Is Global-E Online the Next Shopify?
As we've all learned this year, e-commerce is now an essential tool for almost every retailer. There are many benefits to using e-commerce for your business, but the biggest might be the capabilities to sell to anyone in the world, as long as they are also connected to the internet. However, selling goods internationally can be difficult for most retailers due to local taxes, language barriers, and currency translations. The recently IPOed Global-E Online (NASDAQ: GLBE) is looking to help retailers solve this problem with its end-to-end cross-border solutions. But does Global-E Online have what it takes to be a top-performing e-commerce stock like Shopify (NYSE: SHOP)?
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Global-E Online helps other merchants easily sell goods to international customers. It acts as the "merchant of record" for the companies, handling all the complications of selling from one country to another. This includes handling local languages, local import taxes, currencies, and deliveries for its retail partners. As a retailer, building these solutions would be very difficult on your own. However, since most of the processes are the same no matter what you are selling, Global-E can build these software solutions once and sell them over and over to retailers who want them.
Source Fool.com
