Return to Uzone News Portal
Uzone.id – E-commerce has transformed the way we shop. Imagine browsing millions of products from the comfort of your couch, comparing prices with a few clicks, and having your purchases delivered right to your doorstep. That’s the magic of e-commerce – buying and selling goods and services entirely online.
In recent years, this rapidly growing sector has become popular due to its undeniable convenience. The days of restricted store hours and crowded aisles are gone – e-commerce allows you to shop at any time and from any location, with a greater variety of products available than ever before.
Furthermore, the rivalry among online retailers frequently results in reduced prices, making e-commerce a cost-effective choice for numerous customers.
“E-commerce will account for 10% of global GDP by 2025,” said Jacques van der Merwe, Senior Partner, McKinsey & Company
If you look globally, many e-commerce companies offer their services with their advantages. The following is a list of 5 e-commerce sites with the largest sales in the world.
1. Amazon
Amazon is an American multinational technology company specializing in e-commerce, cloud computing, digital streaming, and artificial intelligence. This company has the largest retail sales in the world today.
Jeff Bezos founded this company in 1994 as a virtual bookstore, and it rapidly diversified its offerings to encompass a wide range of products, including electronics, clothing, furniture, and groceries.
With its headquarters located in Seattle, Washington, Amazon has become the world’s leading e-commerce company, achieving an annual revenue of $513,983 million in 2022. Given its substantial business and remarkable sales figures, it’s not surprising that Amazon’s market capitalization reached $1.45 trillion as of November 2023.
2. Alibaba Group
Alibaba Group is a multinational technology company from China that specializes in e-commerce, cloud computing, digital payments, and financial technology. Alibaba Group is one of the largest e-commerce companies in the world and the most valuable company from China.
Jack Ma is the founder of Alibaba Group, who started his business in 1999 as an online marketplace to more easily connect with consumers. Over time, Alibaba Group grew rapidly and became the second-largest e-commerce in the world.
Alibaba Group managed to record revenues of $32,292 million in June 2023, this figure increased by 14 percent from year to year. This achievement was thanks to online trading and cell phone sales on two trading sites, namely Alibaba.com and Taobao.com. The difference between the two is that Alibaba.com is specialized as a business-to-business site that connects suppliers with buyers, while Taobao.com is a consumer-to-consumer site similar to eBay.
Apart from these two, Alibaba Group also owns AliExpress which is a popular online retail service that sells products to consumers around the world. The company has 925 million monthly active users and 90.2 million monthly visits available in more than 190 countries.
3. eBay
eBay is also an American multinational e-commerce company like Amazon. The company facilitates sales between consumers and businesses through its website. eBay is one of the largest online marketplaces in the world and has been operating since 1995.
Founded by Pierre Omidyar, San Jose, California-headquartered eBay quickly became popular and is credited with revolutionizing the way people buy and sell goods online. Starting from an online auction site, eBay has now developed into a more traditional e-commerce, where people buy and sell new and used items.
There are at least 1.7 billion active eBay ads on the site with 788.6 million visits per month in more than 30 countries. The company, which also owns PayPal, was able to generate revenue of $9.7 billion in 2022.
4. Home Depot
Different from the three e-commerce names above, Home Depot is an American household goods retailer that sells various products such as tools, wood, household equipment, and home decoration. Home Depot is the largest home improvement retailer in the United States.
Home Depot was founded by Bernie Marcus, Arthur Blank, Pat Farrah, Ron Brill, and Kenneth Bruce in 1978. The company quickly became one of the largest home improvement retailers in the United States and has expanded internationally.
Home Depot is known for its wide selection of products and DIY workshops, currently having more than 2,300 stores in the United States, Canada, and Mexico. With its wide reach, this company has an average visit of around 203.6 million per month and can record profits of $157.4 billion in 2022. On the New York Stock Exchange, Home Depot has a market capitalization of $287.89 billion.
5. Walmart
Walmart is an American multinational retail company that operates a network of hypermarkets and discount department stores. Walmart, one of the largest retail companies in the world, was founded by Sam Walton in 1962.
Walmart quickly expanded internationally and is credited with revolutionizing the retail industry. Currently, the company operates 10,500 stores in 24 countries around the world and also operates e-commerce Walmart.com, Jet.com, and SamsClub.com.
This American company has revenues of $572.754 billion in 2022 thanks to 443 million visitors to their site every month. Walmart is also listed on the New York Stock Exchange with a capitalization of $441.2 billion.
“E-commerce has the potential to empower small and medium enterprises (SMEs) and create new jobs, especially in developing countries,” said Shamika Siriwardana, Director, the Division on Information and Communications Technologies and E-commerce, UNCTAD.
