Artificial intelligence is driving a new growth phase for the world's largest social media company.
E-commerce is now a permanent fixture on the retail landscape. Market research firm Research and Markets estimates this industry will reach $71 trillion in annual sales by 2028, taking its compound annual growth rate (CAGR) to 27% during that time. Although numerous companies across the retail landscape will benefit from this impressive growth, Amazon (NASDAQ: AMZN), MercadoLibre (NASDAQ: MELI), and Shopify (NYSE: SHOP) are particularly well-positioned to enrich investors.
It's hard to find a more noticeable shift among consumers in the past couple of decades than the growth of online shopping. The rise of the internet, coupled with the popularity of the smartphone and proliferation of digital payments, has resulted in a completely new industry that has registered rapid gains. Let's take a closer look at this secular trend.