DoorDash DASH and Shopify SHOP are major players in the e-commerce space. While DASH dominates food delivery with its restaurant partnerships and expanding grocery delivery services, Shopify is growing its presence in the e-commerce domain by offering user-friendly tools and an extensive app marketplace.
Per the Mordor Intelligence report, the e-commerce market size is estimated to be $31.22 trillion in 2025. It is expected to reach $73.47 trillion by 2030, with a compound annual growth rate of 18.67% during the period from 2025 to 2030. Both DoorDash and Shopify are expected to benefit from this rapid growth pace.
DoorDash or Shopify — Which of these e-commerce stocks has the greater upside potential? Let’s find out.
DoorDash is benefiting from the growing consumer demand for e-commerce and local delivery services, which has led to a significant uptick in its e-commerce growth.
The company is consistently investing in expanding its partner base to provide express grocery delivery for consumers, a new offering that further solidifies its position among other on-demand delivery platforms. Its focus on local commerce also positions it as a key player in the broader on-demand delivery ecosystem. This has boosted DoorDash’s total orders and marketplace GOV.
In the third quarter of 2025, total orders increased 21% year over year to 776 million. Marketplace GOV increased 25% year over year to $25 billion, reflecting strong demand across platforms.
One of the major contributors to DoorDash’s e-commerce growth is its expansion into new verticals, such as grocery, convenience, alcohol, and retail. The company has been adding top grocers like Kroger and local grocery stores to its platform, solidifying its position as a leader in order volume and customer acquisition in the grocery delivery space.
As DASH keeps improving and investing in its platform, Marketplace GOV will remain a key growth driver of its financial performance. For the fourth quarter of 2025, DoorDash expects Marketplace GOV to be between $28.9 billion and $29.5 billion.
Shopify is benefiting from robust growth in its merchant base. Merchant solutions revenues in the third quarter were $2.15 billion and accounted for 75.4% of Shopify’s total revenues. New merchant-friendly tools like Shop Minis, Shop Cash, and Sign in with Shop, along with Shop Pay solutions, are helping SHOP win merchants regularly.
The company is leveraging AI to transform commerce. Its AI-driven tool Sidekick is an AI-powered assistant that helps merchants operate smarter by automating tasks, analyzing data, and improving efficiency.
In the third quarter of 2025, Sidekick has been adopted by more than 750,000 shops and has had nearly 100 million conversations with merchants. Shopify has also developed tools like Catalog, Universal Cart, and Checkout Kit to make shopping seamless across merchant stores.
Shopify is also increasingly attracting large enterprise brands, including Estee Lauder, Michael Kors, David’s Bridal, and e.l.f. cosmetics. These brands are choosing Shopify for its scalability, unified commerce solutions, and ability to handle complex operations. This has strengthened SHOP’s position in the e-commerce space.
