1 E-Commerce Stock Ready to Pummel the Market in 2023
E-commerce is one of the largest, fastest-growing industries worldwide. The global e-commerce market is expected to hit $5.7 trillion in 2022, which is a massive increase from the $572 billion worldwide spend in 2010. By 2023, Shopify analysts expect 20.8% of retail sales to come from online purchases, which will grow to 23% by 2025. Even with fortunes already made through early e-commerce leaders like Amazon, there is still a gigantic opportunity for companies to win the race for consumer spending online.
Within the e-commerce space, there's one stock I like more than others: a South Korean online retailer named Coupang (NYSE: CPNG). Here's why this e-commerce company is set to crush the market in 2023 and beyond.
Many companies claim to be the "Amazon of X" due to the Seattle conglomerate's massive success over the past few decades. However, few can actually live up to these claims. Coupang is one of them. With a customer-centric approach to online commerce, Coupang has rapidly grown into the e-commerce leader in South Korea since launching its site a little over a decade ago. It now has almost 18 million active customers, who spend an average of $284 each quarter through its various services.
Source Fool.com
