We recently compiled a list of the . In this article, we are going to take a look at where PDD Holdings Inc. (NASDAQ:PDD) stands against the other e-commerce stocks.
According to a report by Forbes, the e-commerce industry is expected to grow to a valuation of $7.9 trillion by 2027 from $6.3 trillion in 2024.
In 2027, 23% of retail purchases are expected to be made online, up from 20.1% in 2024. An increase in consumer confidence, after a period of sluggish growth, has been a key catalyst in improving the position of the e-commerce industry.
On July 30, Reuters reported that the consumer confidence index, in the US, increased to 100.3 in July after it was revised down to 97.8 in June.
Previously, experts predicted the index to fall to 99.7 after reaching 100.4 basis points.
Chief Economist, Dana Peterson, suggested that while consumers remain resilient they are concerned over rising prices and interest rates. However, despite an uncertain macroeconomic environment, e-commerce companies are taking advantage of the current consumer sentiment by reducing prices. Companies like Target have also revised their profits for FY 2024 as lowered prices have drawn more customers.
To shed light on the state of online retail, US Mastercard Economics Institute Chief Economist, Michelle Meyer appeared in an on on August 16. Online retail sales went up by 8.2% in July, compared to a 2.
9% growth rate in July 2023. She further explains that personal finances, time efficacy, and the overall stat.