Shopify merchants helped to generate 112,780 new jobs in the UK in 2020 as the pandemic drove business owners online.
Shopify saw an increase of 106 per cent in new stores being created on the platform as the high street lost nearly 118,000 jobs according to the Centre for Retail Research (CRR).
The ecommerce platform also contributed £17.3 billion to the global economy, its merchants making the equivalent to the likes of Rolls-Royce.
The recently released Economic Impact Report, produced by Deloitte, revealed Shopify businesses created 3.6 million jobs worldwide.
“We’ve been conducting an experiment since Shopify was born,” Shopify chief executive Tobi Lütke said.
“Our hypothesis is that all economies depend on entrepreneurs and small businesses to thrive. Over the years, we’ve found this to be true.”
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Deloitte’s report found that for every $1 Shopify earns in revenue, its merchants generate $40.82.
Separate figures show that about 45,800 partners referred a merchant to the ecommerce platform over the last year, an increase of 73 per cent year-on-year.
Shopify managing director Shimona Mehta added: “Last year we saw a decade’s worth of retail change take place in just 12 months, with important implications for the retail jobs market.
“While parts of retail have been badly hit by job losses, it’s very encouraging to see the job opportunities boom which e-commerce has created.
“Our report also clearly shows that the potential for e-commerce as an engine for economic growth is huge.”
Shopify merchant and chief executive of Lounge, Dan Marsden, has seen his revenues boom over 300 per cent since the start of the pandemic.
He said: “We started 2020 with 28 team members but we now have 120 people working for us to support the business as we continue to grow. We’ve built our business model around the buying preferences of our customers and have been committed to building an online community.”