3 Top E-Commerce Stocks -- Not Named Amazon
There's no denying that Amazon is the undisputed king of e-commerce. The company -- which started life as an online book seller -- controlled 44% of the e-commerce market in the U.S. in 2019, up from 40% in 2018, according to estimates compiled by Bank of America. In the most recent quarter, that translated to net revenue for Amazon of $89 billion, up 40% year over year. However, while it's still the leader, it's no longer the only game in town.
The pandemic has caused a groundswell in the adoption of digital commerce with consumers shopping for everything from home goods to groceries and furniture, resulting in an acceleration of online purchases. According to figures just released by the Department of Commerce, e-commerce sales in the second quarter surged 44% year over year and 37% sequentially, accounting for 15% of total retail.
A rising tide lifts all boats, or so the saying goes. Let's look at three other companies that are growing their e-commerce sales much faster than Amazon.
Source Fool.com
