The Current State of the Global eCommerce Industry
As economies prosper all over the world, the top 10 largest eCommerce companies in the world are contributing to stellar growth by providing better technology, more convenient services, and more robust and “instant” delivery options. The global eCommerce industry continues to see year-over-year growth in sales figures, but just how much is the global eCommerce industry worth? The global eCommerce market sales reached USD 3.465 trillion last year, mainly due to increased consumer spending as the largest driving factor for this growth.
Leading the way for the top eCommerce companies is Amazon — the largest eCommerce company in the world by revenue. The biggest eCommerce companies after Amazon are Chinese eCommerce conglomerates JD.com and Alibaba Group rounding out the top eCommerce companies by revenue. This post will breakdown the leading eCommerce companies in detail and answer the following questions about the industry:
- What are the world’s largest eCommerce companies by revenue?
- What are the world’s biggest eCommerce companies by market cap?
- What’s the future of the global eCommerce industry?
- What are the global eCommerce industry statistics and trends you should know in 2020?
BizVibe is already helping the top eCommerce companies connect. Connect and track the latest news and insights from these companies.
Global eCommerce Industry Statistics and Trends
- Amazon is the largest eCommerce company in the world by revenue, generating USD 280.5 billion in 2019 revenues.
- Consumers worldwide spent USD 3.46 trillion online in 2019, up from USD 2.93 trillion in 2018.
- Amazon saw web sales growth of 20.0% year-over-year.
- Walmart’s eCommerce platform was the largest riser in eCommerce sales with 38.8% sales growth from 2018 to 2019.
- 57% of shoppers make purchases from overseas retailers.
- 4% of European shoppers make overseas purchases as the highest segment of overseas shoppers.
Top 10 Largest eCommerce Companies in the World 2020
Who are the top 10 largest eCommerce companies in the world by revenue in 2020? The following is a list of top eCommerce companies ranked by their revenue figures in USD billion.
Revenue (USD billions)
|3||Alibaba Group||71.98||Zhejiang, China|
|9||Coupang||6.23||Seoul, South Korea|
Who is the world’s largest eCommerce company by revenue? Amazon is the largest eCommerce company in the world by revenue in 2020 — generating USD 280.5 billion in 2019. Amazon is an American multinational technology company based in Seattle that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon ranks number 1 on this list of the top 10 largest eCommerce companies in the world measured by revenue and market cap as an online marketplace, AI assistant provider, live-streaming platform, and cloud computing platform.
Amazon distributes downloads and streaming of video, music, and audiobooks through its Prime Video, Amazon Music, Twitch, and Audible subsidiaries. Amazon also has a publishing arm, Amazon Publishing, a film and television studio, Amazon Studios, and a cloud computing subsidiary, Amazon Web Services. Amazon is the 3rd largest company in the world by market cap following only Microsoft and Apple. Among the biggest eCommerce companies, Amazon ranks number 1 in market cap.
- Founded: 1994
- Amazon Headquarters: Seattle, Washington, USA
- Amazon Revenue: USD 5 billion
- Amazon Market Cap: USD 1.37 trillion
- Amazon Number of Employees: 840,400
Amazon Products and Services
- Fire Tablet
- Fire TV
- Fire OS
- Amazon Appstore
- Amazon Music
- Amazon Prime
- Amazon Prime Video
- Amazon Web Services
JD.com ranks number 2 on our list of the top 10 largest eCommerce companies in the world by revenue in 2020. Also known as Jingdong, JD.com is a Chinese e-commerce company headquartered in Beijing. JD.com is one of the two massive B2C online retailers in China by transaction volume and revenue (the other being Alibaba). JD.com was founded by Liu Qiangdong on June 18, 1998, and its retail platform went online in 2004. Tencent owns 20% stakes in the company. The company is mainly known for its investments in high tech and AI delivery through drones, autonomous technology, and robots, and possesses the largest drone delivery system, infrastructure, and capability in the world.
JD.com ranks 2nd on this list of the largest eCommerce companies by revenue, generating USD 82.86 billion with a market cap of USD 93.15 billion.
- Founded: 1998
- com Headquarters: Beijing, China
- com Revenue: USD 82.86 billion
- com Market Cap: USD 93.15 billion
- com Number of Employees: 220,000
Ranking 3rd on BizVibe’ s list of the largest eCommerce companies by revenue is Alibaba Group is a Chinese multinational technology company specializing in e-commerce, internet, retail, and technology. Alibaba was founded 21 years ago in Hangzhou, Zhejiang, and provides online sales services via web portals, as well as electronic payment services, shopping search engines, and cloud computing services. In 2017, Alibaba opened Hema, a chain of supermarkets where customers can either order in the store or online for delivery in under 30 minutes. Alibaba generated revenues of USD 71.98 billion in 2020, with a market cap of USD 595.23 — making it one of the top eCommerce companies in the world by both measures.
- Founded: 1999
- Alibaba Group Headquarters: Zhejiang, China
- Alibaba Group Revenue: USD 98 billion
- Alibaba Group Market Cap: USD 595.23 billion
- Alibaba Group Number of Employees: 117,600
Alibaba Products and Services
- Cloud computing
- Mobile commerce
- Mobile media
- TV shows
- Alibaba Cloud
Suning.com is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu Province. After JD.com and Alibaba, Suning.com is one of the top eCommerce platforms in China and generates over USD 38.06 billion with a market cap of USD 83.13 billion. Suning.com sells physical merchandise, such as home appliances, 3C products, books, general merchandise, household commodities, cosmetics, and baby care products, content products, and service merchandise on their eCommerce stores.
- Founded: 1996
- com Headquarters: Nanjing, China
- com Revenue: USD 38.06 billion
- com Market Cap: USD 83.13 billion
Suning.com Products and Services
- Home appliances
- 3C products
- General merchandise
- Household commodities
- Baby care products
- Content products
- Service merchandise
Ranking 5th on this list of the top 10 largest eCommerce companies in the world by revenue is Rakuten, a Japanese electronic commerce and online retailing company based in Tokyo, Japan. Rakuten generated revenues of USD 11.6 billion last year with an estimated market cap currently of USD 12.46 billion. Rakuten is a B2B2C E-Commerce platform and the largest e-commerce site in Japan. In 2005 Rakuten expanded outside of Japan and into international markets through main acquisitions and joint ventures such as buy.com and eBates. Rakuten currently serves 29 countries and regions with over 18,364 employees at the company.
- Founded: 1997
- Rakuten Headquarters: Tokyo, Japan
- Rakuten Revenue: USD 6 billion
- Rakuten Market Cap: USD 12.46 billion
- Rakuten Number of Employees: 18,364
Rakuten Products and Services
- online cash-back
- travel booking
- portal and digital content sites
- Marketing and data analysis
- banking and securities
- credit cards
- life insurance, and
- electronic money
- communication services
- sale of mobile devices
Ranking 6th on this list of the biggest eCommerce companies in the world by revenue is eBay, is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was one of the first and most notable eCommerce platforms founded back in 1995. eBay generated USD 10.8 billion last year and has a current market cap of USD 35.75 billion — making it one of the top eCommerce companies in the world. In addition to eBay’s original auction-style sales, the website has evolved and expanded to instant shopping.
- Founded: 1995
- eBay Headquarters: California, USA
- eBay Revenue: USD 8 billion
- eBay Market Cap: USD 35.75 billion
- eBay Number of Employees: 14,000
- Auction Co.
- eBay Classifieds
Wayfair ranks 7th on this list of the top 10 largest eCommerce companies in the world by revenue, generating USD 9.13 billion last year with a current market cap of USD 19.11 billion. Wayfair is an American e-commerce company that sells furniture and home-goods. Wayfair is a digital platform that offers 14 million items from more than 11,000 global suppliers. The company has offices and warehouses throughout the United States as well as in Canada, Germany, Ireland, and the United Kingdom.
- Founded: 1995
- Wayfair Headquarters: California, USA
- Wayfair Revenue: USD 8 billion
- Wayfair Market Cap: USD 35.75 billion
- WayfairNumber of Employees: 14,000
Zalando is 8th on this list of the largest eCommerce companies in the world by revenue, generating USD 7.26 billion in 2019. Zalando is a European e-commerce company based in Berlin, Germany that follows a platform approach, offering fashion and lifestyle products to customers in 17 European markets. Kinnevik is Zalando’s largest stakeholder, with a 26% share and the company has a current market cap of USD 15.72 billion — making it one of the top eCommerce companies in the world by both revenue and market cap.
- Founded: 2008
- Zalando Headquarters: Berlin, Germany
- Zalando Revenue: USD 26 billion
- Zalando Market Cap: USD 15.72 billion
- Zalando Number of Employees: 15,619
- Connected Retail
- Zalando Lounge
- MyBrands Zalando Verwaltungs GmbH
- MyBrands Zalando eLogistics
- MyBrands Zalando eServices
- MyBrands Zalando eStudios
- MyBrands Zalando eProductions
- zLabels GmbH
Ranking 9th on this list of the top 10 largest eCommerce companies in the world is Coupang, a South Korean e-commerce company founded in 2010 that generated USD 6.23 billion last year. Coupang is the largest online retailer in South Korea with an estimated market cap of USD 5 billion. Coupang claims that 99.6 percent of its orders are delivered within 24 hours. Headquartered in Seoul, South Korea, the company also has offices in Beijing, Shanghai, Los Angeles, Mountain View, New York, and Seattle.
- Founded: 2010
- Coupang Headquarters: Seoul, South Korea
- Coupang Revenue: USD 23 billion
- Coupang Market Cap: USD 5 billion
- Coupang Number of Employees: 10,000
Rounding out BizVibe’s list of the top 10 largest eCommerce companies in the world is Flipkart, an Indian e-commerce company based in Bangalore, Karnataka, India. Flipkart generated revenues of USD 6.1 billion in 2019. Flipkart’s focus is on providing books, consumer electronics, fashion, home essentials & groceries, and lifestyle products. Flipkart has a current market cap of USD 11 billion — making it one of the top eCommerce companies in the world by market capitalization.
- Founded: 2007
- Flipkart Headquarters: Bangalore, Karnataka, India
- Flipkart Revenue: USD 1 billion
- Flipkart Market Cap: USD 11 billion
- Flipkart Number of Employees: 30,000
This is BizVibe’s list of the top 10 largest eCommerce companies in the world in 2020, ranked by revenue. These companies are seeing immense year-over-year growth in sales due to completely meeting the rising demand of consumers for online products. Day-to-day shopping is changing and the top eCommerce companies are leading the way with revolutionizing products, services, and business models.
Top eCommerce Companies in the World by Market Cap 2020
Which eCommerce companies have the most monetary potential going forward? Here are the top 10 largest eCommerce companies by market cap as of 2020.
Market Cap (USD billions)
|2||Alibaba Group||595.23||Zhejiang, China|
|10||Coupang||5||Seoul, South Korea|
- One of the only trillion-dollar companies, Amazon has a market cap of USD 1.37 trillion — ranking number 1 in market cap among the largest eCommerce companies and 3rd overall in the world among all companies.
- The top 6 companies ranked by market cap are all US or Chinese companies.
The Future of the Global eCommerce Industry
As technology keeps advancing, the future of eCommerce is changing. What will remain the same is consumer demand and a shift to online products for all types of products and services. The top 10 largest eCommerce companies are adopting virtual assistants, AI, machine learning terachl0ogies to meet this demand, and improving their products every way possible. The future looks very bright for the top eCommerce companies in 2020 and beyond.