Here are 5 weird trends we noticed among them (in 60 seconds)
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1. Common Niches
The top Shopify stores are all in a few key niches.
→ 14 Beauty & Fitness brands
→ 12 Apparel brands
→ 10 Home & Garden brands
→ 8 Food & Drink brands
→ 7 Travel brands
Beauty takes the lead, likely because purchases are reoccurring and traditionally the cost to produce beauty products is lower than almost any other niche.
2. Pricing
→ The average price range for products is between $20-$100.
This means too cheap of products or too expensive can cause low volume or low revenue per order.
There is a middle ground of optimal volume and revenue that these brands have found.
3. Followers
→ On average the Top 100 Shopify stores have 1M+ total followers.
There's no escaping the fact that you can have a small follower count and be a top online store—the two are very correlated.
4. Employees
→ The average store on this list has 500+ employees.
Because there are legacy brands that use Shopify's systems this number is inflated.
But it goes without saying that building something huge requires a large amount of people.
5. Apps
→ The most common marketing app among stores is Klaviyo.
This explains in some ways how they were able to go public.
With such a strong presence among the Top 100 Klaviyo is the undisputed real winner of this list.
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This post was originally shared by Peter Quadrel on Linkedin.