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Shopify Pre-Earnings Report Q1 2022

By Jeremy Scott, Director of Research

After the period of rapid growth on Shopify’s eCommerce platform, 2022 is shaping up to be an investment year for the company. 

As SHOP releases its 1Q22 earnings report cyclical pressures and slowdowns in nontraditional categories will keep the pressure on to speed up innovation, especially as larger competitors begin to flex their muscles in the space.

  • The share of payment traffic generated internationally has climbed 10ppt in the last two years. International traffic was an outsized contributor to GMV growth in 1Q22.
  • Aggregated traffic to all Shopify-powered sites, a signal for Gross Merchandise Value (GMV), continues to decelerate from outsized pace last year 

Get more of the latest digital insights, including merchant conversions and payment mix in the full report. 

Shopify site visits graph
Jeremy Scott is the Director of Research for Similarweb’s Investor Solutions. Prior to Similarweb, Jeremy was a Director and Senior Research Analyst at Mizuho covering Food, Restaurants & Delivery. He has worked in similar roles at CLSA and Morgan Stanley. Jeremy brings nearly a decade of sell-side experience to Similarweb and specializes in building robust predictive models for complex industries in order to generate investment opportunities for clients. He is a graduate of Lafayette College and a CFA charter holder.

Jeremy Scott

Director or Research, Similarweb Investor Analytics