Investors continue to worry about a recession, and for good reason. There are concerning developments all around the domestic and global economy. However, the price action in the stock market remains impressive. It’s got investors looking for recession-resistant stocks, and we’re finding it in consumer spending stocks.

Specifically, e-commerce stocks are sticking out to us as potential buys.

Even though there is a concern about an economic slowdown, there doesn’t seem to be a worry about consumer sales slowing down. In fact, none of these names are recession-resistant stocks — most stocks aren’t.

The businesses might be okay, but the stock prices will surely get punished. That said, many of these consumer spending stocks continue to gain traction, so let’s listen to what the market is trying to tell us and take a closer look.

Consumer Spending Stocks: Amazon (AMZN)

Amazon (NASDAQ:AMZN) will feel the pinch from a slowdown in consumer spending, and a recession will be bad news for this firm. However, because it has such a diversified business, the company’s long-term trajectory still looks promising.

The stock bottomed on Jan. 3 and has been flying higher for most of 2023. Amazon shares have now gained in four straight months and rallied more than 50% off the January low.

While everyone thinks of Amazon as an e-commerce giant, it has become much more than that. The company’s Amazon Web Services unit has become a dominant player in the cloud business, while Amazon also has surprising momentum in advertising. It also controls much of its own logistics operations and has been busy building out its entertainment unit.

Put it all together, and this is a stock that should continue to do well as long as the consumer is doing well. When the company last reported earnings, it only grew revenue by 9.5% year over year, but it also beat expectations by almost $3 billion. So there’s an opportunity for upside if it can continue to top estimates.

E-commerce Stock Picks: Shopify (SHOP)

Given how Shopify (NYSE:SHOP) performed during the 2022 bear market and its exposure to e-commerce, it’s hard to call it one of the recession-resistant stocks. However, given its online presence and e-commerce platform, Shopify is certainly one of the consumer spending stocks — and it’s been in favor lately.

Shopify was one of the top stock leaders in the prior bull market. Shares exploded higher, rallying over 2,700% from their 2016 low to pre-Covid highs in early 2020. After a near-50% correction during the pandemic, shares rallied almost 400% off the low. Then the real pain came, with Shopify shares falling more than 85% from an all-time high.

Now though, bulls have been in control of Shopify stock.

Like Amazon, shares have gained in four straight months, but the move has been more extreme, with the stock nearly tripling off the low. Analysts expect nearly 20% revenue growth this year and next year, while the most recent earnings report showed a focus on sales growth and keeping expenses in check.

In short, if the e-commerce expansion continues, so too should Shopify’s growth.

Side Hustle Glory: Etsy (ETSY)

Unlike most tech stocks that bottomed in the fourth quarter of 2022 or the first quarter of 2023, Etsy (NASDAQ:ETSY) stock bottomed more than a year ago in June 2022. Etsy shares then ripped higher by nearly 105% and topped in January.

Now pulling back, the dip could be giving investors an opportunity.

Shares trade at roughly 35 times this year’s earnings estimate, which should be an enormous improvement from last year’s losses. Estimates call for further growth in 2024, alongside accelerating revenue growth in 2024 from this year’s forecast of 7.5%.

Etsy could be a landing spot for creatives looking for additional revenue streams if and when the US economy goes into recession. While that may still be a tough spot for Etsy to operate out of — that “spot” being a recession — one has to think it should bode well for its long-term growth.

The company must think it’s in a good spot, as it recently approved a $1 billion buyback plan.

On the date of publication, Bret Kenwell did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.