Industry Overview
Shopify competes in the broad e-commerce industry. Competitors include Amazon, eBay, Etsy, BigCommerce, and many other companies. Competitors are either platforms like Amazon that connects buyers and sellers or software companies that offer the same or similar services to Shopify. The e-commerce market is broad and is always expanding. It has seen tremendous growth during COVID-19 and it will likely continue growing long afterward.
E-commerce has been one of the largest trends over the past two decades as more and more consumers turn to Amazon or other online stores to buy products. This trend has only accelerated as COVID-19 has forced buyers online to buy many of their purchases.