Want to Be a Millionaire? 2 Stocks to Buy and Hold for the Next Decade
According to eMarketer, consumers will spend $4.9 trillion shopping online this year, and that figure is expected to grow at an annualized rate of 10.7% to reach $7.4 trillion by 2025. Even then, e-commerce will represent just 25% of total retail spending, leaving plenty of room for future growth. That creates a significant opportunity for investors.
With that in mind, MercadoLibre (NASDAQ: MELI) and Shopify (NYSE: SHOP) have become key players in the e-commerce industry. Both businesses benefit from strong competitive positions, and I think both stocks could grow fourfold over the next decade, a pace that would turn $250,000 into $1 million.
Here's what you should know.
Source Fool.com
