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Shopify App Store is a bubble?
Daniil Andreev
September 16, 2023
Hey there đź‘‹
Do you think there is a Shopify App bubble? They offer a rather weird picture. There are upwards of 10,000 apps currently in the Shopify App Store and Shopify users have collectively installed more than 25 million apps.
The growth of merchants has not kept up with the overall number of apps. Fewer vendors are now accessible per app.
We used MRR as a stand-in for official merchant figures because Shopify no longer discloses them in its annual reports. If you compare this chart to the previous one, it's a fairly decent one. Though imprecise, it is still useful.
Since 2018, fewer suppliers are available generally per app. The marketplace is now more busy than it has been since 2015. Congratulations to everyone who released an app in late 2017 at what, according to the data, was the most popular time.
Caveats
These statistics came from open annual reports. Certain data are estimated. We were unable to locate the data, but we do recall that retailers are installing more apps than ever before. None of those or app revenue data are available to us.
More retailers and apps than ever before are available. The expansion of apps has exceeded that of businesses. Per merchant, there are now more apps.
We have bet a lot on Shopify. There is no better area to build because the app store still has open space and the ecosystem as a whole is expanding.
Thanks for reading! ‍What do you think about that expansion of apps in context of your business?
Daniil from ECORN
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