is a keyword research tool that also offers competitive analysis and estimated revenue for websites, including Shopify stores.
  4. Ahrefs: This is a popular SEO tool that also provides data on website traffic and estimated revenue for websites, including Shopify stores.

Shopify Store Revenue Checker Without An App

If you know that 3% of visitors buy and the revenue is 10% of the price, you can use the following steps to calculate the gross and net revenue of the Shopify store:

  1. Determine the number of visitors to the store: Let’s say the store receives 10,000 visitors.
  2. Calculate the number of buyers: 3% of 10,000 visitors would be 300 buyers.
  3. Determine the average price of products: Let’s say the average price of the products sold on the store is $50.
  4. Calculate the total revenue: 300 buyers x $50 average price = $15,000 total revenue.
  5. Calculate gross revenue: Gross revenue is the total revenue before any deductions, such as refunds or returns. In this case, the gross revenue would be $15,000.
  6. Calculate net revenue: Net revenue is the amount of revenue left after deducting expenses such as cost of goods sold, shipping, and transaction fees. If we assume a 30% cost of goods sold (COGS) and a 3% transaction fee, the net revenue would be:

Total revenue – (COGS + Transaction fees) $15,000 – ($4,500 + $450) = $10,050 net revenue

So, based on the given hypothesis, this Shopify store would have a gross revenue of $15,000 and a net revenue of $10,050.

Assuming that the net revenue is 10% of the total price, we can calculate the net revenue as follows:

Net revenue = Gross revenue x Net profit margin Net revenue = $3,000 x 0.10 Net revenue = $300

Therefore, the estimated net revenue for this Shopify store would be $300.

It’s important to note that this is just a rough estimate based on the given assumptions. The actual revenue and net profit margin may vary based on several factors such as product pricing, customer behavior, and operating expenses. Additionally, there may be other factors that impact the revenue such as the cost of goods sold (COGS), shipping fees, transaction fees, and taxes. Therefore, it’s always advisable to use multiple data points and perform a detailed analysis before arriving at a conclusion.

here’s an example table based on the information and calculations provided:

Conversion rate3% (given)0.03
PurchasesVisitors x conversion rate300
Average order value$100 (given)$100
RevenuePurchases x average order value$30,000
Gross profit margin10% (given)0.10
Cost of goods soldRevenue x (1 – gross profit margin)$27,000
Net revenueRevenue x net profit margin (10%)$2,700

Shopify Stores Revenue: Comparison With Shopify Alternatives

You’ve probably heard how Shopify has made waves in the digital commerce space, generating over $650 billion in sales during its 17 years of operation. But have you ever wondered how your Shopify store’s revenue compares to the average store on their platform?

According to recent data, the average total revenue earned per customer on Shopify is approximately $90. While there are always outliers, this number gives you an idea of where you stand with your store.

If your store earns $226 per customer, for example, then you can feel proud – because that puts you in the top 10% of all Shopify stores. On the other hand, if you’re closer to the average or below it – don’t worry! With continual optimization and experimentation, your revenue numbers can reach that same impressive level.

It’s also worth noting what makes Shopify an attractive option compared to other eCommerce platforms, such as WooCommerce or BigCommerce. The main difference lies in scalability and customization potential: Shopify enables merchants to access more resources and tailor their stores better than its competitors. Furthermore, Shopify handles more transaction volumes due to its extensive set of features – meaning more potential revenue for merchants who invest correctly.

Shopify App Store Revenue

The Shopify App Store is a great way for entrepreneurs to develop their skills and maximize the potential of their stores. In 2020, the average Shopify customer generated $72 in revenue. For the top 25% of Shopify partners, the average annual earnings are an impressive $272K.

In 2021, the average income or revenue of Shopify stores was estimated to be around $67k, a significant increase from 2020. This figure can be greatly impacted by the apps and services included in a store portfolio.

For example, apps like Oberlo allow you to better manage your inventory and provide you with automated insights on where to focus your efforts for maximum profitability. Other services such as Printful provide users with additional products and customization capabilities to expand the range of their store offerings.

By leveraging these tools correctly, entrepreneurs can take full advantage of their store’s potential and increase its overall revenue figures.

Average Shopify Dropshipping Income

Are you considering starting a Shopify store? Knowing the average earnings could help you decide how much effort and money you are willing to commit. Dropshipping is one of the most popular ecommerce models, allowing merchants to build storefronts without investing in inventory or warehousing.

On average, a Shopify store can make around $3,897 per month. For dropshippers, this translates to approximately $100-$200 per day. That adds up to an annual revenue of around $72,000 with a profit margin of approximately 23%. So if you are looking to make some extra income, running your own Shopify store can be a great way to do it.

These figures may vary depending on the individual store setup and product selection, but they give potential entrepreneurs an idea of what they could expect from their investment. With dedication and persistence, dropshippers can put themselves in a great position for success!

How Much Can You Make On Shopify

You may be wondering how much you can realistically make with a Shopify store. According to data, the average Shopify store makes about $2,000 per month while the average Shopify store owner makes about $3,897 per month. However, it is important to note that these numbers are generalizations and do not reflect the full potential of a successful Shopify store.

In reality, a successful Shopify store can make anywhere between $1,000 to $1.5K per month depending on the quality of content and products being offered as well as various other factors such as marketing efforts and customer traffic. To maximize profits, it is important to keep track of analytics data and focus on improving conversions rates as well as customer satisfaction scores.

How Many Shopify Stores Are There

Today, Shopify stores are booming in both small and large cities, with over 3.75 million live stores worldwide. And the good news is that customers are spending more than ever. According to recent reports, Shopify generated over $650 billion in sales across its 17 years of operation, putting it at the forefront of e-commerce platforms.

What does this mean for prospective shop owners? It suggests that if you have a product to sell, now is a great time to enter the market. With average revenue per customer expected to top $88 in 2022, any store generating this much revenue would be in the top 10%, making it one of the best performing stores online – an ambition you can achieve with your very own Shopify store.

As of 2021, Shopify reported having over 1.7 million merchants in more than 175 countries around the world. However, this number is constantly changing as new merchants sign up and others close their stores.

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