There's a Surprising New $100 Billion E-Commerce Company in Town, and Investors Should Pay Close Attention
It's no secret that Amazon is the e-commerce champion of the world. The company had $232 billion in online store sales in 2023. This is simply enormous. Consider that eBay is still one of the biggest e-commerce operations in the world as well, but its trailing-12-month gross merchandise volume of $73 billion doesn't even hold a candle to Amazon's scale.
E-commerce has been around for decades, and Amazon was an early pioneer in the space. But investors should resist the urge to think of e-commerce as a played-out trend. According to Statista, the global e-commerce market is expected to grow at a nearly 10% compound annual rate through 2028 -- that's massive for an industry already as big as it is.
Amazon and eBay are top e-commerce platforms and could very likely see a boost thanks to ongoing growth for the industry. However, there's a another major player in this space that investors shouldn't overlook.
Source Fool.com
