The top ecommerce companies in the world are the ones that have managed to pinpoint the rising consumer trends, identify new growth opportunities and stay competitive. The pandemic era has resulted in a huge shift from all-retail brick-and-mortar stores to online retail businesses.
There are many e-commerce companies in the world like Amazon, Home Depot, CSN Stores and the Japanese ecommerce company Rakuten Group that have created successful ecommerce businesses as well as a loyal customer base for convenient purchases and sales of goods and services. Online retail companies have their own online store and ecommerce website that can be easily accessed by customers through the internet.
There was a time when customers wanted to see physical products and then make a purchase but the new generation prefers to purchase everything like day-to-day food items, vintage products, fashion items, apparel and electronics etc. from ecommerce platforms that sell directly.
Let us go through the largest ecommerce companies in the world to know about the type of online business they operate for instance business to business or business to consumer, consumer to business or consumer to consumer and understand why they are gaining immense popularity over a brick and mortar store in the recent years.
Table of Contents
An Overview of 10 Top E-Commerce Companies in the World in 2024 Based on Market Value
1. Amazon.com, Inc.
- Origin Country: United States of America
- Founder: Jeff Bezos
- Established: 1994
- Headquarters: Seattle, Washington, U.S.
- Employees in 2022: 1,608,000
- Annual Revenue in 2022: 502.191 billion USD
- Net Income in 2022: 11.323 billion USD
- Total Asset Size in 2022: 420.55 billion USD
- Market Capitalization in 2022: 943.55 billion USD
- Market Value in 2022: 1.649 trillion USD
The American technology company Amazon.com, Inc. is one of the largest ecommerce companies in the world in 2024 based on market value. At the onset, it was simply an online bookstore but with time the company has expanded to include a wide variety of products and services like Echo, Kindle, Amazon.com and Amazon Prime etc. in its portfolio.
The ecommerce giant primarily operates as an online marketplace and in 2022 has become the largest online retailer in the world and the second-largest private employer in the USA.
Amazon.com is a successful ecommerce platform where businesses and consumers can purchase digital and physical products and subscription services. The online marketplace has 350 million SKUs and is the 14th most visited ecommerce website in the world in 2022 with 2+ billion visits to Amazon.com per month.
Amazon’s ecommerce website is country-specific and the search results are determined by promotional fees. The business-to-consumer, business-to-business and consumer-to-consumer ecommerce business model is an online marketplace for the brand’s own products, third-party sellers who want to target potential customers and sell online, affiliate programs and merchant partnerships.
2. Home Depot
- Origin Country: United States of America
- Founded: 1978
- Headquarters: Atlanta, Georgia, USA
- Employees in 2022: 490,600
- Annual Revenue in 2022: 132.11 billion USD
- Net Income in 2022: 16.885 billion USD
- Market Cap in 2022: 275.06 billion USD
- Market Value in 2022: 411.02 billion USD
The American retail company The Home Depot is ranked 2nd in the list of the 10 top ecommerce companies in the world in 2024 based on market value. The fastest-growing business-to-business and business-to-consumer store is the largest home improvement speciality retailer in the U.S. and the world.
Home Depot generates a good chunk of its sales from business customers and has successfully integrated online shopping orders with distribution centres. Product offerings include home appliances, hardware, tools, lumber, flooring and building materials etc.
Like many e-commerce companies, Home Depot has both brick-and-mortar and online store where the company offers innovative options like BODFS (deliver from store), BOPIS (pickup in-store) and BORIS (return in-store) so that customers can buy online from the ecommerce store and choose the desired option.
3. Walmart
- Origin Country: United States of America
- Founder: Sam Walmart
- Founded: 1962
- Headquarters: Bentonville, U.S
- Employees in 2022: 2,300,000
- Annual Revenue in 2022: 600.112 billion USD
- Net Income in 2022: 8.967 billion USD
- Brand Value in 2022: 111.918 billion USD
- Market Cap in 2022: 391.87 billion USD
- Market Value in 2022: 401.91 billion USD
The American retail company Walmart is ranked 3rd in the list of the 10 top ecommerce business companies in the world in 2024. The family-owned business operates 10,586 brick-and-mortar outlets and clubs under 46 names in 24 countries. It is the largest company based on revenue and the largest private employer in the world.
The global e-commerce company primarily operates as a business-to-business and business-to-consumer business through its own online store Walmart.com. It is a household name in the U.S. market through physical brick-and-mortar stores and online presence with 100 million+ unique visitors per month.
The ecommerce company has introduced innovative solutions, curbside pickup, a scanning app, a membership program and same-day pickup to encourage physical and online shopping.
4. Alibaba Group Holding
- Origin Country: China
- Founder: Jack Ma
- Founded: 1999
- Headquarters: Yuhang, District, Hangzhou, China
- Employees in 2022: 254,941
- Annual Revenue in 2022: 131.368 billion USD
- Net Income in 2022: 2.455 billion USD
- Market Cap in 2022: 226.81 billion USD
- Market Value in 2022: 351.9 billion USD
The Chinese technology company Alibaba Group is ranked 4th in the list of the 10 top ecommerce companies in the world based on market value. It is one of the largest retailers as well as e-commerce business companies in the world dealing in online retail, brick-and-mortar physical stores, technology and the internet.
Alibaba is the largest e commerce marketplace with a wide range of products and services like mobile media, retail, e-commerce and Taobao etc.
Alibaba Group operates in several business sectors and offers business-to-business, business-to-consumer and consumer-to-consumer sales services through cloud computing, shopping search engines, electronic payment and web portals services. The B2B service helps customers to deal directly with manufacturers and buy online in bulk. Small business companies opt to target sales through an online store.
5. Prosus
- Origin Country: Netherlands
- Headquarters: Amsterdam, Netherlands
- Parent: Naspers Limited
- Employees in 2022: 30,413
- Annual Revenue in 2022: 6.866 billion USD
- Net Income in 2022: 18.733 billion USD
- Market Cap in 2022: 135.73 billion USD
- Market Value in 2022: 254.55 billion USD
The investment group Prosus is ranked 5th in the list of the 10 largest ecommerce companies in the world. It is one of the largest technology investors and consumer internet groups in the world that operates across different sectors with growth potential.
Nearly 1.5 billion people have used the products and services of the investments and businesses of the company. The expansion of Prosus into internet platforms spans social, food, travel and e-commerce sectors. With investments in eMag, Ula and merXu etc, it has become one of the largest ecommerce online companies in the world.
6. Costco Wholesale Corporation
- Origin Country: United States of America
- Founder: James Sinegal, Jeffrey Brotman
- Founded: 15th September 1983
- Headquarters: Issaquah, Washington, USA
- Employees in 2022: 304,000
- Annual Revenue in 2022: 226.95 billion USD
- Net Income in 2022: 5.84 billion USD
- Market Cap in 2022: 211.86 billion USD
- Market Value in 2022:237.76 billion USD
The American company Costco Wholesale Corporation is ranked 6th in the list of the 10 top e-commerce companies in the world based on market value. It operates big-box format membership-only 842 warehouses or retail stores and is currently the fifth largest retailer in the world.
Costco is one of the most popular online companies with a wide range of products and services. The ecommerce site serves as an online bookstore and also offers other products like clothing, fresh produce, solar panels, home electronics and home appliances etc.
The online shopping site Costco.com was opened in 2001 but the e commerce store saw unprecedented growth in total sales during and after the pandemic.
7. Reliance Industries
- Origin Country: India
- Founder: Dhirubhai Ambani
- Founded: 1973
- Headquarters: Mumbai, Maharashtra, India
- Employees in 2022: 342,982
- Annual Revenue in 2022: 99 billion USD
- Net Income in 2022: 8.5 billion USD
- Market Cap in 2022: 204.27 billion USD
- Market Value in 2022: 220.76 billion USD
The Indian conglomerate Reliance Industries is ranked 7th in the list of the 10 top e-commerce online companies in the world. In India, it is the largest public company by market cap and the largest company by revenue.
Reliance Industries has a vital presence through 1,466 brick-and-mortar outlets and online stores in the e-commerce industry through its subsidiaries like Reliance Digital, Urban Ladder, Reliance Fresh, Reliance Home Kitchens and Reliance iStore etc.
8. Meituan
- Origin Country: China
- Founder: Wang Xing
- Founded: 2010
- Headquarters: Beijing, China
- Employees in 2022: 58,390
- Annual Revenue in 2022: 28.141 billion USD
- Net Income in 2022: -3.698 billion USD
- Market Cap in 2022: 145.74 billion USD
- Market Value in 2022: 160.51 billion USD
The Chinese e commerce marketplace Meituan is ranked 8th in the list of the top ecommerce online companies worldwide. It is an online shopping platform for retail services and local consumer products.
There are many e-commerce companies in China but the Meituan e commerce store is one of its kind as it is one of the largest on-demand and online platforms. The Meituan site operates different websites and apps for various services and offers group discounts and daily deals by selling vouchers.
9. Shopify
- Origin Country: Canada
- Founder: Tobias Lutke, Scott Lake and Daniel Weinand
- Founded: 2006
- Headquarters: Ottawa, Ontario, Canada
- Employees in 2022: 10,000
- Annual Revenue in 2022: 5.245 billion USD
- Net Income in 2022: -3.208 billion USD
- Market Cap in 2022: 42.57 billion USD
- Market Value in 2022: 142.34 billion USD
The Canadian SaaS company Shopify is ranked 9th in the list of the 10 top e-commerce companies in the world. The ecommerce platform includes retail point-of-sale systems and online stores and offers several services for a monthly fee to small businesses and online retailers who want to sell directly like shipping, marketing, financial tracking, payment processing, loans and all the tools for customer engagement.
Although Shopify primarily operates as a business-to-consumer platform the online store is also used for B2B purposes. The ecommerce giant is one of the fastest-growing ecommerce platforms in Canada for online shopping with 1.7 million businesses in 175 countries, 1.16 billion average monthly visitors every month and 1.58 million websites on its online platform.
10. Target Corporation
- Origin Country: United States of America
- Founder: George Dayton
- Founded: 1902
- Headquarters: Target Plaza, Minneapolis, Minnesota, U.S.
- Employees in 2022: 450,000
- Annual Revenue in 2022: 108.721 billion USD
- Net Income in 2022: 3.448 billion USD
- Market Cap in 2022: 65.89 billion USD
- Market Value in 2022: 110.57 billion USD
The American company Target Corporation is ranked 10th in the list of the 10 top e-commerce companies based on market value. The department store chain operating on a big-box format is the 7th largest retailer in the U.S. market.
The business-to-consumer company operates 1,938 brick-and-mortar outlets and like many e-commerce companies have its own online store Target.com. The ecommerce store has an extensive footprint alongside the retail stores.
Target sells numerous products like home décor, fashion items, clothing, furniture, pet supplies, groceries, consumer goods and electronics etc. to maintain its customer base. The ecommerce site has nearly 192 million unique visitors per month.
Conclusion
In the past few years, several small business entities have decided to target the market through social media platforms as this helps to lure in new customers who are interested in online shopping through ecommerce sites.
The ecommerce businesses are here to stay and the companies that have become household names are the ones that have managed to stay on the list of the 10 top e-commerce companies in the world in 2024 based on market value.
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