SHOP - The w[E]ed-[Commerce] solution from CANADA So you should know this buy now
www.cbc.ca
And if you are from Ontario and over 19 years old, I bet you also know what happens on October 17, 2018.
www.ontario.ca
Shopify Inc. (Nasdaq: SHOP) is a company that’s about to make billions from the end of marijuana prohibition without ever touching the leaf.
It’s the online retailer – not Amazon.com Inc. (Nasdaq: AMZN) – that just inked a contract to provide an e-commerce platform for a major Canadian cannabis retailer.
You see, when Canada goes fully legal later in summer 2018, pot companies will want to sell (and their customers will want to buy) their wares online. Makes sense.
And the great news for investors in Shopify? The Ontario Cannabis Retail Corp. (OCRC) – the government agency in charge of sales in the province – is relying on Shopify, and only Shopify, to make it happen.
That’s going to be a huge boon for cannabis investors. Ontario is home to 13.6 million people, with bustling Toronto and its financial sector at the heart of the province.
That’s the perfect place to begin cashing in on Canada’s legal weed market, which Deloitte says could hit $8.7 billion over the next few years.
But that’s really just the beginning for Shopify.
This tech-forward company develops the kind of sophisticated software that allows small retailers to plug into e-commerce platforms like Amazon and sell their stuff.
With Shopify’s platform, they can manage orders, collect sales dollars, and send out emails to buyers. Or, if they prefer to go it alone, Shopify can help small retailers build their own online storefront, handle multiple sales channels, and plug into social media for customer outreach.
That business model alone qualifies this as a solid choice for investors. Its sales grew an average 85% over the past three years, compared to 26% growth for Amazon during that stretch.
Now, OCRC has picked to exclusively use Shopify’s e-commerce platform for cannabis sales online. Shopify’s technology will also be used inside OCRC’s Ontario Cannabis Stores to process transactions and for digital kiosks displaying product information.
And Ontario is just the “first mover” here. Many of Canada’s other nine provinces are likely to follow the leader here in choosing the home-grown Shopify (which is based in Ottawa) as their e-commerce partner.
That could double Shopify’s total market opportunity there.
In fact, Quebec province-based grower Hydropothecary Corp. has already chosen Shopify to help it sell medical marijuana online.
Thanks to moves like the OCRC deal, Shopify’s total addressable market stands to exceed $50 billion…
As a side note, just imagine if they integrate cryptocurrencies
