Order volume in Q2 2023: Amazon grows, Shopify remains flat

It is learned that on July 19, Extensiv released the order volume data of third-party sellers on e-commerce platforms in the first half of 2023. The agency is a company that provides omni-channel software solutions for warehousing, inventory and order management. The research platforms include Amazon, Shopify and other third-party platforms.

The study revealed the year-on-year and month-on-month growth trends in order volume for third-party sellers on platforms such as Amazon and Shopify.

Amazon's third-party sellers' order volume continues to grow

According to Extensiv data, the average order volume of Amazon's third-party sellers increased by 17% year-on-year in the first quarter of 2023, and in the second quarter, this indicator increased by 44% year-on-year. As shown in the figure below, Amazon's order volume growth is better than in the previous two years.

Judging from the week-on-week growth chart, Amazon's week-on-week order volume growth is also relatively stable, and the increase in the last week of the second quarter exceeded that of the previous two years.

Other industry data shows that third-party sellers accounted for 59% of Amazon's total sales in the fourth quarter of 2022 and the first quarter of 2023. Amazon revealed that its third-party seller service revenue in the first quarter was US$29.8 billion, an increase of 17.7% over the same period in 2022.

Shopify sellers' order volume remains flat, but revenue grows

Data from Extensiv shows that the average order volume of Shopify merchants fell by 1% in the first quarter of 2023, but increased by 9% in the second quarter, and the overall change in order volume remained stable.

Judging from the weekly growth chart, the order volume growth has been hovering in the single digits, which is basically consistent with the trend of the previous two years.

In May 2023, Shopify reported total revenue of $1.5 billion for the first quarter, up 25% year-over-year. Although Shopify's revenue growth has slowed from the past, it is still growing. As order volume remains flat, the revenue growth indicates that more high-priced items are being sold.

Other e-commerce platforms experienced a sharp decline in order volume

According to data from Extensiv’s website, other e-commerce platforms it tracks include BigCommerce, eBay, Etsy, Faire, FirstShoppingCart, GoogleShopping, OnBuy, PayPal, PrestaShop, QuickBooks, Rakuten, Walmart, Wayfair, Wish, WooCommerce, etc.

Data shows that all other e-commerce platforms studied by Extensiv experienced a decline in order volume in the second quarter. Overall, the average order volume of merchants on these platforms increased by 5% in the first quarter, but fell by 4% in the second quarter.

Judging from the weekly growth chart, the order volume of other e-commerce platforms experienced a significant increase around February this year.

The data is based on thousands of brands using Extensiv services, which primarily serve the U.S. The study noted that the uncertain economic situation has affected consumer behavior, with more consumers prioritizing lower shipping costs over faster delivery.

Editor✎ Ashley/

Disclaimer: This article is copyrighted and may not be reproduced without permission.