Electronic commerce

The World’s Largest Ecommerce Markets

• The World’s Largest Ecommerce Markets
• In 2020, China emerged as the world’s biggest ecommerce market, which was valued at USD 2,779.31 billion. It’s expected that the Chinese market will retain the lead through 2025, with its CAGR predicted to increase to 8.2% in 2025. 
• The US ecommerce market follows China, with a 2020 revenue of USD 843.15 billion. Europe is the world’s third largest ecommerce market, with a collective revenue of USD 387.65 billion in 2020 generated from the UK, Spain, France and Germany.

The World’s Top 50 Ecommerce Companies

• The World’s Top 50 Ecommerce Companies
• 1. Amazon
• Amazon dominates the industry as its revenue continues to grow year after year. In January 2022, it had a market value amounting to USD 1.649 trillion. Compare that to 2020’s market value of USD 941 billion and 2021’s USD 1.634 trillion. 
• Aside from Amazon’s consistent YoY annual revenue growth, which hit approximately USD 111 billion in 2021, it has also enjoyed a steady increase in monthly site visits. In 2021, it raked in an average of 5.2 billion visits every month from both mobile and desktop sources. 
• Visitors spent an average of 6 minutes on Amazon, browsing through 8.58 pages with each visit. What’s even more amazing is that, on average, customers complete 28% of their purchases within a span of 3 minutes or less. Amazon founder Jeff Bezos noted that half of all the purchases on Amazon are completed in less than 15 minutes.
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• Over the years, Amazon has grown to become one of the world’s most influential ecommerce companies. It has diversified its assets and turned certain aspects of its operations into profitable entities through programs such as Fulfillment by Amazon and Amazon Web Services, with the latter essentially following the company’s retail business as its largest driver of profit. 
• Amazon Prime Day also generates a sizable revenue for the company. In 2021, more than 250 million items were purchased by Prime members worldwide. 
• Another factor that contributed to Amazon’s growth is its investment in making the online shopping experience more convenient by speeding up deliveries. In early 2020, Amazon effectively reduced the delivery time from 3.4 days to only 2.2 days. 
• 2021 was a great year for Amazon, particularly during the Cyber 5 shopping weekend. While other retailers faced disruptions in their supply chains and had issues with their inventories, Amazon enjoyed increased website traffic. On Thanksgiving, website visits jumped to 23.9% in 2021, pointing to an almost 2% increase to 2020’s 22.1%. In 2021, Amazon’s web traffic also increased during Black Friday, Saturday, Sunday, and Cyber Monday.