Top Ecommerce Companies in 2023
The list of the top 10 ecommerce companies in the world is currently dominated by US and Chinese firms, with eight of the 10 headquartered in either of these two countries. This should come as no surprise, given that China and the US are the biggest ecommerce markets in the world.
Top 10 ecommerce companies in the world
Currently topping the list of top ecommerce companies is retail giant Amazon. As of July 2023, its market value stands at a whopping $1.4 trillion, the only company that’s currently valued at over $1 trillion. The ecommerce company’s revenue has been growing steadily for over a decade. In the 12-month period ending in the second quarter of 2023, its revenues reached $538 billion, a 10.7% year-over-year increase. Incidentally, its founder, Jeff Bezos, also ranks among the wealthiest men in the world.
Amazon’s current market value is also more than triple that of its closest rival, Walmart, which has a market value of $430.6 billion. Like Amazon, Walmart is also headquartered in the US. This is followed by The Home Depot, another US-headquartered firm, in third place, with a market value of $333.1 billion. Incidentally, Amazon, Walmart, and The Home Depot also rank among the five largest retailers in the US.
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Fourth on the list of the top ecommerce companies is China’s Alibaba, with a market value of $257.7 billion. Jack Ma’s company has grown rapidly in recent years, more than tripling its net revenue in the five years since 2018 from approximately $34 billion, to $119 billion.
The fifth-biggest online retailer in the world is Costco Wholesale Corporation, another US-based retailer. Its market value as of July 2023 is $249.6 billion.
These five biggest online retailers have a combined market value of over $2.6 trillion. This makes up more than 75% of the total market value of the top 10 ecommerce companies worldwide.
Here are the sixth- to 10th-biggest online retailers in the world and their market values:
- Prosus: $240 billion
- Reliance Industries $210 billion
- Pinduoduo $118.7 billion
- Meituan Dianping $114 billion
- Booking Holdings $111.3 billion
The top 10 ecommerce companies in the world are from across three different continents, with four from North America, four from Asia, and two from Europe.
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