It’s the time of year when we look back at who has made the most waves in their respective industries. Some people might be wondering which are the Largest eCommerce companies in the world that are taking over this industry.
The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen. This article takes a look at the 12 Largest eCommerce Companies in the world and how they’ve fared up until now! It’s interesting to see that many of these companies are still going strong, so it might be worth your time researching them before making any decisions.
What is eCommerce?
Buying and selling online is a great way to make money. E-commerce is typically conducted over a computer network such as the Internet. Still, it can also carry out offline by using an automated checkout system with cashier terminals at stores to make more accessible customer purchases. The history of eCommerce started in 1971 when Michael Aldrich set up the “Very first online shopping system” for a Lompoc, California Quiznos sandwich shop.
We look at more significant than other people of Greater Rank within our industry for this week’s post! These Larger Or More Important Than Others will rank from number one being the largest to twelve being minor but still more considerable enough for you to know them!
E-commerce has been yet another industry that received an unexpected boom with the lockdowns becoming effective worldwide and massive consumer behavior changes. A survey from McKinsey found that about 40% of Chinese consumers plan to buy goods overseas this year. They are looking to take advantage of tariffs on luxury US imports imposed by President Trump’s administration. As a result, the Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
Which eCommerce company is the biggest?
The largest eCommerce companies are the ones that are dominating this industry. Therefore, they will be ranked from number one to twelve. Number 12 is a less critical company but still big enough for people to know it.
12 Largest eCommerce Companies in the World:
1. Amazon
With a net worth of $770 billion, Jeff Bezos’ brainchild has been one to watch as it continues to grow its empire year after year. What started with just books has now expanded to include clothing, food, and much more. As a result, the Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
Amazon was founded in 1994, initially focused on selling books online—a revolutionary idea at the time! However, in 1998 Amazon diversified into selling DVDs and CDs before adding games, consumer electronics, furniture, and many other product lines. It also produces its brands of home appliances.
The Largest eCommerce Company in the world for you to know it’s one that started from just books but then moved onto a lot more things like clothes (and lots more), which will be the next thing we talk about when talking about Larger Or More Important Than Others Larger Or More Important Than Others.
2. Alibaba
Alibaba is a Chinese multinational computer technology company headquartered in Hangzhou with operations mainly in Asia. It was founded by Jack Ma and initially focused on business-to-business trading for small businesses before expanding into retail sales and other services such as digital payments.
Alibaba is a company that has different things. One thing they have is an e-commerce platform that helps you buy stuff online. They also have Alipay, which enables you to pay for things.
Alibaba revenue in 2020 was $60 billion. The company is a global leader in cross-border commerce and the world’s most comprehensive B2B online marketplace. With over 500 million product listings, fulfillment by Amazon (FBA), Alibaba group’s cloud computing arm AliCloud, operates the world’s largest online shopping website.
3. eBay
eBay Inc. is an American multinational eCommerce company based in San Jose, California. It operates a worldwide online marketplace and takes care of most of its customers, including product catalogs, seller management, order fulfillment, and customer service.
eBay was founded in 1995 to complement the auction site (also called “eBay”) that would serve as the only significant example of a successful business-to-consumer eCommerce model. The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
4. Rakuten
Rakuten Group, Inc. is a Japanese e-commerce and Internet company headquartered in Tokyo, Japan. The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
Rakuten revenue in 2021 31.8 billion US dollars. The Rakuten Group includes the American e-commerce website Ebates.com, among others.
The Largest company to know on this list that sells other things besides clothes is one where you can buy all sorts of different stuff, like a computer (and more).
5. Shopify
Shopify Inc. is a Canadian e-commerce company headquartered in Ottawa, Ontario, developing computer software for online stores and retail point-of-sale systems.
The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
In 2011 Shopify was named one of Canada’s “Top Ten Innovators” by MIT Technology Review magazine. In 2014 it received $100 million from OMERS Ventures, Polaris Partners, and Bessemer Venture Partners. The Rakuten Group includes the American e-commerce website Ebates.com, among others.
This company has been around since 2004, so it’s pretty old but not like ancient, which would be another word you could use (or different words that start with other letters).
6. Flipkart
Flipkart is an Indian company headquartered in Bengaluru, India. The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
The company was founded in 2007 by Sachin Bansal and Binny Bansal (unrelated). Flipkart’s first product was booked, but then it expanded into other categories such as fashion and consumer electronics.
In 2012, Flipkart acquired a controlling stake in NowFloats -a social shopping platform- from Mumbai-based investment firm Tiger Global Management for $50 million. In 2014, Amazon invested $300 million ($1800 crore) in exchange for equity stakes of about 40% of the company making up their second-largest stake in an Indian company after their investment into Snapdeal.
Flipkart is now valued at $11 billion and has a net worth of around $600 million as of October 2015.
7. Walmart
Walmart Inc. is an American multinational retail corporation that operates hypermarkets, discount department stores, and grocery supermarkets.
The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and publicly traded on the New York Stock Exchange in 1972. Walmart’s headquarters are located in Bentonville, Arkansas, where it has been headquartered since its founding.
In 1998 Walmart acquired Sears for $11 billion with no cash down because they got shares instead, but this might not be true (or at least my research came up inconclusive). In 2000 it took over control of their Mexican division Walmex from founder Carlos Slim.
Walmart has taken steps to expand the company’s retail grocery market share by challenging supermarkets, starting with larger “supercenters” in 1988 and then moving into smaller markets at lower prices from 2003 onward. In addition, in 1994, Walmart introduced a new concept called Sams Club, a discount warehouse store that employs self-checkout technology for customers willing to pay an annual membership fee.
In 2015 it was reported that Walmart stores west of the Mississippi River had been redesigned and updated, so they were more competitive against Costco and other big-box retailers.
8. Wayfair
Wayfair, Inc. is an American multinational Largest eCommerce company that sells home furnishings and decor worldwide.
This company was founded in 2002 by Niraj Shah (), Steve Conine (), and Jens Christensen (). It launched its website on August 21, 2003, out of a Boston apartment. In 2006 it relocated its headquarters from Beverly, Massachusetts, into downtown Boston’s Financial District, where it occupied two floors inside the building known as 100 Summer Street (formerly The John Hancock Tower).
In 2007 Wayfair began operations in Canada. This year also saw it open new distribution warehouses for long-term storage and fulfillment facilities to improve its supply chain.
In 2008 the company was featured in Forbes’ second annual list of America’s 200 Best Small Companies. In 2009 it hired a new CEO, Brian Jett, who previously served as eBay North American head of category management and merchandising.
Wayfair has grown from not being ranked on Fortune 500 companies to ranking 226th in 2016.
It is now valued at $11 billion and has a net worth of around $600 million as of October 2015.
9. Best Buy
Best Buy Co., Inc. (stylized as best buy) is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota, and sells at retail locations and online.
In 1966 Richard M. Schulze founded the company to operate a stereo store named Sound of Music; he opened his first Best Buy store in 1967. The focus of the business gradually shifted from stereos to television sets once they became affordable enough for most people’s budgets. In 1983 it was one of two stores that sold personal computer systems.
Schultz again re-franchised all territories dedicated to non-Sound Of Music products on June 26, 2007, closing all 169 locations outside Minneapolis and St Paul metropolitan areas, leaving only four specialty outlets operating: those in New York, San Francisco, Salt Lake City, and Honolulu. This was to focus on the core company operations, including e-commerce.
10. JD.com
JD.com, Inc., usually referred to as JD or Jiadu, is a Chinese electronic commerce company headquartered in Beijing and Hong Kong. The Largest eCommerce Companies list is constantly shifting as some have fallen by the wayside while others have risen.
JD was established in 1998 and reincorporated on July 20, 2004, following a merger with its rival company 360buy… JD has been growing exponentially since it first started; it went from less than $100 million in revenue in 2003-2004 to more than USD 28 billion just 15 years later (in 2017). They’ve also grown their employees from 650 staff members when they were founded to more than 100,000 staff today.
11. Suning.com
Suning Commerce Group Co., Ltd. is a Chinese electronic commerce company headquartered in Nanjing, Jiangsu Province, and operates through its online shopping platform. Sun Yuxin founded it on October 25, 1996, as an electronics retailer named ‘Sun International.’
In 1999 it became one of China’s first state-owned enterprises to go public on the Shenzhen Stock Exchange.
It has since developed into a trade group encompassing retail (e-commerce), investment, and finance sectors, including traditional brick & mortar stores, department stores, specialty chains such as sports goods chain XX Sports, fashion brands like MNG, and home appliance brand QCC.
12. Meituan-Dianping
Meituan-Dianping is a Chinese social commerce platform that provides comprehensive services for booking restaurants, ordering food delivery, finding movies to watch, and providing group buying deals.
It offers users online reservations of restaurant seats in real-time. It also has an app that lets customers order takeout or dine-in at any 68 million restaurants on its list.
On April 22, 2015, the company was founded by Wang Xing with backing from Tencent Holdings Inc., Blue Pool Capital Fund Management Co Ltd.
Conclusion
Lockdowns are happening all over the world. People are changing the way they do things. E-commerce has been yet another industry that has received an unexpected boom, with these two significant events happening simultaneously.
Do you know which eCommerce company is the largest in the world? The answer might surprise you. We’ve compiled a list of 12 of the largest online retailers with over $1 billion in revenue and ranked them by their total global annual turnover, according to Market Watch’s most recent rankings (2018). If we missed any, let us know!
