E-Commerce Penetration

The share of total retail that happens online — the secular growth curve that underwrites nearly all of Kyle’s e-commerce work. He logged it as a tag in his Roam Deep Dives research (in the E-Commerce Tech Roll-Up / Shopify bucket), and it’s the opening premise of his E-Commerce notes: ”% of retail moving online each year and how it’s growing” and “infrastructure to support that.”

The thesis chain: as penetration rises, the merchant base and the volume flowing through platforms like Shopify grow with it, which expands the surface area for the picks-and-shovels tooling and the seller-software consolidation behind the E-Commerce Tech Roll-Up idea.

Where this appears

• E-Commerce — the growth premise (”% of retail moving online each year and how it’s growing”).
• E-Commerce Tech Roll-Up — the rising tide that grows the roll-up’s addressable base.
• Shopify — the platform whose TAM scales with penetration.