<p>這不僅僅是一家龐大的公司。<strong>亞馬遜</strong>(AMZN -4.05%) 也是全球最受推薦的股票之一。事實上，你很可能擁有它，或者至少在過去的某個時刻考慮過擁有它。這是有充分理由的。畢竟，它是電子商務的王者，至少在西半球是如此。</p>
<p>不過，如果你在尋找接入電子商務增長故事下一個篇章的最佳方式，可能還有更好的選擇。那就是 <strong>Shopify</strong>(SHOP -0.99%)，在許多方面，它與亞馬遜正好相反。這就是它如此吸引人的原因。</p>
<h2>相同，但（更）不同</h2>
<p>亞馬遜不僅主導了在線購物市場。它在很大程度上創造了這個市場，在 1990 年代末互聯網開始普及時，將這一理念大眾化。消費者喜歡 “萬物商店”，現在仍然如此。市場研究機構 eMarketer 估計，亞馬遜控制了大約 40% 的在線零售行業，這佔據了美國總零售支出的約 16%，根據美國人口普查局的數據。</p>
<p>然而，正如預期的那樣，受歡迎的購物網站的龐大規模和自助性質（既銷售又購買）帶來了挑戰。首要挑戰是每個賣家必須面對的競爭，包括亞馬遜本身。其次是在線賣家很難與客户建立深厚的關係；這些買家最終是亞馬遜的客户。</p>
<p>這時，Shopify 登場了。</p>
<p>簡單來説，Shopify 幫助組織建立和管理自己的電子商務存在。從數字購物車到支付處理，再到營銷和庫存管理（等等），這家公司幫助在線賣家獨立於像亞馬遜這樣龐大、冷漠且擁擠的在線商城運營。Nutriseed、Worldwide Cyclery 和 Florivera Skincare 只是一些依賴 Shopify 進行在線銷售的新興品牌。通過 Shopify，這些品牌能夠提供消費者日益渴望的個性化體驗和真實性。</p>
<p>波士頓諮詢集團報告稱，約 80% 的美國消費者現在期望在商業交易中至少有一定程度的個性化體驗。</p>
<p>像亞馬遜這樣的平台根本無法為賣家或買家提供這種有意義的選擇。</p>
<h2>過去和預測的增長</h2>
<p>數字證實，越來越多的公司依賴 Shopify 所帶來的替代方案。在截至 12 月的三個月中，這家公司的技術促進了 697 億美元商品和服務的銷售，同比增長 24%。這轉化為近 22 億美元的收入，同比增長 26%，延續了自 2006 年推出以來的趨勢。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e2cb874dc73dd6d45842e6485bfa0d3.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e2cb874dc73dd6d45842e6485bfa0d3.png"/></p>
<p>SHOP 收入（季度）數據來源於 YCharts</p>
<p>不過，這仍然只是個開始。</p>
<p>你看，儘管 Shopify 增長迅速，但它仍然只是觸及了機會的表面。人口普查局報告稱，美國的電子商務市場每年的價值略超過 1.1 萬億美元，而整個零售行業的年銷售額超過 7 萬億美元。隨着這部分業務仍在向線上轉移——並且還有很多空間可以這樣做——市場研究機構 Oberlo 預測，美國電子商務市場到 2028 年將以約 9% 的年均增速增長。對於感興趣的投資者來説，隨着越來越多的賣家意識到他們有可行的替代方案，分析師社區預計 Shopify 將贏得更多的增長，繼續以接近當前的速度增長。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDY4MzcvMDIwNzI1LXNob3BpZnktcmVzdWx0cy5wbmcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDY4MzcvMDIwNzI1LXNob3BpZnktcmVzdWx0cy5wbmcmdz03MDA"/></p>
<p>數據來源：StockAnalysis.com。圖表由作者提供。</p>
<p>在美國的電子商務平台中，Shopify 控制了近三分之一的市場，儘管類似的動態在國際上也適用，Shopify 正在獲得市場份額。它聲稱自己佔據了海外電子商務技術業務的約十分之一。</p>
<h2>值得溢價的價格</h2>
<p>這些並不是説亞馬遜完全無力阻止當前和潛在的賣家註冊使用 Shopify。它正在應對這一威脅。例如，亞馬遜減少了對第三方賣家熱銷產品的模仿，讓其合作伙伴享受更多應得的銷售。它還向賣家提供生成性人工智能工具，以便他們能夠更快地創建和管理自己的商品列表。</p>
<p>Shopify 的股票也很昂貴，價格超過去年的預期收益的 90 倍，以及今年預期每股利潤 1.54 美元的 70 倍以上。這可能限制了該股票短期內的上漲潛力，更不用説引發高於平均水平的波動性。</p>
<p>但這也是一個增長如此強勁且不可避免的案例，以至於市場支持溢價估值。</p>
<p>換句話説，儘管從 2022 年的低點上漲了 350% 可能令人畏懼，但可以説，股票仍然有更多空間繼續這一反彈。獨立管理的電子商務平台正是在線購物行業日益發展的方向。Shopify 的廣泛和深度的產品意味着無論客户需要什麼，它都能從中獲利。</p>

SHOP

<p>這篇文章討論了 Shopify 作為電子商務增長的一個有吸引力的替代選擇的潛力。儘管亞馬遜主導着在線零售市場，但 Shopify 提供個性化的電子商務解決方案，幫助賣家建立自己的品牌。Shopify 的收入顯著增長，年同比增長 26%，預計將佔據越來越多的美國電子商務市場。儘管其估值較高，但 Shopify 強勁的增長前景使其成為一個有吸引力的投資選擇</p>

<p>It's not just an enormous company. <strong>Amazon</strong>(AMZN -4.05%) is also one of the world's most recommended stocks. There's a good chance you own it, in fact, or have at least considered owning it at some point in the past. And for good reason. After all, it's the king of e-commerce, at least in the Western Hemisphere.</p>
<div class="lb-trans"><p>這不僅僅是一家龐大的公司。<strong>亞馬遜</strong>(AMZN -4.05%) 也是全球最受推薦的股票之一。事實上，你很可能擁有它，或者至少在過去的某個時刻考慮過擁有它。這是有充分理由的。畢竟，它是電子商務的王者，至少在西半球是如此。</p>
</div><p>If you're looking for the best way to plug into the next chapter of e-commerce's growth story though, there may be a better option. That's <strong>Shopify</strong>(SHOP -0.99%), which in many ways is the opposite of what Amazon is. That's why it's such a compelling prospect.</p>
<div class="lb-trans"><p>不過，如果你在尋找接入電子商務增長故事下一個篇章的最佳方式，可能還有更好的選擇。那就是 <strong>Shopify</strong>(SHOP -0.99%)，在許多方面，它與亞馬遜正好相反。這就是它如此吸引人的原因。</p>
</div><h2>The same, but (much more) different</h2>
<div class="lb-trans"><h2>相同，但（更）不同</h2>
</div><p>Amazon doesn't just dominate the online shopping market. It largely created it, mainstreaming the idea back in the late 1990s when access to the internet was first becoming commonplace. Consumers loved &#34;the everything store,&#34; and still do. Market research outfit eMarketer estimates Amazon controls roughly 40% of the online the retailing industry, which accounts for about 16% of the nation's total retail spending, according to numbers from the U.S. Census Bureau.</p>
<div class="lb-trans"><p>亞馬遜不僅主導了在線購物市場。它在很大程度上創造了這個市場，在 1990 年代末互聯網開始普及時，將這一理念大眾化。消費者喜歡 “萬物商店”，現在仍然如此。市場研究機構 eMarketer 估計，亞馬遜控制了大約 40% 的在線零售行業，這佔據了美國總零售支出的約 16%，根據美國人口普查局的數據。</p>
</div><p>As might have been expected, however, the sheer size and the self-service nature (selling as well as buying) of the popular shopping website has presented challenges. Chief among them is the amount of competition every seller must contend with, including Amazon itself. A close second is the fact that it's difficult for an online seller to cultivate a deep relationship with a customer; these buyers are ultimately Amazon's customers.</p>
<div class="lb-trans"><p>然而，正如預期的那樣，受歡迎的購物網站的龐大規模和自助性質（既銷售又購買）帶來了挑戰。首要挑戰是每個賣家必須面對的競爭，包括亞馬遜本身。其次是在線賣家很難與客户建立深厚的關係；這些買家最終是亞馬遜的客户。</p>
</div><p>Enter Shopify.</p>
<div class="lb-trans"><p>這時，Shopify 登場了。</p>
</div><p>Simply put, Shopify helps organizations build and manage their own e-commerce presence. From digital shopping carts to payment processing to marketing to inventory management (and more), this company helps online sellers operate independently of huge, impersonal, and crowded online malls like Amazon. Nutriseed, Worldwide Cyclery, and Florivera Skincare are just some of the up-and-comers that rely on Shopify to sell online. With Shopify, these brands are able provide the personalized experience and authenticity that consumers increasingly crave.</p>
<div class="lb-trans"><p>簡單來説，Shopify 幫助組織建立和管理自己的電子商務存在。從數字購物車到支付處理，再到營銷和庫存管理（等等），這家公司幫助在線賣家獨立於像亞馬遜這樣龐大、冷漠且擁擠的在線商城運營。Nutriseed、Worldwide Cyclery 和 Florivera Skincare 只是一些依賴 Shopify 進行在線銷售的新興品牌。通過 Shopify，這些品牌能夠提供消費者日益渴望的個性化體驗和真實性。</p>
</div><p>Boston Consulting Group reports that around 80% of U.S. consumers now expect at least some degree of personalization experience when doing business.</p>
<div class="lb-trans"><p>波士頓諮詢集團報告稱，約 80% 的美國消費者現在期望在商業交易中至少有一定程度的個性化體驗。</p>
</div><p>A platform like Amazon's just can't meaningfully offer this option to sellers, or to buyers.</p>
<div class="lb-trans"><p>像亞馬遜這樣的平台根本無法為賣家或買家提供這種有意義的選擇。</p>
</div><h2>Growth, past and projected</h2>
<div class="lb-trans"><h2>過去和預測的增長</h2>
</div><p>And the numbers confirm that companies are increasingly relying on the alternative that Shopify brings to the table. For the three-month stretch ending in December, this company's tech facilitated the sale of $69.7 billion worth of goods and services, up 24% year over year. That translates into nearly $2.2 billion worth of revenue, up 26% year over year, extending a trend that's been in place since its 2006 launch.</p>
<div class="lb-trans"><p>數字證實，越來越多的公司依賴 Shopify 所帶來的替代方案。在截至 12 月的三個月中，這家公司的技術促進了 697 億美元商品和服務的銷售，同比增長 24%。這轉化為近 22 億美元的收入，同比增長 26%，延續了自 2006 年推出以來的趨勢。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e2cb874dc73dd6d45842e6485bfa0d3.png" alt="" original-src="https://media.ycharts.com/charts/1e2cb874dc73dd6d45842e6485bfa0d3.png"/></p>
<p>SHOP Revenue (Quarterly) data by YCharts</p>
<div class="lb-trans"><p>SHOP 收入（季度）數據來源於 YCharts</p>
</div><p>This is still just the beginning, though.</p>
<div class="lb-trans"><p>不過，這仍然只是個開始。</p>
</div><p>See, as much as Shopify's grown, it's still only scratched the surface of the opportunity. The Census Bureau reports the United States' e-commerce market alone is worth a little more than $1.1 trillion per year, while the nation's entire retail industry collectively does over $7 trillion in annual sales. With much of this business still moving online -- and plenty of room for it to do so -- market researcher Oberlo predicts the U.S. e-commerce market will grow at an average annual pace of about 9% through 2028. More to the point for interested investors, as more and more sellers recognize they've got viable alternatives to Amazon, the analyst community expects Shopify to win more of this growth to continue growing close to its current pace.</p>
<div class="lb-trans"><p>你看，儘管 Shopify 增長迅速，但它仍然只是觸及了機會的表面。人口普查局報告稱，美國的電子商務市場每年的價值略超過 1.1 萬億美元，而整個零售行業的年銷售額超過 7 萬億美元。隨着這部分業務仍在向線上轉移——並且還有很多空間可以這樣做——市場研究機構 Oberlo 預測，美國電子商務市場到 2028 年將以約 9% 的年均增速增長。對於感興趣的投資者來説，隨着越來越多的賣家意識到他們有可行的替代方案，分析師社區預計 Shopify 將贏得更多的增長，繼續以接近當前的速度增長。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDY4MzcvMDIwNzI1LXNob3BpZnktcmVzdWx0cy5wbmcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F806837%2F020725-shopify-results.png&amp;op=resize&amp;w=700"/></p>
<p>Data source: StockAnalysis.com. Chart by author.</p>
<div class="lb-trans"><p>數據來源：StockAnalysis.com。圖表由作者提供。</p>
</div><p>Credit market-leading control of nearly one-third of the United States' e-commerce platforms, mostly, although similar dynamics apply internationally, where Shopify is gaining traction. It claims about one-tenth of the overseas e-commerce tech business for itself.</p>
<div class="lb-trans"><p>在美國的電子商務平台中，Shopify 控制了近三分之一的市場，儘管類似的動態在國際上也適用，Shopify 正在獲得市場份額。它聲稱自己佔據了海外電子商務技術業務的約十分之一。</p>
</div><h2>Worth the premium price</h2>
<div class="lb-trans"><h2>值得溢價的價格</h2>
</div><p>None of this is to suggest Amazon is completely powerless to discourage current and prospective sellers from signing up to sell with Shopify. It is responding to the threat. For example, Amazon dialed back the copycatting of its third-party sellers' top-selling products, letting its partners enjoy more of the sales they deserve. It's also offering generative artificial intelligence tools to its sellers so they can create and manage their listings faster.</p>
<div class="lb-trans"><p>這些並不是説亞馬遜完全無力阻止當前和潛在的賣家註冊使用 Shopify。它正在應對這一威脅。例如，亞馬遜減少了對第三方賣家熱銷產品的模仿，讓其合作伙伴享受更多應得的銷售。它還向賣家提供生成性人工智能工具，以便他們能夠更快地創建和管理自己的商品列表。</p>
</div><p>Shopify stock is also expensive, priced at more than 90 times last year's likely earnings and more than 70 times this year's expected per-share profit of $1.54. This can limit the stock's near-term upside potential, not to mention fuel above-average volatility.</p>
<div class="lb-trans"><p>Shopify 的股票也很昂貴，價格超過去年的預期收益的 90 倍，以及今年預期每股利潤 1.54 美元的 70 倍以上。這可能限制了該股票短期內的上漲潛力，更不用説引發高於平均水平的波動性。</p>
</div><p>But this is also one of those cases where growth is so strong and so inevitable that the market supports a premium valuation.</p>
<div class="lb-trans"><p>但這也是一個增長如此強勁且不可避免的案例，以至於市場支持溢價估值。</p>
</div><p>In other words, as intimidating as the 350% run-up from 2022's low may be, there's still arguably more room for shares to continue this rally. Independently managed e-commerce platforms are where the online shopping industry is increasingly going. Shopify's breadth and depth of offerings mean it can monetize this demand no matter what its clients need.</p>
<div class="lb-trans"><p>換句話説，儘管從 2022 年的低點上漲了 350% 可能令人畏懼，但可以説，股票仍然有更多空間繼續這一反彈。獨立管理的電子商務平台正是在線購物行業日益發展的方向。Shopify 的廣泛和深度的產品意味着無論客户需要什麼，它都能從中獲利。</p>
</div>

Should You Forget Amazon? Why You Might Want to Buy This Unstoppable Growth Stock Instead

- 亞馬遜在電商領域佔據約 40% 的市場份額，推動了在線零售的發展。  
- Shopify 提供獨立電商解決方案，幫助賣家與消費者建立個性化關係。  
- 預計美國電商市場將以每年約 9% 的速度增長，Shopify 有望持續受益。

你應該忘記亞馬遜嗎？為什麼你可能會想購買這隻勢不可擋的成長股