One of the most amazing things about modern life is that we don’t have to go to the store anymore. The stores are right there in the palm of our hands. Massive companies have taken away the need for shopping malls and department stores and moved the shelves to the internet. It is big business, with many of these companies making more money than entire countries. The top 12 ecommerce countries in the world right now:
Amazon started off as a bookstore, a humble origin story for what is now a behemoth of a corporation. In 1994 Jeff Bezos, incorporated Amazon.com, naming it after the world’s biggest river. It has grown to become the largest online marketplace on the planet and dominates the cloud service market as well as several other sectors. Amazon is only one of less than a handful to reach a market value of 1 trillion dollars.
JD.com, Inc. (京东; Jīngdōng), also known as Jingdong, is a Chinese e-commerce company headquartered in Beijing. It has a vast product offering and is serviced by an in-house logistics network. It covers everything from fresh food and apparel to electronics and cosmetics. The company was founded in 1998 by current CEO, Richard Liu, but initially suffered as a result of the SARS outbreak. After bouncing back from 2004 onwards, JD.com has seen remarkable growth to become one of the biggest companies in China.
Alibaba.com is the leading platform for global wholesale trade, and was launched in 1999 by charismatic founder Jack Ma. Ma, a former English teacher, is said to have scraped together $80000 from some investors to start the online marketplace. Today, Alibaba accounts for a little over 25% of all retail spending in mainland China. It also has a strong grip on the payments sector, owning Alipay and Ant-Financial.
Suning.com Co., Ltd. formerly Suning Commerce Group Co., Ltd. is among the largest retailers in China, headquartered in Nanjing, Jiangsu Province. Its predecessor was an air conditioner retail store, and its modern iteration was incorporated in 1996. They are primarily engaged in the retailing of domestic appliances, digital products, and communication products.
Meituan (美团 Mĕituán) is a Chinese corporation that functions as a web-based shopping platform for locally found consumer products and retail services. It is China’s biggest platform for smartphone-ordered lifestyle services.. The company is headquartered in Beijing and was founded in 2010 by Wang Xing, who finally found success after a string of failed ventures.
Otto is a German digital retailer that provides a wide range of fashion goods. They only trail Amazon as the largest e-commerce platform in Germany. It was founded by Werner Otto in 1949 in Hamburg. Under Sebastian Klauke, their Chief Digital Officer, Otto has undergone a digital transformation that has seen it transform into one of the biggest players in the industry.
Rakuten is a Japanese word that translates to “optimism”. The Japanese online store has risen to global prominence from their jersey sponsorship of FC Barcelona but is definitely a major player in the Japanese economy. The company was founded by Hiroshi Mikitani on February 7, 1997, and is headquartered in Tokyo, Japan
Ebay is an online marketplace with a history of connecting millions of buyers with sellers worldwide. eBay products are usually sold in an auction-like system, with the highest bidder purchasing the good, or via the Buy It Now features that enable its users to purchase items at a set price. Its featured products are categorized as fashion, hope and garden, electronics, motors, collectibles, antiques, visual art, stationery, electronics, and more. eBay was founded in September 1995 by Pierre Omidyar in San Jose, California.
Wayfair was founded in 2002 by Cornell graduates Niraj Shah and Steve Conine. The two carefully analyzed internet searches and came up with an idea to sell home furnishings. Today, Wayfair tops the list of online retailers of home goods in the US. The company is based in Boston, Massachusetts, and has additional offices in Utah, Kentucky, New York, Galway, Ireland, London, England, and Berlin, Germany.
Chewy, Inc. retails pet food and other pet-related products. Founder Ryan Cohen initially wanted to launch an online jewelry business but changed his mind when he realized the opportunity available in the pet industry. Chewy is headquartered in Dania Beach, Florida. In 2017, Chewy was sold to PetSmart for $3.35 billion, in what was the largest-ever acquisition of an e-commerce business at the time.
Zalando is a German e-commerce giant based in Berlin. Zalando was founded in 2008 and initially operated under the name Ifansho. Their company culture is built on four pillars of success, namely customer focus, speed, empowerment, and entrepreneurship. The company now focuses on sustainability, with aims to increase its sustainable product collection tenfold by 2023.
Home Depot is the largest home improvement retailer in the United States. In 1978, Bernie Marcus and Arthur Blank envisioned a store where they could channel their DIY passion and provide customers with a variety of home-themed merchandise. Home Depot opened its first two stores in Atlanta shortly after. Today, the company leads the Home Improvement industry, holding 47% of the market share.
Big data and AI are at the core of how many of the biggest technology companies are growing, with many e-commerce giants using the information they gain from their customers to stay ahead and adopt new technologies. The competition in this field is stiff, and any slip-up could result in new players taking the opportunity to dominate the lucrative field of electronic commerce.