Is Shopify Getting Ready to Challenge Amazon?
Shopify (NYSE: SHOP) recently launched Shop, a new consumer-oriented shopping app that lets shoppers access a searchable feed of products from its merchants. The app also integrates the package tracking features of its Arrive app for merchants, as well as its Shop Pay checkout service.
16 million shoppers have used Arrive to track their shipments from retailers, while Shop Pay has processed over $8 billion in sales. Shopify wants to build an e-commerce marketplace on top of those foundations, but can it leverage its strengths in the merchant market to expand into Amazon's (NASDAQ: AMZN) backyard?
Image source: Shopify.
Source Fool.com
