With the digitization boom in recent years, e-commerce companies have grown by leaps and bounds, and have advanced to the center stage of retailing. The estimated sales of global retail e-commerce sales were around $4.9 trillion in 2021. Market analysts predict the global e-commerce volume to increase by 50% and reach roughly $7.4 trillion by 2025.
Amazon leads this worldwide trend with a total net sales volume in the second quarter of 2022 of over $121.2 billion. So, are you curious about the world’s largest e-commerce companies that are driving the overall B2C market? Let’s dive in and find out.
1. Amazon – Market Cap $1.65 Trillion
Amazon, the world’s largest e-Commerce gateway that sells virtually everything from books to food products to mobile devices, continues to dominate the global market. Amazon’s market value stood at $1.65 trillion in January 2022 – in a down economy – it would be even bigger in an economy that was booming. That says a lot. Moreover, compared to net revenue of $21.3 billion in 2020, the company’s income in 2021 rose to $33.4 billion.
Aside from consistently increasing its YoY annual revenue, Amazon has also recorded a significant climb in monthly site visits. The number of visitors to Amazon via desktop and mobile devices increased to about 2.4 billion in May 2022 from 2.3 billion in the previous month.
On average, site visitors to the e-commerce giant’s online platform spend 7 minutes per visit and browse through 8.58 pages. Jeff Bezos, Amazon’s founder, claims that half of all purchases conclude in about 15 minutes or less.
2. Walmart – Market Cap $361 Billion
Walmart is a household name in the US and in many other parts of the world. While it is more recognized as the world’s biggest hypermarket chain, in recent years, Walmart has made massive investments in e-commerce through acquisitions and grocery expansion of pickup and delivery services.
The Walmart e-commerce website received an average of 410 million hits a month in 2021. The average visitor spent about 4 minutes on each visit and browsed through 5 web pages. Walmart US reported e-commerce sales of $47.8 billion in 2022, representing a jump of roughly 11% over the previous year.
3. Alibaba – Market Cap $246 Billion
Alibaba is one of the most preferred online retailers in the fast-growing e-commerce industry. Alibaba was founded in 1999 by former English teacher Jack Ma, who pooled together $80,000 from 80 investors to build an online marketplace for Chinese businesses. He currently records on the Forbes list in the 67th position amassing a net worth of $22.8 billion.
The Alibaba Group has an assortment of businesses that provide services like e-commerce platforms, cloud services, self-operated retail chains, and logistics networks. Alibaba’s net revenue in 2022 increased 23% over the previous year to more than $134 billion. In 2021, Alibaba generated $109 billion in sales revenues, registering a 52% jump over 2020. Alibaba had a 28% growth in annual sales from 2019 to $72 billion in 2020.
4. Meituan – Market Cap $137 Billion
Meituan (previously known as Meituan-Dianping) is a Chinese online marketplace for locally sourced consumer goods and retail services, such as dining, entertainment, delivery, travel, and more. Meituan, the first group-buying website in China, was established in Beijing in March 2010. The company serves over 130 million active customers annually. The second quarter of 2021 saw Meituan’s revenue rise from $6.16 billion to $7.13 billion, representing a 16.4% increase.
Despite the relative slowdown in the domestic Chinese market in recent times, Meituan managed to boost its revenues for the core local commerce segment by 9.2% in the second quarter of 2022. Operating profit was up 39.7% year-on-year, while net margins improved by 22.5%.
5. Pinduoduo – Market Cap $89 Billion
One of China’s most well-known e-commerce platforms is Pinduoduo. It focuses on establishing connections between customers and suppliers of household goods, technology, and fresh vegetables. In 2021, Pinduoduo had an average of 241.5 million visitors per month. The company commands a market cap of $89 billion at present.
In 2022, Pinduoduo reported 36% revenue growth and roughly tripled its net income over the previous year. In the second quarter of 2022, Pinduoduo’s net income soared by an astounding 268%.
6. JD.com (Jingdong Mall) – Market Cap $87 Billion
JD.com is one of Alibaba’s key rivals as a top online retailer in China. The platform reported net revenues of $5.1 billion in the third quarter of 2020. In 2021, the company had 179 million monthly visitors on average and recorded $33.9 billion in net revenues, representing a jump of 43.3%.
In September 2022, financial reports for Jingdong Mall indicate that the company’s current revenue is $155 billion and its market cap is as high as $87 billion. The company generated $147.29 billion in revenue in 2021, which was a substantial increase from $109 billion in revenue in 2020.
7. Shopify – Market Cap $42 Billion
Shopify is a comprehensive, specialized worldwide e-commerce platform that has assisted companies of all kinds in launching, expanding, and marketing their online stores. With a current market cap of over $42 billion, Shopify is one of the biggest e-commerce businesses in the world.
Its financial figures for the second quarter of 2021 revealed a 57% YoY growth with total revenues of $1.2 billion. As of June 30, 2022, the company’s monthly recurring revenue (MRR) was $107.2 million. As more merchants joined the platform, MRR climbed 13% year-on-year, rising from $95.1 million recorded in June 2021.
8. Flipkart – Net Worth $40 Billion
Flipkart, India’s leading homegrown e-commerce startup, received more than 176 million monthly visitors in 2021, making it one of the world’s top e-commerce websites. With its online business now controlled by Walmart, Flipkart saw a 25% revenue increase in 2021. The company’s marketplace, IT, and e-commerce services contributed significantly to its overall revenue. Flipkart’s current net worth as a private company stands at about $40 billion.
9. eBay – Market Cap $28 Billion
One of the most popular e-commerce websites in the world in 2021, eBay receives an average of 1.7 billion visitors a month.
The company’s market value in January 2022 was $41.5 billion, which was a substantial jump from $34.6 billion and $29.6 billion in 2021 and 2020, respectively. eBay currently commands a market capitalization of about $23 billion.
Since making modifications to its platform in recent years, eBay has begun to operate more like Amazon. Using structured data, it built a group listing technique that calls for sellers to list product identifiers in their listings. This strategy makes it simple for customers to get the best bargain on a specific product.
10. Sea Limited – Market Cap $27 Billion
Sea Limited is a Singapore-based online video gaming, e-commerce, and financial services firm, which operates with popular brands: Garena, Shopee, and AirPay. Market capitalization for Sea (Garena) as of September 2022 was nearly $35 billion.
In the third quarter of 2021, the e-commerce division of Sea Limited generated $1.5 billion in revenue, representing a 134% YoY growth. Its gross market value (GMV) increased by 80% YoY to $16.8 billion.
11. Suning Commerce – Market Cap $18 Billion
Another Chinese business, Suning operates as a hybrid retailer with both e-commerce and physical retail operations. As one of the largest retail chains in the country, it sells its products from over 1,600 locations backed by its 13,000 staff members.
The company runs ventures in various industries, including entertainment, real estate development, and business. Among Suning’s online storefronts are Suning.com Plaza and Suning Retail Cloud Store. According to estimates, the company’s overall sales in 2020 stood at $36 billion.
12. Trendyol – Market Cap $16.5 Billion
The largest e-commerce site in Turkey, Trendyol, is operated by a Turkish tech firm. To provide a seamless UX for visitors, the organization leverages many technologies such as Content Delivery Network, Google Analytics, and LetsEncrypt. Trendyol receives an average of about 220 million visitors annually.
Visitors typically browse 7 web pages during their visit and spend about 7 minutes on the website. Alibaba, the global leader in e-commerce, supports the company with technical know-how.
13. Etsy – Market Cap $13.7 Billion
Etsy, the favorite e-commerce website, focuses primarily on sales of handmade and craft items. The total market cap of Etsy was $13.75 billion as of September 2022. More recent financial reports from Etsy show that the company’s current annual revenue is $2.4 billion. The company generated $2.3 billion in revenue in 2021, which was a sharp increase from $1.7 billion in revenue in 2020.
14. Allegro – Market Cap $6 Billion
Allegro, one of the most prominent online marketplaces in Europe and the most popular shopping site in Poland saw an average of 190 million monthly visitors in 2021. Allegro’s market capitalization as of September 2022 stood at $5.51 billion.
The company generated $1.35 billion in revenue in 2021, which was a significant rise from $1.02 billion in revenue recorded in 2020. Allegro’s GMV growth surged to 20% in Q3 2021. Its 13.3 million new active buyers during the year led to a 5.6% YoY gain. The most recent financial reports for Allegro show that the company’s current revenue is $1.38 billion.
15. Zalando – Market Cap $5.6 Billion
Zalando, a leading European online fashion retailer, received more than 134 million visitors monthly in 2021. Zalando provides e-commerce services in 23 European countries. The business revenue during the second quarter of 2021 exceeded 2.7 billion euros, representing a 34% jump over the same quarter in 2020. Zalando’s market capitalization was $5.62 billion as of September 2022. In the first quarter of 2022, the company generated over 2.2 billion euros in revenue.
The Future of e-Commerce Companies Shines Bright
E-commerce buying and selling is a powerful global trend that is here to stay, and the future looks bright for this industry – even more so when fuel prices decline and when supply chains are made whole again. Meanwhile, the platforms we have listed in this guide are making groundbreaking moves to enhance technology and improve scale and accessibility.
Based on this, the field continues to become increasingly competitive with the arrival of new global players every year, and only the technologically agile and customer-driven e-commerce companies will survive and thrive in this competitive environment over time.
Summary of The 15 Largest E-Commerce Companies In The World
|1||Amazon – Market Cap $1.65 Trillion|
|2||Walmart – Market Cap $361 Billion|
|3||Alibaba – Market Cap $246 Billion|
|4||Meituan – Market Cap $137 Billion|
|5||Pinduoduo – Market Cap $89 Billion|
|6||JD.com (Jingdong Mall) – Market Cap $87 Billion|
|7||Shopify – Market Cap $42 Billion|
|8||Flipkart – Net Worth $40 Billion|
|9||eBay – Market Cap $28 Billion|
|10||Sea Limited – Market Cap $27 Billion|
|11||Suning Commerce – Market Cap $18 Billion|
|12||Trendyol – Market Cap $16.5 Billion|
|13||Etsy – Market Cap $13.7 Billion|
|14||Allegro – Market Cap $6 Billion|
|15||Zalando – Market Cap $5.6 Billion|
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