If you are seeking to ride the wave of e-commerce growth, these three stocks are essential to your investment portfolio. Tethered to the ground is brick and mortar retail, struggling in the wake of technological advancements.

Despite pandemic constraints lifting, the outlook for a retail turnaround is bleak. Our lives are entwined with the internet and smartphones, forging a pathway that leads to immense convenience in retail. This duo of technology and connectivity has significantly boosted the e-commerce sector.

Projections anticipate a 9.5% annual increase in e-commerce revenues over the next four years. The numbers are compelling, signaling that betting on e-commerce stocks is a prudent choice. While the e-commerce field is teeming with diversity, a few notable players stand like giants. Investing in these firms is a strategic move. However, there are other global contenders worthy of consideration. Let’s delve into their worlds.

Amazon (AMZN)

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Amazon (NASDAQ:AMZN) towers over the e-commerce landscape as the unrivaled global leader. Omitting Amazon from any e-commerce stock list would be sacrilegious. But just how vast is its empire?

Total sales soared to $574.8 billion in 2023, marking a 12% surge from the previous year. Yet, this figure encompasses more than just e-commerce, with substantial contributions arising from Amazon’s AWS Cloud and other ventures. Notably, Amazon raked in $412.1 billion in online sales during 2023.

To grasp Amazon’s enormity, ponder this: Prime subscriptions generated over $40 billion in revenues in 2023, alone dwarfing many standalone retailers in size. This colossal stature dispels any doubts surrounding its growth potential. Evidenced by nearly doubling its e-commerce business between 2019 and 2023, Amazon remains the quintessential choice for e-commerce investors.

MercadoLibre (MELI)

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MercadoLibre (NASDAQ:MELI) emerges as another heavyweight in the e-commerce sphere, often drawing comparisons to Amazon. Dominating the Latin American market spanning from Mexico to Argentina, MercadoLibre has skyrocketed its stock value.

A blend of e-commerce mastery and fintech prowess defines MercadoLibre. The company witnessed a 42% overall revenue surge in the latest quarter. Standing out as a rare entity, Mercado Libre commands its region while undergoing explosive growth. Noteworthy, its fintech arm saw a remarkable 57% spike in payments volume in Q4. The rapid expansion of Mercado Pago has been a catalyst in attracting customers and fuelling substantial growth.

In 2023, the company engaged nearly 85 million unique buyers. Though some fret over MercadoLibre’s growth limitations due to demographic shifts in Latin America, there exists plenty of untapped markets awaiting its reach.

Walmart (WMT)

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Walmart (NYSE:WMT) evokes images of traditional retail over e-commerce, yet it stands as a formidable contender against Amazon in the retail domain. This rivalry extends to the battleground of e-commerce.

Walmart has made significant strides in e-commerce. In 2023, e-commerce sales broke the $100 billion barrier for the first time. Within the U.S., online sales surged by 17% in the 4th quarter at Walmart, while global online sales recorded a 23% growth during the same period.

The number of Walmart marketplace sellers escalated by 20% concurrently. This uptrend underscores its competitive edge against Amazon, traditionally a magnet for marketplace sellers.

As Walmart transforms into a more e-commerce-centric entity, it continues to dominate traditional retail, asserting its reign as the largest U.S. grocer. A well-rounded stock, Walmart beckons e-commerce investors to consider its potential.

On the publication date, Alex Sirois did not hold any positions in the securities mentioned. The views expressed are solely of the author, adhering to InvestorPlace.com’s editorial standards.