Shopify (TSX:SHOP)(NYSE:SHOP) is a leading global commerce company and provides tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for buyers.
In an era where social media, cloud computing, mobile devices, and data analytics are creating new possibilities for commerce, Shopify provides differentiated value by offering merchants a multi-channel front end. The company’s software enables merchants to easily display, manage, and sell products across several sales channels. Shopify’s application program was developed to support custom storefronts that let merchants sell anywhere, in any language.
Helping small businesses grow
The company’s software provides one single integrated, easy-to-use back end that merchants and buyers use across multiple sales channels. Merchants use the Shopify dashboard, which is available in 20 languages, to manage products and inventory, process orders and payments, and fulfill and ship orders.
Shopify’s software is delivered to merchants as a service and operates on a shared infrastructure. The company’s cloud-based infrastructure not only relieves merchants from running and securing hardware, it also consolidates data generated by the interactions between buyers and merchants’ shops. Shopify also enables merchants to build a brand, leverage mobile technology, and handle massive traffic spikes with flexible infrastructure.
Excellent user experience
Shopify’s platform is designed to allow a merchant to keep the brand present in every interaction to help build buyer loyalty. While the company’s platform is designed to empower merchants first, merchants benefit when buyers are confident that payments made are secure. Shopify provides a superior and secure checkout experience, with features such as Shop Pay.
As e-commerce expands as a percentage of overall retail transactions, buyers expect to be able to transact anywhere, anytime, on any device through an experience that is simple, seamless, and secure. As transactions over mobile devices represent the majority of transactions across online stores powered by Shopify, the mobile experience is a merchant’s primary and most important interaction with online buyers.
Shopify’s merchants are able to offer buyers the ability to quickly and securely check out by using Shop Pay, Apple Pay, and Google Pay on the web. The company continues to explore other new ways to accelerate checkout. Shopify’s platform addresses the growing challenges that merchants face with the aim of making complex tasks simple. The Shopify platform is engineered to enterprise-level standards and designed for ease of use.
Shopify has also design the platform with robust technical infrastructure to be able to manage large spikes in traffic that accompany events such as new product releases, holiday shopping seasons, and flash sales. The company is constantly innovating and enhancing Shopify’s platform, and ensures that all merchants are always using the latest technology. This combination of ease of use with enterprise-level functionality allows merchants to start with a Shopify store and grow with Shopify’s platform to almost any size.
Despite a significant rise in Shopify’s stock price, shares could still be inexpensive at current levels.
If you enjoyed this article, click the link below for top market insight delivered directly to your inbox!
One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!
- Shopify (TSX:SHOP): Should You Buy the Dip?
- 3 Top Canadian Growth Stocks to Buy by April 2021
- Top 2 Wait-and-Watch Growth Stocks for 2021
- 3 Top TSX Stocks to Buy for April 2021
- 2 Top Growth Stocks Worth Paying a Premium for
Fool contributor Nikhil Kumar has no position in any of the stocks mentioned. David Gardner owns shares of Apple. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Apple, Shopify, and Shopify and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 calls on Apple.
The post TFSA Investors: 1 Top Tech Growth Stock to Own in 2021 appeared first on The Motley Fool Canada.
The Motley Fool Canada