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The State of Square Online

Square Online is an ecommerce 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 ecommerce wars. Many of those merchants have had to use other platforms for ecommerce 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 135,837 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 ecommerce platform. In absolute numbers, it's still a relatively small player in the ecommerce 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
2,540
2019 Q2
2,377
2019 Q3
4,056
2019 Q4
6,092
2020 Q1
10,835
2020 Q2
25,463
2020 Q3
23,627
2020 Q4
30,034
2021 Q1
25,120
2021 Q2 (to date)
5,693
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 ecommerce needs so don't expect to find many high-ranking merchants on the Square platform.

Name
Domain
Rank
Created
SHOP MADE IN DC
12,658
2020/05/01
GAZETTE STORE
20,619
2019/03/15
¿Por Qué No? Taqueria
21,727
2020/04/24
Laughing Monk Brewing
27,356
2020/05/01
Bon Voyage Medical
43,098
2020/11/13

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
Paradise Hair, Makeup, & Airbrush Tanning
362,898
2021/04/16
Shop on Line with The Speckled Sheep
575,921
2021/04/16
The Futbol Physios
1,265,845
2021/04/16
Trumparilla MAGA Fest
1,535,401
2021/04/16
Tammy’s Country Corner
1,535,611
2021/04/16

Platform Wins

Over the last 90 days, Square Online has taken 742 merchants from competitive platforms.

Platform Win Stores

Here are the top stores won from competitive platforms.

Name
Domain
Rank
Last Platform
Changed
TURN THE PAGE BOOKSTORE
92,675
Miva Merchant
2021/04/16
TODAY BREAD
106,988
Squarespace
2021/04/18
feast!
107,182
Wix
2021/03/12
Crooked Beat Records
122,136
Shopify
2021/03/28
GLOBAL VINTAGE COLLECTIVE
127,573
Shopify
2021/03/21

Platform Losses

Over the last 90 days, Square Online has lost 2,114 merchants to competitive platforms.

Platform
Stores
932
284
45

Platform Loss Stores

Here are the top stores lost to competitive platforms.

Name
Domain
Rank
New Platform
Changed
Clarity Lab Solutions
26,132
WooCommerce
2021/04/17
Tekton Design
29,716
WooCommerce
2021/03/01
Texas Tree Farms
53,191
Shopify
2021/02/13
Devitt House
87,007
Shopify
2021/04/04
HOTIMPEX
91,302
WooCommerce
2021/03/28

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
4
10 - 24
6
25 - 49
1
50 - 99
45,761
100 - 249
3

Country Breakdown

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

Country
Stores
114,705
9,481
5,523
None
479
475
62
27

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
59,868
Professional
47,421
Performance
24,150
Premium
3,990
Unknown
408

Social Media and Contact Info

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

Type
Stores
Percent
Phone
90,773
66%
Email
65,735
48%
Facebook
57,051
41%
Instagram
53,956
39%
LinkedIn
45,775
33%
Twitter
13,650
10%
Pinterest
3,919
2%
YouTube
915
0%
Snapchat
707
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
73,797
.site
45,802
.ca
2,880
.com.au
2,746
.org
2,295
.net
2,182
.co.uk
1,897
.shop
1,027
.co
799
.store
285

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.