How large is Shopify next to Etsy, eBay, Amazon's third-party sellers and Squarespace, in sales volume?
Shopify's 2025 gross merchandise volume (GMV) was $378,441 million, 4.8 times eBay's GMV of $79,609 million and 36 times the $10,460.7 million of gross merchandise sales (GMS) on Etsy's marketplace, computed by Deploi. Updated October 18, 2026.
By Martin DejnickiUpdated Data through 2025
Short answer
Shopify's gross merchandise volume (GMV) was $378,441 million in fiscal 2025, 4.8 times eBay's GMV of $79,609 million and 36 times the $10,460.7 million of gross merchandise sales (GMS) on Etsy's marketplace, according to each company's Form 10-K for 2025, with the ratios computed by Deploi. Amazon and Squarespace publish no comparable figure. Each measure is the company's own, so the figures compare in scale only.
Shopify's 2025 GMV, $378,441 million, was 36 times Etsy marketplace GMS and 4.8 times eBay's GMV
Gross merchandise volume (GMV: Shopify, eBay) or gross merchandise sales (GMS: Etsy marketplace, Depop, Reverb) as each company reports it, fiscal year 2025, USD millions
- GMV (Shopify, eBay) and GMS (Etsy marketplace, Depop, Reverb) are each company's own measure of the value of orders placed through it; they compare in scale only.
- Etsy marketplace, Depop and Reverb are reported separately in Etsy, Inc.'s Form 10-K for 2025.
- Etsy sold Reverb on June 2, 2025, so Reverb's 2025 GMS covers the part of the year before the sale.
- Amazon does not publish a gross merchandise volume for its third-party sellers, and Squarespace has been privately held since 2024 and publishes no GMV, so those two are not drawn; they are not zero.
Source: Shopify Inc., eBay Inc. and Etsy, Inc. Forms 10-K for 2025 (Etsy marketplace, Depop and Reverb GMS). Read on .
What this means for your decision
- Choosing between your own store and a marketplace? Shopify's fiscal 2025 GMV of $378,441 million was 4.8 times eBay's GMV and 36 times the GMS of Etsy's marketplace, computed by Deploi from each Form 10-K. The figures show how much volume each platform carries, not what a new seller would sell there.
- Reading the ratios as exact multiples? GMV and GMS are each company's own measure, so the ratios compare scale only. They are not market shares, because the total market is not in the data.
- Weighing Amazon or Squarespace? Amazon gives no GMV for its third-party sellers, and Squarespace, privately held since 2024, publishes none. An empty row is not a small number, and a revenue figure is not a substitute for a sales volume.
- Counting Etsy? The $10,460.7 million is the Etsy marketplace alone. With Depop and Reverb, Etsy, Inc.'s GMS came to $11,916.9 million in 2025, computed by Deploi.
- Building your own store channel? Deploi builds ecommerce sites. Contact Deploi before you commit to a plan.
How large is Shopify's sales volume next to eBay and Etsy?
Shopify's 2025 GMV of $378,441 million is the largest of the five volumes in the dataset: eBay's GMV was $79,609 million, and GMS was $10,460.7 million on Etsy's marketplace, $1,074.9 million on Depop and $381.3 million on Reverb, all for fiscal 2025 from each company's Form 10-K. Amazon and Squarespace publish no comparable figure.
Shopify's GMV is 4.8 times eBay's GMV and 36 times the Etsy marketplace's GMS, computed by Deploi. eBay's GMV is 7.6 times the Etsy marketplace's GMS, also computed by Deploi.
The chart draws values as reported, in USD millions.
What is the difference between GMV and GMS?
Gross merchandise volume (GMV) and gross merchandise sales (GMS) are each company's own measure of the value of orders placed through it in fiscal 2025. Shopify and eBay report GMV, while Etsy, Inc. reports GMS for its Etsy marketplace, Depop and Reverb, in their Forms 10-K. Each company sets its own definition, so the figures compare in scale only.
The dataset keeps the label each filing uses. A gap in scale of this size is large enough to read, but the exact ratios depend on how each company counts.
How large were Etsy, Inc.'s other marketplaces in 2025?
Etsy, Inc. reported GMS of $10,460.7 million for its Etsy marketplace, $1,074.9 million for Depop and $381.3 million for Reverb in its Form 10-K for 2025. The three come to $11,916.9 million together, computed by Deploi. Shopify's 2025 GMV of $378,441 million is 32 times that combined figure, also computed by Deploi.
Etsy, Inc. reported the three separately for 2025. The chart shows each on its own so that the Etsy marketplace figure is not mistaken for the group total.
Where do Amazon's third-party sellers and Squarespace fit?
Amazon does not publish a gross merchandise volume for its third-party sellers, and Squarespace has been privately held since 2024 and publishes no GMV, so neither has a sales volume in this dataset for fiscal 2025. Their empty rows do not mean zero. Shopify's $378,441 million and eBay's $79,609 million of GMV come from their Forms 10-K for 2025.
Amazon discloses revenue from third-party seller services, which is a revenue figure and not a sales volume. Deploi does not substitute it for GMV.
The data
Each chart on this page is drawn from the numbers below. Units are in the column headers.
| Platform | Measure | Fiscal year | Volume (USD million) |
|---|---|---|---|
| Shopify | GMV | 2025 | 378,441 |
| Etsy marketplace | GMS | 2025 | 10,461 |
| Depop | GMS | 2025 | 1,075 |
| Reverb | GMS | 2025 | 381 |
| eBay | GMV | 2025 | 79,609 |
Download Sales volume through Shopify, Etsy, eBay, Squarespace and Amazon third-party sellers, fiscal 2025 as CSV · All 5 columns on the dataset page
Methodology
Reading the chart: Shopify's 2025 GMV, $378,441 million, was 36 times Etsy marketplace GMS and 4.8 times eBay's GMV
- GMV (Shopify, eBay) and GMS (Etsy marketplace, Depop, Reverb) are each company's own measure of the value of orders placed through it; they compare in scale only.
- Etsy marketplace, Depop and Reverb are reported separately in Etsy, Inc.'s Form 10-K for 2025.
- Etsy sold Reverb on June 2, 2025, so Reverb's 2025 GMS covers the part of the year before the sale.
- Amazon does not publish a gross merchandise volume for its third-party sellers, and Squarespace has been privately held since 2024 and publishes no GMV, so those two are not drawn; they are not zero.
Caveats: Sales volume through Shopify, Etsy, eBay, Squarespace and Amazon third-party sellers, fiscal 2025
- GMV and GMS are each company's own measure of the value of orders placed through it, so the figures compare in scale only and are not a market share.
- Amazon does not publish a gross merchandise volume for its third-party sellers, and Squarespace has been privately held since 2024 and publishes no GMV, so those two rows have no volume. Empty means not published, not zero.
- Etsy, Inc. reports the Etsy marketplace, Depop and Reverb separately; the combined figure on the story page is their sum, computed by Deploi.
- Ratios on the story page divide one company's volume by another's and are computed by Deploi.
- Etsy, Inc. sold Reverb on June 2, 2025, so Reverb's 2025 GMS covers the part of the year before the sale.
- On February 15, 2026, Etsy agreed to sell Depop to eBay; Etsy's Form 10-K for 2025 expected the sale to close in the second quarter of 2026. The 2025 figures are as Etsy reports them.
Deploi's charts and compilation are licensed CC BY 4.0. The underlying facts belong to their sources, which are named on every page. How Deploi Shopify Data works.
Sources
Tier A sources are primary documents: filings, official releases and official price pages. How sources are ranked.
- Tier AeBay Inc., Form 10-K for the fiscal year ended December 31, 2025, filed 2026-02-19
eBay Inc. · HTML · Read on
- Tier A
- Tier AShopify Inc., Form 10-K for the fiscal year ended December 31, 2024, filed 2025-02-11
Shopify Inc. · HTML · Read on
- Tier AShopify Inc., Form 10-K for the fiscal year ended December 31, 2025, filed 2026-02-11
Shopify Inc. · HTML · Read on
Cite and reuse
Deploi's charts and compilation are licensed CC BY 4.0. The underlying facts belong to their sources, which are named on every page.
APA
Deploi. (2026). How large is Shopify next to Etsy, eBay, Amazon's third-party sellers and Squarespace, in sales volume? [Web page]. https://deploi.ca/shopify/data/shopify-vs-marketplaces-sales-volume Retrieved October 18, 2026.
BibTeX
@misc{deploi_shopify_vs_marketplaces_sales_volume_2026,
author = {{Deploi}},
title = {How large is Shopify next to Etsy, eBay, Amazon's third-party sellers and Squarespace, in sales volume?},
year = {2026},
url = {https://deploi.ca/shopify/data/shopify-vs-marketplaces-sales-volume},
note = {Accessed 2026-10-18}
}Embed this chart
Embed code
<iframe src="https://deploi.ca/embed/shopify/data/platform-sales-volume-2025" title="Shopify's 2025 GMV, $378,441 million, was 36 times Etsy marketplace GMS and 4.8 times eBay's GMV" loading="lazy" style="width:100%;height:420px;border:0"></iframe> <p style="font:12px/1.4 Arial,sans-serif;margin:4px 0 0">Source: <a href="https://deploi.ca/shopify/data/shopify-vs-marketplaces-sales-volume#chart-platform-sales-volume-2025">Deploi, Shopify's 2025 GMV, $378,441 million, was 36 times Etsy marketplace GMS and 4.8 times eBay's GMV</a></p>
Keep the credit line under the embed. It is the license condition.
Questions
How big is Shopify compared with Etsy?
Shopify's gross merchandise volume was $378,441 million in fiscal 2025, 36 times the $10,460.7 million of gross merchandise sales on Etsy's marketplace, computed by Deploi from each company's Form 10-K for 2025. The measures are each company's own.
How big is Shopify compared with eBay?
Shopify's gross merchandise volume was $378,441 million in fiscal 2025, 4.8 times eBay's GMV of $79,609 million, computed by Deploi from each company's Form 10-K for 2025. Both are GMV, each as the company defines it.
Is GMV the same as revenue?
No. GMV is the value of orders placed through a platform or marketplace, not what the company earns from them. The figures here, such as Shopify's $378,441 million for fiscal 2025, are volumes as each Form 10-K reports them.
Why are Amazon and Squarespace missing?
Amazon does not publish a gross merchandise volume for its third-party sellers, and Squarespace has been privately held since 2024 and publishes no GMV. Their rows are empty in the dataset, which does not mean zero sales.
Which year do the figures cover?
All five values are as the Forms 10-K that Shopify, eBay and Etsy, Inc. filed in February 2026 report them for fiscal 2025, retrieved October 18, 2026. The fiscal year of each of the three companies ended December 31, 2025.
More on Adoption and market
- Are enterprise sites moving off Magento, Salesforce Commerce Cloud and SAP to Shopify?
Shopify is the only one of six platforms that grew among the top 100,000 sites between January 2022 and September 2026, reaching 1,830 origins, per HTTP Archive. Updated October 18, 2026.
- Do Wix and Squarespace stores stay small compared with Shopify stores?
10.6% of Shopify sites rank in the top 1 million by Chrome traffic, against 0.4% of Wix eCommerce and 0.5% of Squarespace Commerce sites, per HTTP Archive. Updated October 18, 2026.
- How big is Global-e's cross-border business and how much of its growth depends on Shopify Managed Markets?
Global-e's gross merchandise value reached $6,569 million in 2025, up from $3,557 million in 2023; the dataset does not split GMV by merchant platform. Updated October 18, 2026.
- How large is BigCommerce (Commerce.com) compared with Shopify, and is its enterprise base growing?
Commerce.com, formerly BigCommerce, reported gross merchandise volume (GMV) of $31,696 million for fiscal 2025, and Shopify's $378,441 million was 11.9 times as large, computed by Deploi, while HTTP Archive detected BigCommerce on fewer sites each year. Updated October 18, 2026.
- How many live Shopify sites are there, measured independently of Shopify?
HTTP Archive detected Shopify on 452,270 mobile origins in September 2026, up from 60,749 in January 2020. The count covers sites with Chrome traffic, not merchants. Updated October 18, 2026.
- How many sites still run Magento 1, and how fast is Magento shrinking overall?
HTTP Archive detected Magento 1 on 903 mobile origins in September 2026, within 32,588 Magento origins in total, 43% below the January 2023 peak. Updated October 18, 2026.
Changes
- · Sales volume through Shopify, Etsy, eBay, Squarespace and Amazon third-party sellers, fiscal 2025
First published.