With a 10.9% market share, Shopify is the third biggest eCommerce software platform in the US. During COVID-19, Shopify stores and other eCommerce platforms witnessed record sales.
But given the fierce competition in Shopify right now, not every retailer who opens a store there will be successful enough to make money during the test time.
Others are giving up as fees rise and there is no possibility to gain sales intelligence while some people are generating a tonne of dollars selling on Shopify.
In this post, we’ll talk about the average Shopify store revenue (in a realistic sense) and provide some tips on how to increase your bottom line when running a Shopify-based business.
Are you ready to learn how to profit with Shopify? Read the article below then!
If you generate $226 in sales per customer, you’ll be in the top 10% of the platform’s performing stores, while anything less than $33 puts you in the worst 10%.
According to Shopify statistics, each customer generated an average of $72 in income for 2020. Following that, a realistic monthly average Shopify store income would be in the range of $1,000 and $1,500.
Yet, with a strong dropshipping plan, you may possibly increase that number up to $10,000 per month since dropshipping has lower overhead than selling your own inventory on the marketplace.
Without a doubt, Shopify is one of the largest eCommerce platforms on the globe where you can start an online business and earn money.
When you sell hundreds of items with thousands of orders every day, you will definitely need a tool to track sales performance as well as average Shopify store revenue daily, monthly and even annually.
Luckily, Shopify includes an analytics tracker integrated into its platform that enables you to produce data based on the performance of your store.
High-level measures like the overall number of store visits, revenue, repeat customers, and average value of orders are all part of this data.
You now can easily gather so many valuable data to determine average Shopify store revenue as well as plan your business expansion strategy.
Read more at: Is Shopify Fraud Protect right for your business?
Keep in mind, though, the numbers we mentioned above are simply averages. The following factors will ultimately influence how much average Shopify store revenue you can make on Shopify:
With that in mind, here are some main tips we would like to share with you to help you boost your average Shopify store revenue:
Well, there are countless strategies, right? We believe you can be the leading one who comes up with many other new tips for yourself and other Shopify sellers.
One of them, the application of integration with 3rd party technology is gradually widespread. Synctrack is one of the leading solutions to improve efficiency in running online businesses on Shopify as well as improving customer care.
For any extra info on Synctrack, get in touch with us right now!
It’s time to begin little research.
Starting with a niche is a good idea. Numerous chances abound in every industry but have not yet been completely explored.
Here are some inspirations for you to build on if you’re not feeling particularly motivated by any one market niche:
Noticeably, T-shirts are the most popular products sold worldwide. If you have a really original idea or if you can catch the #trending wave in time, you might be able to profit from this.
Another helpful article: Shopify Chargeback: How To Fight And Win
Is it ultimately worthwhile to start a Shopify business?
Honestly, most Shopify stores never experience success beyond the optimistic flickers of newbies’ inspiration. Despite this, we hear more stories of incredibly profitable Shopify stores than we do of unsuccessful ones.
In a nutshell, Shopify is worthwhile, but only if you can move through “all the levels,” which begin with locating a fantastic product that customers truly want to purchase.
Once you’ve done that, the following step is gathering a crowd and turning them into customers. After that, the average Shopify store revenue will start to become a story that any newbies admire.