Shopify Inc (SHOP)

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Shopify expects digital paradigm shift to be sticky

Nov. 20, 2020 12:39 PM ETShopify Inc. (SHOP)By: Clark Schultz, SA News Editor

Shopify (SHOP +2.7%) President Harley Finkelstein says the online retailer is gearing up for its busiest season of the year next weekend as demand stays red-hot during the pandemic.

Finkelstein thinks the pandemic accelerated e-commerce trends by ten years over the last eight months in a massive paradigm shift that he expects to continue.

Two importants trends with consumers are seen surviving on the Shopify platform after the vaccine is distributed.

"The first is they want to buy from independent brands and independent retailers whenever possible. Part of that is we all live in these cities and communities where on the other side of Covid we want to see small businesses still be around. The way we do that as consumers is we vote with our wallets to support them. The second piece is we've moved away from bargain basement deals and big discounting to more of this conscious consumerism, where we want to buy from retailers and brands whose values reflect our own."