I’ve been thinking a lot about Square and Shopify. Shopify has been endlessly promoted by TMF and it makes me question why I don’t own it any more. But then I start to think about Shopify in comparison to Square.
Who are Shopify’s clients? SMBs
Who are Square’s clients? SMBs
How are their clients different? Shopify’s clients are selling something physical. Even if it is an ebook, they are selling a tangible product.
Square’s clients also may be something physical, though with square the sales are generally happening off-line. But Square also taps service business. Mechanics, carpenters, plumbers, restaurants, bars, medical practitioners, hairdressers, nannies, consultants, lawyers, the list can go on.
There is some cross pollination. Square offers e-commerce. Shopify offers point of sale. But I just can’t shake the feeling that Square’s total market is much bigger than Shopify’s market.