Shopify Benchmarks & Global Entrepreneurship Index Show Power Of Data Sharing

Liz Morton
Liz Morton


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Shopify is leveraging its massive amount of data to provide granular insights for merchants and bigger picture ecommerce industry data to the masses with Benchmarks and Global Entrepreneurship Index.

First, Shopify Benchmarks allows merchants on the platform to compare key metrics like conversion rates, average order value, retention rate, and fulfillment times with similar stores.

Compare Data to Stores Like Yours With Benchmarks
Understanding and analyzing data and key metrics for your online store can be challenging, especially when there are no industry standards or comparative data available. If your store’s conversion rate is 4%, is that good? How does it compare to other stores in the same industry? Find it with Shopif…

Benchmarks are industry-specific metrics that establish a performance standard for businesses. They provide insights into your online store's performance, allowing you to make informed decisions about where to focus your efforts and resources.

With millions of merchants on our platform, Shopify has the unique ability to match merchants not against industry standards but to surface benchmark data against similar merchants. Comparing performance against stores similar to yours, gives merchants a highly competitive and achievable advantage.

Benchmarks in Shopify are based on cohorts of stores that are similar to yours. These cohorts are defined by looking at the order volume, primary market, and product categories sold over the past 30 days. If there aren't enough similar stores like yours on Shopify, Benchmarks data may not be available for your store...

What KPIs are Benchmarks available for?
In this first iteration, Benchmarks data is available for the following metrics in Shopify: online store conversion; average order value; retention rate; and time to fulfill, ship, and deliver. You can access these metrics using the relevant reports in Shopify.

Online store conversion
Online store conversion is the percentage of website visitors who make a purchase. View the Online store conversion over time report in Shopify to find out how your store’s conversion rate is doing compared to other similar stores in the industry over a period of time.

Average order value
Compare the average value of an order placed on your store against similar stores using the Average order value over time report.

Retention rate
Retention rate is the percentage of customers who return to your website to make another purchase. Dig into your Customer Cohort Analysis report to view the retention rate for your store and compare against similar stores.

Time to fulfill, ship, and deliver
Time to fulfill is the average time it takes for you to start processing an order after it's placed. Time to ship is the average time it takes for an order to be shipped after it's been processed. Time to deliver is the average time it takes for an order to be delivered after it's been shipped.

The Fulfillment, shipping, and delivery times report in Shopify gives you a clear view of these metrics along with Benchmarks data to analyze your performance in fulfillment, shipping and delivery.

But Shopify is taking it even further with a beta release of their first ever Global Entrepreneurship Index.

Shopify Beta Launches World’s First Global Entrepreneurship Index
U.S., Lithuania, & Romania Rank Top 3; Delaware #1 U.S. State

Today, we’re beta launching the Shopify Entrepreneurship Index: the world’s first home for data and insights on global entrepreneurship across 40 countries and all U.S. states.

Shopify powers millions of businesses globally, providing the data and network needed to build something that did not previously exist: a comprehensive dataset on entrepreneurship around the world.

The Shopify Entrepreneurship Index measures the economic impact of entrepreneurs in Shopify’s ecosystem on national economies, tracking the fastest growth and greatest contributions. Today’s launch is the beta version of this Index—we’re just getting started. In the future, we’ll add even more data aimed to inspire smart policies and give leaders the insights they need to harness the power of entrepreneurship. We’ll continue to update this Index quarterly.

In 2022, Shopify entrepreneurs:
Supported 5.2 million jobs (+8.3% from 2021)
Generated $27.7 billion of exports (+7%)
Contributed $229.3 billion to GDP (+8.8%)
Created $490.5 billion in economic activity (+8.6%)

Leading the Index was the U.S., which saw an 11% increase in total jobs supported* since 2021. Delaware was the top-ranked state, Wyoming came in second, and California ranked number three.

Countries in Eastern Europe earned second and third place globally. Lithuania’s #2 position is a testament to the country’s investment in financial literacy, entrepreneurship, and new technologies that keep its businesses competitive globally. In third place, Romania saw a huge rise in ecommerce following an increasing digital transformation of the country.

Japan emerged as Asia’s entrepreneurship engine, earning 10th place on the Index. Much of Japan’s growth comes from its government’s focus on cross-border trade and improving the funding environment for small businesses.

To calculate the Entrepreneurship Index, Shopify worked with Deloitte to calculate the GDP impact, business activity impact, jobs supported, and exports generated by millions of entrepreneurs in the Shopify ecosystem over the last year.

They compared that impact to national values for each country and state, using public data from the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), the International Labour Organization (ILO), and government statistical agencies.

Access the full report:

The Shopify Entrepreneurship Index
Explore our new rankings to see how entrepreneurship is powering economic growth around the world.
ShopifyTools

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Liz Morton is a 17 year ecommerce pro turned indie investigative journalist providing ad-free deep dives on eBay, Amazon, Etsy & more, championing sellers & advocating for corporate accountability.


Recent Comments
Avatar Placeholderbritishsoeedw-03 hours ago
I'm having the same problem, Vat has ben added to my listings and sales have literally stopped.
Avatar Placeholderblazeaglory9 hours ago
I've been selling on ebay since 2003 but i had to get a new account because after having a perfect feedback with ZERO negative feedback, i had one sale go south where the item i had i simply couldn't find in my inventory! So i ended up Ebay roughly 250$. You'd think they'd call me or message me and work out a plan but no, immediately PAY NOW PAY NOW OR YOUR ACCOUNT GETS CLOSED! I sell hand to mouth and usually each sale gets spent on bills QUICK, so i told Ebay i could pay monthly or weekly and pay the balance off in a month or sooner. Anyways, they closed my perfect TRS account. I mean no sympathy or anything after roughly 20 something odd years...SO now my new account after not selling for several months has only a couple sales. I dunno if things have changed but traffic seems waaaaay down but with this last sale, a nice vintage DAVID YURMAN silver bracelet, i had to ship to an authenticator, which I've never had to do. Hey I'm all for it because on ebay the last 20 years, the silver jewelery market has been HIGH RISK fakes labeled .925 yet NOT! LOL So I'm ok with an authenticator program that actually WORKS! So now the bracelet has been in Carlsbad since Monday May 19th 2025. I'm hoping it gets verified by tomorrow. I'll keep you all posted
Avatar Placeholderfoxxresell16 hours ago
An update to this situation - Today I will return to Above Average but this last month cost me a 91.8% reduction in impressions, 53.8% drop in listing page views, and 78% drop in revenue as well as paying an additional 6% final value fee on the sales I made. I was fortunate I had some higher value items sell this last week or my revenue numbers would have been well into the 80%.

eBay has responded to my BBB complaint twice. The first time they told me that I deserved below standard because my shipping scans were below the threshold. However, I had to quote their own website to them saying that shipping numbers cannot lead to downgrade to Below Standard.

The second response they just said I would be restored on May 20th completely ignoring the issue at hand, admitting an issue existed, or offering any type of solution.

If this concerns you, this happened to you, or worried it may happen, please take action. In fact, take action anytime eBay is doing somethning wrong. They will change nothing if you don't say anything. If enough people speak up, they do make changes.