Never Mind Amazon: This Digital Retailer Just Grew Revenue by 57%
After riding high during the pandemic-induced lockdowns, Amazon has fallen on hard times. The e-commerce pioneer grew revenue by just 9% in 2022, a far cry from its 44% growth in early 2021. The recent results were weighed down by its enormous size, decelerating growth, and economic headwinds. While there's certainly an argument that Amazon stock is still a buy, some investors are ready to move on.
Amazon isn't the only successful e-commerce platform, and those looking for a company with better growth prospects should take a look at MercadoLibre (NASDAQ: MELI). While the company isn't a household name in the U.S., it has rightfully earned the moniker of "the Amazon of Latin America." Net revenue soared 49% in 2022, but even that doesn't tell the whole story. Stripping out foreign currency movements, MercadoLibre grew revenue by 56.5% in the fourth quarter.
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Source Fool.com
