Wix likes to think big. Really big. Superbowl ads, celebrity endorsements, superlatives, that kind of thing. And we also find there is substance behind those boasts. The company regularly tops our list of the best website builders for beginners.
But how big a company are they really? Is their popularity real, or boosted by marketing campaigns? This is what I’ll try to establish today by working out the Wix market share in the world of website builders.
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Wix is Indeed the Most Popular Hosted Website Builder
Unsurprisingly, that rate tends to decrease as you reduce the pool of included websites. This is because so many top-websites are custom-built, or their content management system is unknown.
- Top 1m websites: 0.57% built with Wix
- Top 100k websites: 0.32% built with Wix
- Top 10k websites: 0.41% built with Wix
If you don’t count unknown CMS, the figure rises to 2.3%. Still, I don’t know if you think it’s a lot or surprisingly little. The numbers certainly pale in comparison with WordPress, which powers around 38% of all websites on the entire Internet (but is mainly a self-hosted solution).
The Company Reached 4.4M Premium Subscribers
Look at the nice growth on these charts, which come directly from Wix’s last public quarterly report in 2019:
The increase of roughly 1M premium users per year is pretty astonishing. And what’s even more interesting is the footnote: Users do not include mobile Wix App, Flok, DeviantArt, or Wix Answers. Subscriptions do not include Flok, DeviantArt, Wix Answers, or Wix Logo Maker. They also do not count users who have signed up to Wix, and have yet to build a website.
That means they a) count them as unregistered users, b) probably have millions more potential customers they can target for “vertical integration”.
But Its Market Share is Not Growing As Fast As Squarespace’s
Interestingly, in terms of market share trends, Wix is battling it out with Squarespace. According to W3techs, it’s lagging behind, at 2,7% Vs 2,3% in 2020.
So the takeaway here is that there could be very serious competition between Wix and Squarespace in the hosted website builder market – more about Squarespace Market Share.
It’s going to be interesting to keep a close watch on these two in the years to come. (And if you want to compare them in terms of product quality, pricing and features, here’s our breakdown of Wix Vs Squarespace.)
Wix Shares Are Worth 840% More Than at IPO
Wix went public as a company in late 2013. One share was worth $17.30 at the time. Fast forward to early 2020 and it’s now up to $146.70. It went up by 17% in January, so still showing strong gains.
Guess you wish you had invested in them at the time, right?
It Earned $603.7M in 2018
The company made $603.7M in revenue in 2018 and employs 1,800 people worldwide. In terms of gain, it’s still not as impressive as Shopify’s $1,07B for the same year.
And it’s hard to compare it to its nearer competitor, Squarespace, as they are still a private company. The last numbers we have are for 2017, when they earned $300M. But that doesn’t account for all the funding it received at a $1.7B valuation.
…And Spent $74M of It On Marketing That Year
So they did show restraint, considering they have a $100M advertising budget a year. That explains the Superbowl ads, dreamed up yearly by their own in-house advertising team.
Worth noting that their 2017 ad, featuring Gal Gadot and Jason Statham, was considered the most socially engaging of all Superbowl campaigns that year. So they’re not only designed to woo TV viewers, but also to work across multiple channels.
Wix Is Still the Most Searched For
Proof that these big marketing bucks pay off in one area: interest. People sure search a lot for Wix online.
According to Ahrefs, it’s typed into Google more than twice as much as Shopify. (Although, like WordPress, Shopify is not exactly a direct competitor, as it is only for ecommerce.)
- Wix: 6.8M
- Shopify: 3.1M
- Squarespace: 1.4M
- Weebly: 946K
But speaking of ecommerce….
It Is Not Doing Bad With Ecommerce Either
Ok, it just about makes the top 10 of the most used ecommerce solution, but it’s still pretty good considering 8 of the ones above are specifically designed for online stores. There is one exception, Squarespace and their Add to Cart feature.
There is quite a big gap between Squarespace and Wix here, which shows that the former’s popularity probably has to do with its great online stores.
And if you were wondering if there’s a price advantage: both let you build an online store starting from their respective Business plans, which cost between $23 (Wix) and $18 (Squarespace).
Interested in similar stats about Shopify’s market share? Check out this post.
But Wix Is Nowhere Near As Popular As WordPress
Google Trends graphs aren’t the most reliable or precise statistical tools out there, but it’s worth looking at the one below:
As you can see, it’s neck and neck between Wix and Shopify in terms of Google users interest. Nevertheless, WordPress is way ahead of them both, with almost three times as much interest in September 2020.
So They’re Working Hard to Expand Their Market
Two interesting insights I learned in early 2020 (particularly from browsing their public report for 2019). Both of them have to do with expanding the size of Wix’s market with new products:
- Editor X: a completely customizable solution to build websites with much more flexibility than the current editor. It’s aimed at expert web designers and agencies who want complete control over the design.
- Velo: an advanced platform for creating web apps. Once again, it’s targeting technical coders who need a robust solution to deliver sites for clients.
It’s particularly interesting how it sits at the other end of the spectrum of Wix ADI, which would enable Wix to offer solution for everyone, from complete beginners to advanced web designers (and probably attacking WordPress’s market domination there).
Will The Wix Uptrend Continue?
So it’s an interesting time for Wix. In terms of ecommerce it’s going to be nearly impossible for them to catch up with Shopify. Similarly, users who self-host their sites tend to choose WordPress.
Or could it all change with the announcement of their new editor, built with designers and agencies in mind? And they certainly bet big on Velo, their platform for creating web apps.
Let’s see how much of an impact these $100M yearly advertising budgets have in the long run!
Want more stats about website builders market share? Please leave your thoughts below!