There’s a shift happening in the world of commerce, and we’ve all felt it.

2020 has accelerated the industry by a decade, permanently altering the way entrepreneurs start, run, and grow businesses, as well as how consumers choose to shop and pay. We’re on the brink of a new era of commerce.

Consider this report your crystal ball into the future of this industry.

Commerce is more than a transaction; it’s an interaction. It’s a relationship between a business and its customers. That’s why we pored over data from more than one million merchants on Shopify and collected survey insights from consumers all over the world to get the full picture of what’s coming.

We’ve unlocked five key predictions based on the trends we’re seeing from our data. Spoiler alert: be prepared for independent retailers and the next generation of consumers to change commerce as we know it forever.