The State of Square Online

Square Online is an e-commerce platform that resulted from Square's acquisition of Weebly in April, 2018. The new platform was launched to the public in March 2019.

As a major player in the payments space, Square brings a large customer base of offline merchants to the e-commerce wars. Many of those merchants have had to use other platforms for e-commerce and it will be interesting to see how successful Square is at converting merchants to the new platform.

At the time of launch, the new platform could not complete on features with mature offerings like Shopify. However, Square's goal is likely to prevent existing small merchants from using other platforms while slowly bringing their platform upmarket over time. This parallels the approach used with the launch of their card reader, which appealed mostly to micro-merchants and slowly grew to support large businesses.

Quarterly Growth

At present, there are 91,823 live stores running on the Square Online platform.

It's been a little over a year after launch and Square Online has shown impressive quarter-over-quarter growth. In percentage terms, it is the fastest growing e-commerce platform. In absolute numbers, it's still a relatively small player in the e-commerce space but we'll be watching closely to see if it manages to sustain this growth. It's a little unclear how much of this initial success is due to converting existing Weebly customers to the new platform or from migrating part of Square's extensive base of offline-first merchants to the online world. Both sources are likely contributing.

It should also be noted that merchant counts aren't everything. Due to its nascent feature set, merchants on Square Online still tend to be smaller operations that don't need the advanced features that you'll find on other platforms. So the average Square Online likely contributes much lower GPV than the average Shopify merchant. As noted above, this is consistent with their expected strategy of starting with micro-merchants and moving up-market over time. Initial indications are that this approach is gaining traction.

Quarter
New Active Stores
2019 Q1
2,365
2019 Q2
2,636
2019 Q3
4,350
2019 Q4
7,221
2020 Q1
12,853
2020 Q2
28,912
2020 Q3
28,650
2020 Q4 (to date)
4,836
Cumulative Stores by Quarter

Top Stores

Here are the top stores, powered by Square Online, ordered by worldwide store rank. Square Online Store appeals mostly to micro-merchants that have basic e-commerce needs so don't expect to find many high-ranking merchants on the Square platform.

Name
Domain
Rank
Created
GAZETTE STORE
15,527
2019/03/15
A Permaculture Farm Near Huntsville, AL
34,186
2020/01/17
Laughing Monk Brewing
36,068
2020/05/01
Oncali CBD Home
42,693
2019/09/20
SHOP MADE IN DC
43,805
2020/05/01

New Stores

As noted above, we'll be watching the new stores added to Square Online with great interest. Here are the 5 highest-ranked stores added most recently.

Name
Domain
Rank
Created
Spinning J
96,438
2020/10/16
Racine Heritage Museum
98,168
2020/10/16
www.thechocolatbar.com
109,766
2020/10/16
Fox and Lion Bread
117,048
2020/10/16
Oyunaa's Mongolian Cuisine
134,294
2020/10/16

Platform Wins

Over the last 90 days, Square Online has taken 577 merchants from competitive platforms.

Platform Win Stores

Here are the top stores won from competitive platforms.

Name
Domain
Rank
Last Platform
Changed
Laughing Monk Brewing
36,068
Wix
2020/10/16
SHOP MADE IN DC
43,805
Wix
2020/07/30
Fettle + Fare
63,802
Shopify
2020/09/01
Hemptherapy Care
71,005
Shopify
2020/09/26
Publik Coffee
99,472
Shopify
2020/09/25

Platform Losses

Over the last 90 days, Square Online has lost 1,231 merchants to competitive platforms.

Platform
Stores
555
95
38
3

Platform Loss Stores

Here are the top stores lost to competitive platforms.

Name
Domain
Rank
New Platform
Changed
florence-london.com
95,050
Shopify
2020/10/10
gamescape-north.com
96,729
Ecwid
2020/10/17
Buy cbd oil
105,285
Shopify
2020/07/29
Enna Chocolate
113,439
Squarespace
2020/07/29
Tempo Beverages
113,499
Shopify
2020/09/27

Category Breakdown

Here are the top 20 industry verticals for stores on Square Online.

Employee Breakdown

Here is the breakdown of Square Online stores by the number of employees.

Employees
Stores
1 - 9
3
10 - 24
2
25 - 49
2
50 - 99
1
100 - 249
2

Country Breakdown

The Square Online install base is predominantly within the United States.

Country
Stores
79,703
5,398
3,362
None
581
76
29
20

With a paid account, stores can also be segmented by region and city.

Pricing Plan Breakdown

With more than half of their install base using a paid plan, Square Online has done a terrific job upselling merchants.

Pricing Plan
Stores
Free
37,259
Professional
32,951
Performance
18,244
Premium
3,008
Unknown
361

Social Media and Contact Info

Email and phone remains popular channels with the majority of Square Online stores providing an email address or phone for customer communication.

Facebook and Instagram have significant presence within the Square Online install base, with other social networks lagging significantly.

Type
Stores
Percent
Phone
61,364
66%
Email
43,582
47%
Facebook
36,937
40%
Instagram
34,210
37%
Twitter
4,773
5%
Pinterest
2,678
2%
YouTube
553
0%
Snapchat
526
0%
LinkedIn
10
0%

Top-level Domain Distribution

The vast majority of Square Online stores use a .com domain. This is not surprising since alternate top-level domains have only recently been introduced and there is still a certain cachet associated with .com domains.

Top-level Domain
Stores
.com
55,044
.site
26,998
.org
1,793
.net
1,494
.com.au
1,407
.ca
1,296
.shop
886
.co.uk
753
.co
444
.store
230

Get more insights on Square Online stores

Our search interface is easy to use and helps you find the Square Online stores that are relevant to you.

You can segment stores on a variety of dimensions:

  • Social Media accounts
  • Email address
  • Phone numbers
  • Country
  • Creation date
  • Platform
  • Top-level domains
  • Domain status
  • Domain type
Filter stores on social media presence
Filter on stores with Facebook accounts.

For more insights on Square Online stores, create a free account and have a look for yourself.