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Shopify Seasonality

Historical month-by-month and year-by-year returns

Based on 12 calendar years of monthly closes, starting 2015.

By Month

MonthAverageMedian% PositiveBestWorst
January+7.0%+9.8%64%+41.9%30.0%
February1.1%3.6%36%+16.6%28.0%
March+1.4%1.7%45%+26.1%14.7%
April+5.9%+6.9%73%+51.7%36.9%
May+5.7%+10.8%64%+20.9%15.7%
June+7.2%+8.4%67%+25.3%16.7%
July+4.7%+5.9%83%+11.5%7.3%
August+7.7%+5.4%69%+30.5%26.3%
September0.4%+3.8%55%+27.8%19.1%
October1.4%3.4%36%+27.1%16.0%
November+12.6%+7.4%82%+54.3%18.2%
December1.2%2.1%45%+18.1%15.1%

By Calendar Year

YearReturn
2025+51.4%
2024+36.5%
2023+124.4%
202274.8%
2021+21.7%
2020+184.7%
2019+187.2%
2018+37.1%
2017+135.6%
2016+66.2%

These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.