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 117,334 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
2,488
2019 Q2
2,526
2019 Q3
4,187
2019 Q4
6,386
2020 Q1
12,059
2020 Q2
27,132
2020 Q3
25,448
2020 Q4
32,826
2021 Q1 (to date)
4,282
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
20,666
2019/03/15
Laughing Monk Brewing
33,561
2020/05/01
Gamescape San Francisco
41,075
2020/05/29
Baileys' New Year's Eve Packages
43,224
2020/03/27
SHOP MADE IN DC
43,759
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
Mill River Winery
130,579
2021/01/15
Elsie’s
131,838
2021/01/15
Casting Whimsy
342,894
2021/01/15
Leaf Me Plant Boutique
509,119
2021/01/15
Head 2 Toe
683,006
2021/01/15

Platform Wins

Over the last 90 days, Square Online has taken 515 merchants from competitive platforms.

Platform Win Stores

Here are the top stores won from competitive platforms.

Name
Domain
Rank
Last Platform
Changed
Sachère Desserts
46,087
Wix
2020/11/01
REJUVENATE YOURSELF ™
66,747
BigCommerce
2021/01/07
All Star Vintage Tacoma
82,425
Shopify
2020/12/20
Tea & Sympathy
102,704
Wix
2020/11/14
The Tare Shop
120,170
Shopify
2020/12/20

Platform Losses

Over the last 90 days, Square Online has lost 1,264 merchants to competitive platforms.

Platform
Stores
634
165
26
3

Platform Loss Stores

Here are the top stores lost to competitive platforms.

Name
Domain
Rank
New Platform
Changed
Welcome to Savor Patisserie
41,844
WooCommerce
2020/11/19
Jack & Winn Apparel Co.
42,083
Shopify
2020/12/23
Fuzion Flooring
43,593
WooCommerce
2020/10/28
Johnnys Treasure Quest
45,893
Shopify
2020/11/13
rickeysjerky.com
46,531
Shopify
2020/12/01

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

Country Breakdown

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

Country
Stores
100,039
7,768
4,615
None
602
251
42
25

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
51,035
Professional
40,626
Performance
21,615
Premium
3,600
Unknown
458

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
77,748
66%
Email
56,044
47%
Facebook
48,898
41%
Instagram
44,055
37%
Pinterest
3,400
2%
Twitter
2,534
2%
YouTube
747
0%
Snapchat
625
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
64,634
.site
39,398
.ca
2,226
.com.au
2,207
.org
2,026
.net
1,797
.co.uk
1,408
.shop
932
.co
661
.us
253

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.