E-commerce growth story

Wix.com (NYSE: WIX) is a top e-commerce platform helping small businesses around the world unlock online capabilities such as ordering food for delivery, consulting with a professional service via chat or video, purchasing and consuming entertainment, and new product search and discovery.

Wix’s no-code website-building business has had a busy 2021 so far. Early in the year it said it had surpassed 200 million registered users, a figure that’s still growing.

Wix is now turning its focus to premium features, its fastest-growing segment, which it reports as “Business Solutions.” In its first quarter, revenue generated by this unit accounted for only about one-quarter of the company’s total, but it grew 97% year over year.

A slew of new capabilities have been launched to further bolster this part of Wix’s platform. The company acquired a small gift card and customer reengagement company as well as a supplier marketplace and dropshipping firm to round out its online selling and order fulfillment offerings. A new point of sale, or POS, system was also unveiled, giving Wix users the ability to accept payments in person. And a new mobile app helps restaurants build their own sites so patrons can browse menus and place orders on the go.

This is a promising tech business with great longterm potential from its hundreds of millions of smallbusiness users. (The Motley Fool owns shares of and has recommended Wix.com.)