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Friday, 29 April 2022 14:38

Australian Shopify merchants contribute $40b in economic activity in 2021 Featured

By Staff Writer

Internet infrastructure for commerce provider Shopify has announced that its Australian merchants contributed $39.4 billion in economic activity in 2021, a 50.1% increase in economic activity from $26.3b in 2020. 

Shopify’s announcement comes in the release of the findings from its annual Economic Impact Report (EIR), exploring the positive change made to the global and Australian economy, and quantifying Shopify’s economic footprint in 2021.

According to Shopify, every dollar spent 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.

“Shopify has seen firsthand examples of entrepreneurs innovating industries, creating job opportunities in their local community, growing suppliers, and making the planet a better place to live. This is called the Shopify Effect—which is measured by partnering with Deloitte, a third-party auditor, to get a better picture of its aggregate impact,” notes Shopify.

“In 2021, businesses continued to pivot and with the Great Resignation in full force, the entrepreneurial awakening drew many to start up their own ideas. The proof is in the numbers, but it's not only about economics; it's about the people and entrepreneurs behind them. 

“Shopify merchants in Australia supported 154,200 jobs and generated $29.6 billion in economic activity in 2021, demonstrating their resilience and adaptability amid the ongoing transformation of modern retail.”

“We couldn’t be more proud to support Australian businesses with everything they need to build exciting D2C brands and products for customers all over the world.” Shaun Broughton, APAC Managing Director, Shopify.

Here are some of the key findings from the Shopify 2021 report - and Australia specific highlights:

  • Shopify merchants contributed $39.4 billion in economic activity, which is a 50.1% increase in economic activity from 2020 ($26.3B). 
  • If you were to distribute Australian economic activity generated by merchants on Shopify to every Australian, each person would get $1,530, and every working age Australian $2024
  • Merchants created 154,200+ jobs, a 48.4% increase in job impact from 2020 (98,200+). Shopify merchants employ 0.79% of all working age Australians.

Global:

  • Shopify merchants supported 5 million jobs last year. Collectively, Shopify merchants support the largest workforce in the world. 
  • Shopify merchants generated nearly US$444 billion (AU$625B) in global economic activity*, a 45% increase from 2020. Pooled together, that would form the world’s second-largest company in revenue, surpassing Amazon, Apple, BP, and Volkswagen.
  • Our merchants’ success remains paramount: for every $1 generated last year, our merchants made $38

International impact:

  • Shopify merchants sold US$25+ billion (AU$35B) worth of goods and services outside their home country in 2021. Small businesses generated US$11 billion (AU$14.8B) of those sales—that’s as much as the top 6 highest grossing superhero films combined.
  • European merchants exported US$4 billion (AU$5.4B) worth of goods and services outside their continent, a 39% increase from 2020.
  • Merchants in developing nations generated US$6.5+ billion (AU$8.6B) in revenue in 2021, up from US$5.8 billion (AU$7.8B) in 2020, generating enough cross-border sales to make all four Avengers movies 18 times.

“Not only is it the merchants that create impact—there’s a whole ecosystem of Shopify Partners who contribute to the Shopify Effect, from developers building apps that solve problems for merchants to designers creating stores to help bring brands to life and more,” says Shopify.

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 (AU$43B) in revenue** last year.
  • Shopify Partners increased their earnings 45% from 2020, grossing nearly 7x Shopify’s 2021 revenue.

For more details and to read the 2021 Deloitte Economic Impact Report click here

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