By Matt McCallApr 24, 2017
It’s no secret that big-name brick-and-mortar retailers have struggled recently. Stores like J. C. Penney (JCP), Macy’s (M), Nordstrom (JWN) and Kohl’s (KSS) have reported a dip in sales while Amazon (AMZN), on the other hand, is still seeing double-digit gains.
Online sales in the United States are expected to reach $523 billion in the next five years, up 56% from jut $335 billion in 2015, mainly driven by purchases on mobile devices.
I like Amazon (AMZN), too, but that’s where everybody else is right now. Instead, I would look to a company like Shopify (SHOP), which will be one of the biggest winners in the space, as it provides an ecommerce platform to retailers and individuals who are selling their products online. The company currently powers more than 377,500 businesses in about 175 countries, and some of its customers include Tesla (TSLA), General Electric (GE) and Nestle.
SHOP has come close to doubling its annual revenue each year since 2013 – a truly remarkable feat – and I think that growth only continues from here. It’s a great example of a next-gen investment.
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