Shopify Inc. (NYSE: SHOP)

Shopify (NYSE: SHOP) provides a cloud-based multi-channel commerce platform for small and medium-sized businesses that helps them set up and run their own customizable online shops.

With the global Covid-19 pandemic triggering worldwide growth in the e-commerce market, Shopify did see a significant uptick in revenue.

The company’s second quarter sales were up 97% year-over-year to a record $714.3 million…smashing its previous best quarter of $505.2 million in the fourth quarter of 2019.

Again, there’s no question that Covid-19 had a significant impact on consumer behavior in 2020 and likely led to higher demand for services such as Shopify’s.

The question moving forward for Shopify is twofold: first…how much longer will the Covid-19 pandemic have such a significant impact on consumer behavior, and second…will consumer behavior ultimately be changed in a permanent way.

Company management – and many observers – believe that the answers to both questions are in Shopify’s favor. The momentum that has been generated in online retail is likely to continue for the foreseeable future.

On Shopify’s second quarter earnings call, COO Harley Finkelstein said that the pandemic has “introduced major changes in buyer behavior and pulling forward what retail would look like in 2030 into 2020.”