E-commerce is now a permanent fixture on the retail landscape. This goes well beyond companies that sell almost exclusively online. Brick-and-mortar retailers also embrace the concept and offer omnichannel retailing that provides the advantages of both online and offline retailing.

That trend should continue for a decade and likely much longer. Market research firm Research and Markets estimates this industry will reach $71 trillion in annual sales by 2028, taking its compound annual growth rate (CAGR) to 27% during that time. This means even if growth slows after that year, e-commerce will continue to create trillions in shareholder wealth.

Although numerous companies across the retail landscape will benefit from this impressive growth, Amazon (AMZN 2.50%), MercadoLibre (MELI 0.04%), and Shopify (SHOP 5.49%) are particularly well-positioned to enrich investors. Here's a bit more about these three buy-and-hold e-commerce stocks.

1. Amazon

Despite pioneering the e-commerce industry and growing to a $1.4 trillion market cap, Amazon still holds considerable potential to drive investor returns.

In truth, Amazon has become more a conglomerate underpinned by e-retailing than an e-commerce company. Online sales account for the largest portion of revenue, and it is unclear whether that part of the business turns a profit.

Still, the desire to expand e-commerce spawned its highly profitable Amazon Web Services (AWS) business. Additionally, free delivery is a critical benefit of its fast-growing Amazon Prime subscription services, and e-commerce also supports an increasingly large advertising business.

Thanks to an improved performance in its North American and international segments, Amazon earned a $10 billion net income in the first half of 2023, returning the company to profitability. Also, analysts predict that consensus earnings will skyrocket 192% in three years. With such increases, a large size will likely not stop Amazon from further profiting investors.

2. MercadoLibre

MercadoLibre has taken a similar approach to Amazon, tailoring its e-commerce business to Latin America.

It supports the sales of e-vendors, going so far as to start a fintech business to facilitate online sales for its cash-based customers. This evolved into a separate fintech business, Mercado Pago, that produces some of the company's fastest growth. This segment solves a critical problem for the business while leveraging a regional challenge.

It repeated this formula with its shipping segment, Mercado Envios, and by using its site to sell advertising. All of these businesses form synergies that support one another, thus perpetuating more growth for the company.

This approach made MercadoLibre increasingly profitable. Its $463 million in net income for the first half of 2023 surged 146% year over year.

Finally, its market cap of $67 billion makes its size a small fraction of Amazon's size. While it may or may not grow to match Amazon's current size, it can likely perpetuate growth for years to come as it improves offerings and solutions for its customers.

3. Shopify

Shopify turned into a top e-commerce company by making the independence of other e-merchants possible. Such businesses may not want to depend on an Amazon or a MercadoLibre to support their online sales sites, and that is where Shopify can help.

Shopify offers a fast and highly customizable platform that supports independent e-merchants. Additionally, it stands out above numerous competitors by building a supporting ecosystem.

This offers numerous functions ranging from managing payments and inventory to raising capital to social media marketing that supports its clients under one umbrella. These offerings have helped Shopify become the No. 1 e-commerce platform in the U.S., according to Builtwith.com.

Now that Shopify has abandoned plans to enter the fulfillment business, it should achieve profitability more quickly. Indeed, it reported $1.2 billion in losses in the first six months of 2023, but that is an improvement over the $2.7 billion loss for the same time frame last year.

The popularity of its products and services has taken Shopify's market cap to $75 billion. With the e-commerce industry growing at a 27% CAGR, Shopify should continue to expand for some time to come.