Investors may have expected e-commerce to slow down after the global pandemic.
However, this has not been the case.
According to EMarketer, global e-commerce sales grew from US$4.98 trillion to US$5.82 trillion from 2021 to 2023, showing no signs of slowing down.
This trend is underscored by Amazon’s (NASDAQ: AMZN) first-quarter beat in fiscal year 2024 (FY2024), where net sales increased 13% year on year to US$143.3 billion, clearly indicating that e-commerce is here to stay.
Net profit leapt to US$10.4 billion, 225% higher than the prior year.
In line with its strong financial performance, Amazon’s share price has increased by 25% year to date.
However, it is not the only e-commerce player riding this trend.
We will look at three other e-commerce stocks that have displayed significant growth this year.
JD.com (NASDAQ: JD)
JD.com (JD) is a major e-commerce company based in China.
The company’s stock has jumped over 22% this year, comparable to Amazon’s share price gain....