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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 153,900 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
3,389
2019 Q2
2,471
2019 Q3
4,167
2019 Q4
6,245
2020 Q1
10,956
2020 Q2
24,346
2020 Q3
23,385
2020 Q4
29,735
2021 Q1
25,145
2021 Q2 (to date)
24,061
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
Come Back Daily CBD Shop
15,875
2021/06/18
SHOP MADE IN DC
20,640
2020/05/01
Laughing Monk Brewing Co.
31,140
2020/05/01
GAZETTE STORE
42,805
2019/03/15
Gamescape San Francisco
53,384
2020/05/29

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
Come Back Daily CBD Shop
15,875
2021/06/18
Kensington Barbers
132,502
2021/06/18
Alphonse Unlimited
824,631
2021/06/18
www.bnbburgerbars.com
1,050,942
2021/06/18
www.fleurbotanicals.com
1,151,610
2021/06/18

Platform Wins

Over the last 90 days, Square Online has taken 1,142 merchants from competitive platforms.

Platform Win Stores

Here are the top stores won from competitive platforms.

Name
Domain
Rank
Last Platform
Changed
www.ttpbooks.com
133,297
Miva Merchant
2021/04/16
www.theoutpost42n.com
134,507
Shopify
2021/06/11
TODAY BREAD
145,260
Squarespace
2021/04/18
www.fieldstonewine.com
150,354
WooCommerce
2021/04/29
Big Buns Damn Good Burgers
160,265
Squarespace
2021/05/01

Platform Losses

Over the last 90 days, Square Online has lost 2,241 merchants to competitive platforms.

Platform
Stores
853
59
35
14

Platform Loss Stores

Here are the top stores lost to competitive platforms.

Name
Domain
Rank
New Platform
Changed
Clarity Lab Solutions
45,203
WooCommerce
2021/04/17
SASCrunch.com
68,839
WooCommerce
2021/05/31
MINDS EYE DESIGN
69,066
Squarespace
2021/04/23
Zada's Vault
76,759
Shopify
2021/05/04
HOTIMPEX
94,779
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
6
10 - 24
6
25 - 49
2
50 - 99
2
100 - 249
2

Country Breakdown

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

Country
Stores
None
74,673
63,552
6,877
4,591
187
34
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
59,253
Professional
46,057
Performance
23,339
Unknown
21,333
Premium
3,918

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
87,552
56%
Email
63,034
40%
Facebook
55,109
35%
Instagram
53,136
34%
Twitter
13,330
8%
Pinterest
3,783
2%
YouTube
899
0%
Snapchat
669
0%
LinkedIn
19
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
84,305
.site
49,838
.ca
3,509
.com.au
3,425
.org
2,641
.net
2,580
.co.uk
2,550
.shop
1,138
.co
912
.us
323

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.