Top 10 e-commerce stocks to watch in 2026

E-commerce stocks cover companies that sell goods directly through online platforms and those that supply the infrastructure other merchants run on. Amazon.com ($AMZN) carries more than three times the market cap of the next name on this list, Walmart Inc. ($WMT), and all ten trade on U.S. exchanges.

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 29 September 2026.

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1. Amazon.com ($AMZN)

Amazon.com (AMZN) share price over the last year: started at US$219.57, ended at US$246.67, a change of +12.3%. 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$246.67 · Daily: 0.2% · Market cap: US$2.66T · Sector: Consumer Discretionary · Industry: Retail Stores

Amazon.com ($AMZN) sells merchandise directly to consumers and hosts third-party sellers across its online marketplace. $AMZN also manufactures a range of consumer electronics, including Kindle e-readers, Fire TV devices, Echo smart speakers and Ring home security products. Customers reach those offerings through websites, mobile apps, Alexa and physical stores. Andrew Jassy serves as CEO.

Amazon Web Services (AWS) is the cloud computing arm, providing on-demand compute, storage, database, analytics and machine learning services to developers, start-ups, enterprises, government agencies and universities. The company employs 1,576,000 people and reports across three segments – North America, International and AWS.

2. Walmart ($WMT)

Walmart (WMT) share price over the last year: started at US$103.06, ended at US$106.80, a change of +3.6%. Range over the period: high US$134.20, low US$100.61. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$106.80 · Daily: -1.8% · Market cap: US$862.64B · Sector: Consumer Staples · Industry: Food & Drug Retailers

Running physical stores and eCommerce under the same brand is central to how Walmart Inc. ($WMT) operates. The company's three segments – Walmart U.S., Walmart International and Sam's Club U.S. – each combine in-store operations with online shopping and mobile apps. The Walmart U.S. segment also runs advertising services, connecting brands with $WMT's customers across its digital platforms.

Internationally, $WMT operates retail and wholesale outlets across Africa, Canada, Central America, Chile, China, India and Mexico. Sam's Club is $WMT's warehouse membership concept, focused on the U.S. market. It employs around 2.1 million people and is led by CEO John Furner.

3. Alibaba Group Holding Limited ($BABA)

Alibaba Group Holding Limited (BABA) share price over the last year: started at US$178.73, ended at US$107.74, a change of −39.7%. 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$107.74 · Daily: -0.9% · Market cap: US$270.34B · Sector: Technology · Industry: Software & IT

Tmall Supermarket, Tmall Global and quick-commerce service Taobao Instant Commerce sit within Alibaba Group Holding Limited ($BABA)'s China e-commerce portfolio. Food delivery runs through Ele.me, while the wholesale marketplace 1688.com connects business buyers and sellers domestically.

Internationally, $BABA operates AliExpress, Turkish marketplace Trendyol, Southeast Asian platform Lazada and B2B exchange Alibaba.com. A cloud division rounds out the business alongside grocery chain Freshippo, logistics network Cainiao and Alibaba Health – all under CEO Eddie Wu, who oversees a workforce of 131,462 people.

4. Shopify ($SHOP)

Shopify (SHOP) share price over the last year: started at US$148.61, ended at US$148.26, a change of −0.2%. 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$148.26 · Daily: 3.0% · Market cap: US$185.29B · Sector: Technology · Industry: Software & IT

Shopify Inc. ($SHOP) builds the back-end plumbing that lets merchants sell across every channel from a single dashboard. Whether a business runs a website, a physical shop, a social media storefront, or a marketplace listing, $SHOP ties the inventory, payments, fulfillment, and customer data together in one place.

The company's platform operates across 175 countries and covers financing and analytics alongside the more obvious commerce tools. Under CEO Tobi Luetke, $SHOP employs around 7,600 people to support that infrastructure.

5. PDD Holdings Inc. ($PDD)

PDD Holdings Inc. (PDD) share price over the last year: started at US$132.17, ended at US$77.50, a change of −41.4%. 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$77.50 · Daily: -1.3% · Market cap: US$111.72B · Sector: Technology · Industry: Software & IT

Behind the Temu app that's turned up in everyone's social feed sits PDD Holdings Inc. ($PDD), a multinational commerce company that operates two distinct platforms. Pinduoduo focuses on value-for-money merchandise paired with interactive shopping experiences, while Temu connects buyers with merchants, manufacturers and brands across product categories from apparel and electronics to pet supplies and home improvement tools.

$PDD has built the sourcing, logistics and fulfilment capabilities that underpin both platforms. The company employs 25,474 people and is led by chief executive Lei Chen. Its stated focus is drawing businesses and people into the digital economy, with an emphasis on productivity gains for small businesses and local communities.

6. MercadoLibre ($MELI)

MercadoLibre (MELI) share price over the last year: started at US$2,336.94, ended at US$1,724.90, a change of −26.2%. Range over the period: high US$2,360.76, low US$1,546.81. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$1,724.90 · Daily: 0.7% · Market cap: US$86.81B · Sector: Technology · Industry: Software & IT

Across 18 countries in Latin America, MercadoLibre Inc ($MELI) runs an ecosystem built around online commerce. The Mercado Libre Marketplace connects buyers and sellers, while Mercado Pago handles payments, Mercado Credito provides financial solutions, and Mercado Envios covers logistics and shipping. Sellers can also use Mercado Ads for advertising and Mercado Shops to set up their own digital storefronts. Ariel Szarfsztejn leads the company, which employs 123,670 people across the region.

7. eBay ($EBAY)

eBay (EBAY) share price over the last year: started at US$90.95, ended at US$105.21, a change of +15.7%. 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$105.21 · Daily: -2.0% · Market cap: US$47.76B · Sector: Technology · Industry: Software & IT

eBay Inc. ($EBAY) runs one of the older online marketplaces still in operation – a platform connecting buyers and sellers across more than 190 markets through its website, localised country versions and mobile apps. The model is different from retailers that buy and hold inventory: $EBAY connects third-party buyers and sellers directly, with the company providing the infrastructure underneath.

Under CEO Jamie Iannone, the company employs 12,300 people to maintain that infrastructure – search tools, transaction processing, developer APIs and the eBay Money-Back Guarantee, which covers buyers if an item doesn't arrive or differs from its listing.

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

JD.com, Inc. (JD) share price over the last year: started at US$34.98, ended at US$26.30, a change of −24.8%. 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$26.30 · Daily: -1.2% · Market cap: US$37.04B · Sector: Consumer Discretionary · Industry: Retail Stores

JD.com, Inc. ($JD) runs one of China's major online retail and marketplace platforms, selling products directly to consumers through its mobile apps and the jd.com website. The retail business covers everything from health products through JD Health to industrial supply through JD Industrials. Beyond the storefront, $JD operates its own logistics network – handling both internal fulfilment and third-party logistics services for outside merchants.

The company also runs newer lines including food delivery, property and cross-border businesses, grouped under a New Businesses segment. With around 776,682 employees, the operation is large by any measure, reflecting the labour intensity of running both an e-commerce platform and a physical logistics arm under one roof. Sandy Xu serves as CEO.

9. Coupang ($CPNG)

Coupang (CPNG) share price over the last year: started at US$32.20, ended at US$13.85, a change of −57.0%. Range over the period: high US$32.56, low US$13.75. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$13.85 · Daily: 0.7% · Market cap: US$24.72B · Sector: Consumer Discretionary · Industry: Retail Stores

Coupang, Inc. ($CPNG) sells goods to Korean shoppers through its own inventory and a marketplace for third-party merchants. Rocket Fresh covers fresh groceries, and Rocket Now handles rapid delivery.

Restaurant delivery runs through Coupang Eats, and Coupang Play provides video streaming – both centred on Korea. $CPNG also operates a fintech arm, a retail business in Taiwan, and Farfetch, its global luxury fashion marketplace.

CEO Bom Kim leads around 108,000 employees. Coupang Intelligent Cloud (CIC) provides AI cloud computing, including GPU-as-a-Service (GPUaaS) that $CPNG sells to external parties as well as using for its own operations.

10. Wayfair ($W)

Wayfair (W) share price over the last year: started at US$89.33, ended at US$101.95, a change of +14.1%. 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$101.95 · Daily: 3.4% · Market cap: US$13.51B · Sector: Consumer Discretionary · Industry: Retail Stores

Furniture, decor and home improvement products form the core of what Wayfair Inc. ($W) sells through its e-commerce platform. The company operates several distinct brands – Wayfair, AllModern, Birch Lane, Joss & Main and Perigold – each pitched at a different style or price point. It also sells under its own house brands, including Three Posts and Mercury Row.

$W operates two segments – U.S. and International – with international sites running in Canada, the UK and Ireland. The customer base covers a wide income range, and the company also serves business buyers through Wayfair Professional. CEO Niraj Shah leads around 11,800 employees.

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Common questions

How do I invest in e-commerce stocks in New Zealand?

All ten companies in this list trade on U.S. exchanges, so you need a share trading platform that provides access to U.S. markets. You search by company name or ticker and place an order the same way you would for any other U.S.-listed share.

What are the key risks of e-commerce stocks?

Some of the key risks include consumer spending cycles – when household budgets tighten, discretionary online shopping can be among the first areas to slow. Regulatory pressure is another, particularly for platforms with significant operations in China, where policy can shift quickly and meaningfully for companies like $BABA, $JD and $PDD. Competition is intense across every geography this list covers, and shifts in where shoppers spend their time can move market share between platforms. Because these stocks are priced in USD, movements in the NZD/USD rate also affect what you pay when buying and what you receive when selling.

How do marketplace and direct retail models differ among e-commerce companies?

Direct retailers like $JD buy and hold inventory, then sell it to consumers – they own the goods through the supply chain. Pure marketplaces like $EBAY connect buyers and sellers without holding stock, earning fees on each transaction instead. $SHOP sits in a different category: it provides software infrastructure for other merchants to run their own stores, earning subscription and payment-processing revenue rather than selling to end consumers directly. Several companies in this list blend all of these approaches, hosting third-party sellers alongside their own inventory while layering payments, logistics or advertising services on top.

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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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