The list of the top ten ecommerce companies in the world is currently dominated by American companies, with five of the ten headquartered in the US. This should come as no surprise, given that the US is one of the biggest ecommerce markets in the world.
Currently topping the list of top ecommerce companies is ecommerce giant Amazon. As of August 2020, its market capitalization stands at a whopping $1.645 trillion. This marks an impressive 74.8 percent growth from the start of the year, which is attributed to the coronavirus pandemic and resulting lockdowns across the world as consumers spend more time indoors and online.
Amazon’s current market capitalization is also more than double of its closest rival’s and more than the combined total of the next four biggest online retailers on the list.
The ecommerce company’s revenue has been growing steadily for over a decade. In the 12-month period ending in the second quarter this year, its revenues reached $321.8 billion, a 27.7 percent year-over-year increase.
Incidentally, not only is it the fourth most valuable company in the world but its founder and CEO, Jeff Bezos, is also the wealthiest man in the world.
The second-biggest ecommerce company is China’s Alibaba with a market value of $733.42 billion. While it certainly still has some distance to go before it catches up with Amazon, it is charting a pretty impressive growth path. In fact, Jack Ma’s company has more than doubled its net revenue in the two years spanning 2018 to 2020 from approximately $36 billion to $74 billion.
As the two biggest online retailers, Amazon and Alibaba’s ecommerce have a combined market value of over $2.3 trillion. This makes up more than 60 percent of the total market value of the top 10 ecommerce companies in the world.
Third and fourth on the list of top ecommerce companies in 2020 are also headquartered in the US. Walmart comes in third with a market value of $372.77 billion and is followed by Home Depot with $304.62 billion.
The only ecommerce company in the top five that is not based in the US or China is India’s Reliance Industry. Its market value currently stands at $183.07 billion.
The top ten ecommerce companies in the world are scattered across three different continents, with half from North America, three from Asia, and two from Europe.