This E-Commerce Powerhouse Just Stuck a Pin in the Downturn

Let's be honest: Last year was a tough one to be in the e-commerce business. A trifecta of tough comps, high inflation, and rising interest rates created a perfect storm of slowing growth and lukewarm demand for nearly every digital retailer -- and their stocks.

Two of the most popular examples help provide context. Net sales for Amazon increased just 9% year over year, but back out the results of Amazon Web Services -- its cloud computing business -- and revenue climbed an even more tepid 6%. At the same time, e-commerce platform and services provider fared slightly better, with revenue that rose 21%. 

Yet, what if I told you that a little-followed digital retailer grew its revenue by 49% last year -- and was profitable to boot? Plus, what if you learned that this company followed up that performance with an equally impressive start to 2023?

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Source Fool.com