Is there a Shopify App bubble? They offer a rather weird picture. The app store currently has over 10,000 apps, 84 of which were uploaded just last week.
The growth of merchants has not kept up with the overall number of apps. Fewer vendors are now accessible per app.
We used MRR as a stand-in for official merchant figures because Shopify no longer discloses them in its annual reports. If you compare this chart to the previous one, it's a fairly decent one. Though imprecise, it is still useful.
Since 2018, fewer suppliers are available generally per app. The marketplace is now more busy than it has been since 2015. Congratulations to everyone who released an app in late 2017 at what, according to the data, was the most popular time.
These statistics came from open annual reports. Certain data are estimated. We were unable to locate the data, but we do recall that retailers are installing more apps than ever before. None of those or app revenue data are available to us.
More retailers and apps than ever before are available. The expansion of apps has exceeded that of businesses. Per merchant, there are now more apps.
We have bet a lot on Shopify. There is no better area to build because the app store still has open space and the ecosystem as a whole is expanding.