SHOP - 1 E-Commerce Stock to Choose Over Shopify Heading Into 2024
2023-12-06 10:15:00 ET
As the world has become more digital and connected, e-commerce has exploded in growth. In 2000, U.S. retail e-commerce sales were just above $27 billion. In 2022, sales crossed the trillion-dollar mark.
One of the biggest beneficiaries of this growth in the earlier years is, unsurprisingly, Amazon (NASDAQ: AMZN) . You could argue that it's largely to thank for it. However, Shopify (NYSE: SHOP) has emerged as a formidable force in the industry, easing access to e-commerce for smaller retailers. Its role in e-commerce shouldn't be undermined.
Despite Shopify's vital role in e-commerce because of its platform, I would lean toward Amazon heading into 2024 because it's in a position to leverage its logistics network to benefit from e-commerce growth from multiple angles, not just as a retailer.
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1 E-Commerce Stock to Choose Over Shopify Heading Into 2024