{"id":34472,"date":"2025-10-28T23:59:00","date_gmt":"2025-10-28T15:59:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=34472"},"modified":"2025-10-29T10:59:06","modified_gmt":"2025-10-29T02:59:06","slug":"shopify-surpassed-amazon","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/","title":{"rendered":"Shopify surpassed Amazon in some important e-commerce metrics"},"content":{"rendered":"\n<p>Not surprised! Most people don&#8217;t believe shopify surpassed Amazon, especially in some important e-commerce metrics.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Shopify_Market_Share_At_a_Glance\" >Shopify Market Share: At a Glance&nbsp;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Overall_market_share\" >Overall market share<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Yaguara_report\" >Yaguara report<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Flexible_strategy\" >Flexible strategy<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Big_strategic_misstep\" >Big strategic misstep<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Refocus_on_the_e-commerce_shopping_experience\" >Refocus on the e-commerce shopping experience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Reborn_from_the_ashes\" >Reborn from the ashes<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Shopify_surpassed_Amazon\" >Shopify surpassed Amazon<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#In_some_important_e-commerce_performance_index\" >In some important e-commerce performance index<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Comparison_on_revenue\" >Comparison on revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#GMV_Comparison\" >GMV Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Shopifys_other_important_metrics\" >Shopify&#8217;s other important metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Financial_indicators\" >Financial indicators<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#OpenAIs_e-commerce_Partner\" >OpenAI&#8217;s e-commerce Partner<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Capital_market_performance\" >Capital market performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Market_Cap\" >Market Cap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Valuation\" >Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Stock_Performance\" >Stock Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Stock_Price_Reaches_New_Highs\" >Stock Price Reaches New Highs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Stock_Split\" >Stock Split<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shopify_Market_Share_At_a_Glance\"><\/span><strong>Shopify Market Share: At a Glance&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overall_market_share\"><\/span>Overall market share<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shopify&#8217;s merchants account for more than 12% of online retail sales in the United States and more than 6% of online retail sales in Western Europe.<\/li>\n\n\n\n<li>Forrester Research recently named Shopify a leader in wholesale (B2B) commerce, a market that is three times larger than retail e-commerce. Shopify reported 140% growth in B2B gross merchandise volume in the fourth quarter.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yaguara_report\"><\/span>Yaguara report<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to <a href=\"https:\/\/www.yaguara.co\/shopify-market-share\/\" target=\"_blank\" rel=\"noopener\">Yaguara report in 2025<\/a>, here is Shopify&#8217;s market share data:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shopify ranked&nbsp;<strong>4th among the top 5 eCommerce platforms worldwide<\/strong>, with a&nbsp;<strong>market share of 10.32%<\/strong>.<\/li>\n\n\n\n<li>Shopify owns&nbsp;<strong>29% of the e-commerce platform market share in the United States<\/strong>.&nbsp;<\/li>\n\n\n\n<li>As per CMS usage data, Shopify owns&nbsp;<strong>6.7% of the CMS market share<\/strong>.<\/li>\n\n\n\n<li>Shopify currently powers&nbsp;<strong>4,628,418 active websites across the world<\/strong>.&nbsp;<\/li>\n\n\n\n<li>Shopify holds a&nbsp;<strong>23% share in the top 1M websites<\/strong>.&nbsp;<\/li>\n\n\n\n<li>Shopify beats WooCommerce with a&nbsp;<strong>19% market share among the top 100k websites<\/strong>.<\/li>\n\n\n\n<li><strong>62% of Shopify stores are US-based.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Flexible_strategy\"><\/span>Flexible strategy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Big_strategic_misstep\"><\/span>Big strategic misstep<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It also once expanded too quickly and made the wrong strategy by trying to spend a lot of money to build its own logistics team and rejected Amazon&#8217;s Buy with Prime. The company&#8217;s founder once admitted that he was too optimistic during the COVID-19 pandemic, believing that the pandemic had accelerated the development of e-commerce around the world by ten years.<\/p>\n\n\n\n<p>These were major mistakes in the company&#8217;s business strategy, so the company&#8217;s founder and management team took drastic measures: they quickly sold the logistics business unit that had required too much capital investment and accepted Amazon&#8217;s Buy with Prime policy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Refocus_on_the_e-commerce_shopping_experience\"><\/span>Refocus on the e-commerce shopping experience<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In addition, the company has returned to its area of \u200b\u200bexpertise: focusing on e-commerce merchants, expanding from small and medium-sized enterprises to large merchants; and sparing no effort to start from the perspective of consumers, optimize product platforms, smoothly integrate shopping processes, and provide the best e-commerce shopping experience. Embrace the latest artificial intelligence and let investors see the results through financial reports. These mistakes caused the stock price of Canada&#8217;s largest public company, once touted as Amazon&#8217;s only rival and Wall Street&#8217;s favorite, to plummet 85% from its peak during the COVID-19 pandemic!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reborn_from_the_ashes\"><\/span>Reborn from the ashes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>But those corporate strategy mistakes are now in the past. After a 10-for-1 stock split, Canada&#8217;s most valuable public company and largest technology company has risen from the ashes and delivered results that have convinced and satisfied investors. In some important e-commerce metrics, Shopify has surpassed Amazon.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shopify_surpassed_Amazon\"><\/span>Shopify surpassed Amazon<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"In_some_important_e-commerce_performance_index\"><\/span>In some important e-commerce performance index<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Amazon is the undisputed leader in retail e-commerce in the United States, but if you add up all the merchants using the Shopify platform, the picture would be shocking.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Comparison_on_revenue\"><\/span>Comparison on revenue<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For the fourth quarter of 2024:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Amazon&#8217;s quarterly revenue was $187.79 billion, up 10.47% year-over-year.<\/li>\n\n\n\n<li>Shopify&#8217;s quarterly revenue was $2.81 billion, up 31% year-over-year.<\/li>\n<\/ul>\n\n\n\n<p>It is obvious that in terms of company revenue, Amazon is far larger than Shopify. Starting this quarter, Amazon also defeated Wal-Mart for the first time and won the title of revenue among listed retail companies in the world.<\/p>\n\n\n\n<p>However, Shopify&#8217;s annual revenue growth rate is exactly three times that of Amazon, which means that Shopify is still growing rapidly; this is not easy because Shopify is a company with a market value of 150 billion US dollars and is no longer a small startup.<\/p>\n\n\n\n<p><strong>Note<\/strong>: In the fourth quarter of 2015, Shopify&#8217;s revenue was US$70.2 million, with an annual growth rate of 99%. In the fourth quarter of 2020, Shopify&#8217;s revenue was US$977.74 million, with an annual growth rate of 93.6%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GMV_Comparison\"><\/span>GMV Comparison<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the fourth quarter of 2024, the GMV of Shopify and Amazon is compared as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shopify&#8217;s gross merchandise volume (GMV) was $94.5 billion, while Amazon&#8217;s online stores and third-party sales were $123 billion.<\/li>\n\n\n\n<li>Although Shopify&#8217;s GMV has not yet caught up with Amazon, Shopify&#8217;s growth rate is much faster than Amazon&#8217;s &#8211; Shopify&#8217;s GMV annual growth rate is 26%; Amazon&#8217;s online GMV growth rate is about 7%, and Amazon&#8217;s third-party GMV growth rate is about 9%.<\/li>\n<\/ul>\n\n\n\n<p><strong>Please note<\/strong>: In terms of total GMV, the gap between the two is not that big. But in terms of the annual growth rate of GMV, the gap between the two is about three times. Do investors see the point? Tip: GMV is the most important indicator for measuring business performance for all e-commerce companies, and this is true for everyone.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shopifys_other_important_metrics\"><\/span>Shopify&#8217;s other important metrics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Other important Shopify metrics in the fourth quarter of 2024:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>International revenue and offline revenue increased by 33% year-on-year.<\/li>\n\n\n\n<li>B2B GMV grew by more than 140%.<\/li>\n\n\n\n<li>Shopify merchants serve 875 million shoppers worldwide.<\/li>\n\n\n\n<li>200 million shoppers worldwide use Shop Pay\u2019s services, and its GMV has increased by 50% year-on-year.<\/li>\n<\/ul>\n\n\n\n<p>In comparison, here are some statistics on how many people use Amazon\u2019s platform:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/seo.ai\/blog\/how-many-people-shop-on-amazon\" target=\"_blank\" rel=\"noopener\">Amazon has more than 315 million active users worldwide<\/a>, 80% of Amazon users are located in the United States.<\/li>\n\n\n\n<li>Amazon has more than 200 million Prime members worldwide.<\/li>\n\n\n\n<li>Nearly 98 million users log into Amazon at least once a month.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_indicators\"><\/span>Financial indicators<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Here are important financial indicators of Shopify as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In the fourth quarter of 2024, Shopify&#8217;s quarterly revenue was US$2.81 billion, a year-on-year growth rate of 31%.<\/li>\n\n\n\n<li>Operating profit in 2024 is $1.1 billion, and operating profit in 2023 is a loss of $1.4 billion.<\/li>\n\n\n\n<li>Generates $1.6 billion in free cash flow in 2024<\/li>\n<\/ul>\n\n\n\n<p>One thing is clear: Shopify&#8217;s profitability has improved dramatically, and that improvement is what makes it stand out. And since profitability has been one of Shopify&#8217;s weaknesses in the past few years, it has inspired investors to regain confidence in it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"OpenAIs_e-commerce_Partner\"><\/span>OpenAI&#8217;s e-commerce Partner<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As ChatGPT integrates with more and more e-commerce platforms, especially Shopify, it will have a greater impact on the existing landscape.<\/p>\n\n\n\n<p>Shopify is a natural partner for ChatGPT. It&#8217;s a SaaS ecosystem. Unlike Amazon, eBay, and others, its ecosystem comprises thousands of independent websites, forming a vast, decentralized landscape. In this context, Shopify doesn&#8217;t rely on a single, centralized portal to generate revenue through traffic distribution.<\/p>\n\n\n\n<p>Based on this logic, Shopify welcomes ChatGPT to surface products from its millions of independent websites and promote them to its vast user base. This means Shopify&#8217;s vast network of independent websites will provide a steady stream of funding for ChatGPT&#8217;s e-commerce business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_market_performance\"><\/span>Capital market performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Cap\"><\/span>Market Cap<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>With a market cap of $224.1 billion, it&#8217;s already a large-cap stock.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Valuation\"><\/span>Valuation <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>From 2025 to October 24th: Shopify currently has a P\/E ratio of 83 and a price-to-revenue ratio of 19.8, making it a typical overvalued growth stock. However, considering its current PEG ratio of approximately 1.12, it&#8217;s not considered high.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_Performance\"><\/span>Stock Performance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>From its IPO in May 2015 to October 24th, 2025, the stock price has risen by 6022%.<\/p>\n\n\n\n<p>The company&#8217;s stock price rose by 125% in 2023, 40% in 2024, and 69% between 2025 and October 24th.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_Price_Reaches_New_Highs\"><\/span>Stock Price Reaches New Highs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Shopify reached its all-time closing high of $169.06 on November 19, 2021. Nearly four years later, on October 24, 2025, it reached another all-time high.<\/p>\n\n\n\n<p>On October 13, 2022, Shopify&#8217;s stock price fell to $23.63, a drop of nearly 85% from its all-time high!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_Split\"><\/span>Stock Split<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Shopify&#8217;s stock underwent a 10-for-1 stock split on June 29, 2022.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"155\" height=\"90\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2025\/02\/Shop_beat_AMZN-Custom.jpg\" alt=\"Shopify has surpassed Amazon\" class=\"wp-image-34473\"\/><figcaption class=\"wp-element-caption\">credit: Ideogram<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/28\/shopify-surpassed-amazon\/\">Shopify surpassed Amazon in some important e-commerce metrics<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/21\/why-shopify-is-so-killing\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why Shopify is so killing?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/26\/shopify-the-only-rival-admitted-by-the-founder-of-amazon-how-does-it-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">Shopify, the only rival admitted by the founder of Amazon, how does it make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/02\/14\/discover-shopify-early\/\">Why is it difficult for investors to discover Shopify potential early?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/07\/12\/wix-website-building\/\">Wix, the leading brand of online website building<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/12\/booking-travel\/\">How does Booking, the lord of travel e-commerce, make money? Future Prospect Analysis<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/05\/28\/amazon-buy-mgm\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why Amazon acquired MGM?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/16\/amazon-vs-alibaba\/\" target=\"_blank\" rel=\"noreferrer noopener\">Amazon vs. Alibaba<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/10\/amazons-economic-scale\/\" target=\"_blank\" rel=\"noreferrer noopener\">Amazon\u2019s dominance by its economic scale, impact share price of PayPal, Affirm, Fair Isaac, Visa, and Mastercard<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/09\/12\/mercadolibre-keeps-delivery\/\" target=\"_blank\" rel=\"noreferrer noopener\">MercadoLibre that Amazon cannot beat. Why it keeps delivery?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/01\/02\/mercadolibre-introduction\/\" target=\"_blank\" rel=\"noreferrer noopener\">Latin America&#8217;s e-commerce dominant MercadoLibre<\/a><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/23\/4836\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sea, the parent company of Shopee, the most valuable company in Southeast Asia<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>After a 10-for-1 stock split, Canada&#8217;s most valuable public company and largest technology company has risen from the ashes and delivered results that have convinced and satisfied investors. In some important e-commerce metrics, Shopify surpassed Amazon.<\/p>\n","protected":false},"author":1,"featured_media":34473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[130],"tags":[227,6],"class_list":["post-34472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ecommerce","tag-amzn","tag-shop"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/34472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=34472"}],"version-history":[{"count":26,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/34472\/revisions"}],"predecessor-version":[{"id":39670,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/34472\/revisions\/39670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/34473"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=34472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=34472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=34472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}