There's no denying the age of e-commerce is upon us. The significant retail disruption that accompanied the pandemic was an eye-opener for some merchants. Those that didn't yet offer a digital storefront could procrastinate no longer and needed help getting online immediately.
On this episode of Fool Live that aired on Nov. 30, 2020, Fool.com contributor Danny Vena discuss the breadth of Shopify's (NYSE:SHOP) business and why that bodes well for the future.
Danny Vena: One of the things about Shopify is that it really has something for everyone. That's become quite a bit of a cliché in business, a company who has something for everyone.
But that actually is the case with Shopify. What I'm going to do is I'm going to share my screen here. Stealing from Shopify's investor deck here to illustrate the point.
But if you look at what Shopify has for entrepreneurs, and this could be a mom-and-pop shop, somebody who just has a small business. They want to get online, they want to sell their widgets, and that's a technical accounting term. Widgets is a catch-off for basically anything that you want to sell. They have plans starting at just $29 a month.
But it doesn't stop there. They have plans that cater to every level of business. For small and medium-sized businesses, Shopify has plans at $79 a month. It has advanced plans for $299 a month, and then it has Shopify Plus. Let me get into what that is.
If you are a company that is a big mega business, if you are a large corporation, and you are doing well in your own right, but you also want to get online, but you don't want to spend the time, you don't want your IT department to spend the time and trouble necessary to reinvent the wheel and get your business more fully integrated online. You can use Shopify Plus, which, it caters to enterprise-level businesses, and actually expand your online presence. They have plans for these enterprise businesses that started $2,000 or more per month.
When I say that they have something for everyone, it starts from just a small, mom-and-pop shop who basically want to try out the internet, for small to medium-sized businesses which is really Shopify's bread and butter, and where they have made the majority of their impact. Then they also have larger brands.
This really goes to show that Shopify can help any business regardless of their size, regardless of their industry, help them to set up an online presence and maintain it. Particularly in a period like we're in now, where people had to do that hard pivot and move online because the survival of their business depended on it.