Top 10 e-commerce stocks to watch in 2026

The companies in this list sell goods directly to consumers online, run marketplaces where third-party merchants trade, or build the software that powers other businesses' stores – and the biggest names tend to combine more than one of these. Amazon.com ($AMZN) leads this list by market cap, at more than three times the size of the next-largest name here, Walmart ($WMT), while Shopify ($SHOP) takes a different approach entirely, building commerce infrastructure for other merchants rather than selling to shoppers directly.

How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in US$. Data updated as of 1 September 2026.

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1. Amazon.com ($AMZN)

Amazon.com (AMZN) share price over the last year: started at US$225.34, ended at US$254.92, a change of +13.1%. Range over the period: high US$284.02, low US$198.79. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$254.92 · Daily: -1.9% · Market cap: US$2.80T · Sector: Consumer Discretionary · Industry: Retail Stores

Amazon.com ($AMZN) runs its stores as both a direct retailer and a marketplace where third-party merchants sell alongside Amazon's own inventory. Customers reach $AMZN through websites, mobile apps, Alexa-enabled devices, and physical stores. The company also develops and sells consumer hardware – Kindle e-readers, Fire tablets, Fire TV streaming devices, Echo speakers, and home security products under the Ring and Blink brands.

Away from retail, $AMZN operates Amazon Web Services (AWS), which supplies on-demand computing, storage, database, analytics, and machine learning tools to developers, businesses, government agencies, and academic institutions. AWS is its own reporting segment, sitting alongside the North America and International retail divisions. CEO Andrew Jassy leads a global workforce of 1,576,000 people across all three.

2. Walmart ($WMT)

Walmart (WMT) share price over the last year: started at US$97.85, ended at US$105.92, a change of +8.2%. Range over the period: high US$134.20, low US$97.85. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$105.92 · Daily: 1.0% · Market cap: US$832.01B · Sector: Consumer Staples · Industry: Food & Drug Retailers

Walmart ($WMT) runs physical stores and digital commerce operations across the U.S. and international markets including Canada, China, India, Mexico and parts of Africa and Central America. The company describes its model as omnichannel – connecting in-store shopping with eCommerce websites and mobile apps under the same retail umbrella.

Three segments make up the business: Walmart U.S., Walmart International and Sam's Club U.S. Sam's Club operates as a warehouse membership club, where members can shop both in-store and through its own eCommerce platform. Walmart U.S. also runs advertising services alongside its core retail and digital offerings. Around 2.1 million people work across the operation worldwide.

3. Alibaba Group Holding Limited ($BABA)

Alibaba Group Holding Limited (BABA) share price over the last year: started at US$138.55, ended at US$112.85, a change of −18.5%. Range over the period: high US$189.34, low US$94.81. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$112.85 · Daily: -1.0% · Market cap: US$283.41B · Sector: Technology · Industry: Software & IT

Alibaba Group Holding Limited ($BABA) runs some of China's most recognised online shopping platforms – Tmall, Taobao and the wholesale marketplace 1688.com – while also operating quick commerce services like Ele.me and Taobao Instant Commerce for on-demand delivery. Its international arm extends that reach through AliExpress, Lazada and Trendyol, covering markets across Southeast Asia, Europe and beyond.

Cloud services sit alongside the commerce business through the Cloud Intelligence Group, which provides public and private cloud infrastructure to enterprise customers. CEO Eddie Wu leads a company of more than 131,000 employees across these segments, which also include grocery retail under Freshippo and logistics through Cainiao.

4. Shopify ($SHOP)

Shopify (SHOP) share price over the last year: started at US$139.04, ended at US$139.82, a change of +0.6%. Range over the period: high US$179.01, low US$95.40. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$139.82 · Daily: -5.1% · Market cap: US$189.61B · Sector: Technology · Industry: Software & IT

Shopify ($SHOP) provides the infrastructure merchants use to run businesses online, in physical stores and across social media and third-party marketplaces. The platform handles everything from inventory and payments to fulfilment, customer relationships and access to financing – all from one integrated back office.

Under CEO Tobi Luetke, $SHOP employs 7,600 people and the platform reaches merchants in 175 countries.

5. PDD Holdings Inc. ($PDD)

PDD Holdings Inc. (PDD) share price over the last year: started at US$121.69, ended at US$83.17, a change of −31.7%. Range over the period: high US$138.13, low US$73.30. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$83.17 · Daily: -1.0% · Market cap: US$119.57B · Sector: Technology · Industry: Software & IT

The name behind both Temu and Pinduoduo, PDD Holdings Inc. ($PDD) connects buyers with merchants across two platforms with distinct approaches. Pinduoduo is built around value-for-money merchandise and interactive shopping experiences. Temu takes a global angle, bringing together buyers, merchants, manufacturers and brands across categories from apparel and electronics to household goods and pet supplies.

$PDD backs both platforms with its own sourcing, logistics and fulfilment network. The company employs 25,474 people under CEO Lei Chen.

6. MercadoLibre ($MELI)

MercadoLibre (MELI) share price over the last year: started at US$2,379.76, ended at US$1,963.49, a change of −17.5%. Range over the period: high US$2,510.97, low US$1,546.81. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$1,963.49 · Daily: 1.4% · Market cap: US$98.16B · Sector: Technology · Industry: Software & IT

MercadoLibre ($MELI) has built something closer to a commerce operating system than a single marketplace. Under CEO Ariel Szarfsztejn, the company runs six integrated services across 18 countries in Latin America: a marketplace, a classifieds platform, a payments solution called Mercado Pago, a credit arm, a logistics network, and an advertising platform.

The payments and credit pieces are worth understanding on their own terms. Mercado Pago processes transactions across the ecosystem, while Mercado Credito extends financial solutions to buyers and sellers who use the platform – broadening the company's reach well beyond matching buyers and sellers. With more than 123,000 employees, $MELI operates at a scale that reflects how deeply those services are embedded into commerce across the region.

7. eBay ($EBAY)

eBay (EBAY) share price over the last year: started at US$89.89, ended at US$104.98, a change of +16.8%. Range over the period: high US$118.96, low US$79.41. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$104.98 · Daily: 1.4% · Market cap: US$46.08B · Sector: Technology · Industry: Software & IT

The marketplace model at eBay Inc. ($EBAY) puts buyers and sellers in direct contact across more than 190 markets through its online platforms and mobile apps. $EBAY builds and maintains the infrastructure that makes those transactions work: listing and search tools, payment processing, and database systems designed to handle global scale. Its Money-Back Guarantee program covers purchases where an item doesn't arrive, arrives damaged, or doesn't match its listing description. Under CEO Jamie Iannone, the company employs around 12,300 people.

8. JD.com, Inc. ($JD)

JD.com, Inc. (JD) share price over the last year: started at US$31.58, ended at US$27.90, a change of −11.7%. Range over the period: high US$36.17, low US$25.19. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$27.90 · Daily: -1.2% · Market cap: US$39.03B · Sector: Consumer Discretionary · Industry: Retail Stores

JD.com, Inc. ($JD) runs one of China's largest online retail and marketplace platforms, selling goods directly to consumers through its JD Platform – a combination of mobile apps and www.jd.com. JD Retail, which sits at the core and includes JD Health and JD Industrials, handles both direct sales and third-party marketplace listings alongside marketing services.

$JD's logistics arm operates as its own business, serving both internal needs and external customers. New Businesses rounds out the picture, covering food delivery, property services and overseas operations. With nearly 777,000 employees, the scale of the operation reflects just how much of that supply chain $JD runs in-house rather than outsourcing.

CEO Sandy Xu leads a company that operates predominantly in China's domestic market, though the New Businesses segment points to an ongoing push into international territory.

9. Coupang ($CPNG)

Coupang (CPNG) share price over the last year: started at US$28.41, ended at US$15.80, a change of −44.4%. Range over the period: high US$33.53, low US$15.12. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$15.80 · Daily: -1.6% · Market cap: US$28.87B · Sector: Consumer Discretionary · Industry: Retail Stores

Coupang, Inc. ($CPNG) is built around retail in South Korea, where it runs both an owned-inventory store and a marketplace for third-party merchants. Its Rocket Fresh service extends that into fresh groceries, while Coupang Eats handles restaurant delivery. Coupang Play, a video streaming service, rounds out what the company offers Korean consumers under its main brand.

Beyond Korea, $CPNG operates in Taiwan and runs Farfetch, a global marketplace for luxury fashion. These international and newer ventures sit in the company's Developing Offerings segment alongside its fintech operations. CEO Bom Kim oversees a workforce of 108,000 people spread across all of these businesses.

$CPNG also operates Coupang Intelligent Cloud, an AI-driven cloud computing arm that supports its own services and sells GPU-as-a-service to external parties – an unusual move for a company whose core business is selling and shipping goods.

10. Wayfair ($W)

Wayfair (W) share price over the last year: started at US$77.65, ended at US$93.88, a change of +20.9%. Range over the period: high US$119.05, low US$57.40. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$93.88 · Daily: -5.4% · Market cap: US$13.60B · Sector: Consumer Discretionary · Industry: Retail Stores

Wayfair Inc. ($W) focuses on home goods – furniture, decor, housewares and home improvement products – sold through its online platform. The company runs several distinct brand names, including AllModern, Birch Lane, Joss & Main and Perigold, each aimed at a different aesthetic. Wayfair Professional caters to business buyers, from small startups to global enterprises.

$W also sells through its own house brands, including Three Posts and Mercury Row. The customer base runs broad, covering households with annual incomes from $25,000 to above $250,000. Beyond the U.S., the company operates in Canada, the UK and Ireland under CEO Niraj Shah, with a workforce of 11,800.

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Common questions

How do I invest in e-commerce stocks in Australia?

All ten stocks in this list trade on U.S. exchanges, so you'll need a share trading platform with access to U.S. markets. Trades settle in USD, which means the AUD/USD rate affects what your holdings are worth in Australian dollar terms. You search by ticker – $AMZN, $SHOP, and so on – and place orders during U.S. market hours.

What are the key risks of e-commerce stocks?

Consumer spending is the biggest lever – when household budgets tighten, online shopping volumes tend to follow. Logistics and fulfilment costs can compress margins quickly, particularly for companies that run their own warehousing and delivery networks. Several companies in this list operate primarily in China, where regulatory changes affecting technology businesses can be abrupt. Currency risk runs across the whole list: all ten stocks trade in USD, so a rising AUD reduces returns in Australian dollar terms.

How does geographic focus vary across the companies in this list?

The ten companies here are spread across very different markets, which shapes the risks each one carries. Alibaba, $JD and $PDD are primarily based in China, where government policy on technology and data can shift quickly. $MELI covers Latin America across 18 countries, $CPNG is centred on South Korea with operations in Taiwan, and $W focuses on North America and the UK. $AMZN, $WMT and $EBAY each have broader international reach, while $SHOP sits apart from the others – it provides merchant infrastructure across 175 countries rather than operating as a retailer itself.

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Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

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This article combines AI and human review from our analysts to bring you accurate, informative investing content at speed. For questions or suggestions, contact stakedesk@stake.com.au.