For years, Shopify (NYSE: SHOP) and (NYSE: WMT) were very different companies. Both were involved in commerce, but Shopify was completely focused on e-commerce, while Walmart's business was heavily dominated by brick-and-mortar sales.

Today, both companies are competing more directly than ever. Shopify still retains its e-commerce focus, but Walmart has invested hundreds of millions of dollars to bolster its digital sales channels. So far, Walmart's bet appears to be paying off.

With both stocks capable of strong growth in 2024 and beyond, which is a better buy right now?

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Source Fool.com