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Attach Rate
Measures the frequency of additional services purchased alongside core offerings, indicating cross-selling success and customer engagement.Shopify's attach rate has shown a steady upward trend since 2022, reflecting enhanced merchant engagement and the successful integration of AI-driven solutions like Sidekick. The latest earnings call highlights a 32% growth in GMV and revenue, underscoring strong merchant solutions adoption. Despite challenges like declining gross margins and increased transaction losses, Shopify's strategic focus on international expansion and AI capabilities is driving significant growth, with Shopify Payments achieving 65% GMV penetration. This momentum suggests continued strength in Shopify's ecosystem, potentially boosting future attach rates.
Date | Attach Rate |
|---|---|
Sep 30, 2024 | 3.10 |
Jun 30, 2024 | 3.00 |
Mar 31, 2024 | 3.06 |
Dec 31, 2023 | 2.85 |
Sep 30, 2023 | 3.05 |
Jun 30, 2023 | 3.08 |
Mar 31, 2023 | 3.04 |
Dec 31, 2022 | 2.79 |
Sep 30, 2022 | 3.03 |
Jun 30, 2022 | 2.76 |