E-commerce growth may have slowed post-pandemic, but Goldman Sachs remains bullish on the sector and thinks there is more growth ahead. "We believe that e-commerce will continue to benefit from secular growth tailwinds and see global e-commerce sales of $3.4 trillion growing at a [compounded annual growth rate] of 9% through 2026E to reach $4.8 trillion," Goldman's analysts, led by Eric Sheridan, wrote in the investment bank's "2023 Global E-commerce Handbook" on Apr.
The exit came less than two years after it entered the market. Amazon is also among Goldman's favorite e-commerce stocks. The bank has ascribed a price target of $145 on Amazon, representing potential upside of 42%. State of e-commerce The e-commerce sector is dominated by just five players, according to Goldman, representing over 60% of global online sales in 2022. It named Amazon and Alibaba as the largest e-commerce platforms globally, with about 20% market share apiece. Pinduoduo , JD.