Consumer spending is the heartbeat of the economy. There are numerous examples of innovative companies that became mega-cap juggernauts by developing better ways to serve consumers, whether through online shopping or streaming.
Five simple examples would include Amazon (AMZN +0.33%), Netflix (NFLX +1.32%), Shopify (SHOP +2.00%), Spotify (SPOT +0.25%), and MercadoLibre (MELI +0.49%). Sure, most investors may already know these names. But each stock can still move the needle in your portfolio.
Their proven advantages, combined with their still shockingly high future potential, make each growth stock a no-brainer to buy and hold forever. Here is the rundown on each.
Image source: Amazon
1. Amazon
Online shopping is a way of life in the United States, thanks to Amazon. The e-commerce giant accounts for roughly 40% of U.S. online retail sales, which, after decades, is still less than one-fifth of total retail spending in America. Amazon's supply chain is unmatched, and it has built a massive customer base through its Prime subscription, which boasts over 200 million members worldwide.
NASDAQ: AMZN
Key Data Points
If that weren't enough, Amazon has branched out into new industries over the years. It's the leading cloud services company, and thus, an integral player in artificial intelligence (AI). It has also built a large digital advertising business and delved into emerging industries, such as telehealth. Amazon is at the core of U.S. consumer spending, making it a table-pounding buy for any long-term investor.
2. Netflix
Streaming has overtaken cable television, a movement that began when Netflix pivoted from DVD rentals to online streaming years ago. The industry pioneer is also the leader today, with approximately 325 million paid subscribers worldwide. Netflix continues to evolve, bringing live sports and other new content into its ecosystem, launching ad-supported memberships, and appealing to its global user base to drive growth.
Netflix recently announced a pending $82.7 billion acquisition of Warner Bros. studios, HBO, and HBO Max from Warner Bros. Discovery. Assuming the deal eventually closes following regulatory review, Netflix will likely have a decades-long runway to innovate and monetize an industry-leading cache of intellectual property.
3. Shopify
Most merchants lack the tools and knowledge to compete in e-commerce. Shopify has enjoyed tremendous success filling those needs, as many brands and companies would like to sell online without surrendering complete control to Amazon. Its tech platform enables merchants to set up and operate online stores, including payments, marketing, and integrations into third-party apps.
NASDAQ: SHOP
Key Data Points
Cumulatively, Shopify serves more than 5 million merchants, generating $123.8 billion in gross merchandise volume (GMV) in the fourth quarter alone, and full-year GMV has tripled since 2020. Shopify's business is very sticky with merchants, as it essentially serves as the skeleton beneath their online businesses. Its global footprint will also help it attract merchants looking to transact in the worldwide economy.
4. Spotify
Despite steep competition from Apple Music and YouTube Music, Spotify has continued to thrive. The streaming platform ended 2025 with 751 monthly active users, up 11% from the prior year. Having such a large audience gives Spotify a firm footing in the audio space, making it a crucially important stage for almost any notable artist or podcast. Spotify can then monetize its audience, either through ads or premium subscriptions.
Its massive user base provides Spotify with proprietary data that it can use to fine-tune its algorithms and deliver a superior user experience. Spotify could easily continue to grow for the foreseeable future. Sound remains a fundamental media format for worldwide listeners, and it's cheaper than video streaming services like Netflix. Spotify's platform grows stronger as more people use it. Therefore, the company's best years could still be ahead as growth continues over the coming decade and beyond.
5. MercadoLibre
Latin America is an up-and-coming economy, home to more than 662 million people. MercadoLibre is one of the region's leading players in e-commerce and digital payments. The company started in 1999, but it has taken time for Latin American consumers to embrace modern technologies, such as smartphones, online retail, and digital payments. However, that trend has progressed and accelerated during the COVID-19 pandemic.
NASDAQ: MELI
Key Data Points
As a result, MercadoLibre enjoyed a growth spurt during the pandemic and has continued to build on that momentum. Revenue has surged by nearly 130% over the past three years, and MercadoLibre is comfortably profitable, with trailing 12-month net income of over $2 billion. The stock is a strong buy-and-hold pick because MercadoLibre has already proven itself, yet still has arguably many years of electrifying growth ahead.
