- Ecommerce is a big business, as evidenced by the increasing number of people shifting to online shopping.
- Data shows that in 2017, online shoppers spent $2.3 trillion in eCommerce stores. The numbers further increased when the pandemic hit and people started buying necessities online.
- The top 9 eCommerce companies that make the most money based on their annual revenue include Amazon, JD.com, Alibaba, Suning, Rakuten, Apple, eBay, Wayfair, and Flipkart.
In 2017, over 1.66 billion shoppers spent a whopping $2.3 trillion online. When the pandemic hit, people were more inclined to buy necessities and other things online to avoid crowds. In 2020, over two billion people shopped online, and e-retail sales surpassed $4.2 trillion, according to Statista.
With eCommerce obviously getting attention these days (and probably in the future), you might be wondering which eCommerce companies make the most money per second.
In this post, we’ll take a look at some of the biggest players in the industry and see how they stack up against each other. If you’re curious about which company is making the most money right now, keep reading!
eCommerce Companies That Make the Most Money Based on Revenue
Below, we’ve compiled the top 9 worldwide eCommerce companies that make the most money based on their annual revenue.
Revenue FY2021: $469.82 billion or $14,897.89 per second
Every person with access to the internet probably knows about Amazon. Amazon, founded by Jeff Bezos in 1994, is one of the most popular eCommerce platforms in the world. When the global pandemic hit, Amazon became the go-to online store for both essential and non-essential purchases. Whether it’s toilet paper, sanitizers, laundry detergent, work-from-home essentials, and others, people went on the platform to get whatever they needed.
And as expected, Amazon’s sales soared up to 220% as people in North America shifted to online shopping. The company generated approximately $386.06 billion in revenue in 2020 and $469.82 billion in 2021. According to CNBC Make It, Amazon made $837,330.25 in revenue per minute during the first quarter of 2021 and by the end of the year, their revenue reached $469.82 billion! If you do the math, that’s $14,897.89 per second!
Revenue FY2021: $149.3 billion or $4,734.3 per second
If the United States has Amazon, China has JD.com. Formerly known as 360buy, JD.com was founded by Richard Liu, who is also known as China’s ‘Jeff Bezos’. This Chinese eCommerce giant is one of the biggest competitors of Tmall, which is owned by Alibaba, another eCommerce giant in China. Like Amazon, JD.com sells electronics, home appliances, and other merchandise like books and music. It also offers a Plus membership that works similar to that of Amazon’s Prime subscription.
What separates JD.com from Amazon is that consumers can get the items at an affordable price. They can also buy in bulk at a much lower cost, which is a notable selling point for the company.
Today, JD.com has over 500 warehouses and approximately 7000 delivery stations worldwide. While Amazon relied on third-party shipping companies before the demand increased, JD.com handles their shipping and logistics internally. This allowed the company to fulfill orders and ship them to the consumers on the following day.
During the fiscal year 2020, the company generated approximately $114.3 billion in sales and $149.3 billion in 2021, representing a 27.6% increase from the previous fiscal year. Doing the math, JD.com generates approximately $4,734.3 of revenue per second.
Revenue FY2021: $131.11 billion or $4,157.5 per second
Alibaba Group Holding Limited is a multinational Chinese company founded in 1999 in Hangzhou, China. The international eCommerce giant specializes primarily in wholesale trade, which is a key feature that differentiates it from Amazon and JD.com.
Moreover, while other eCommerce companies operate under one company, Alibaba is split into three websites – Taobao, Tmall, and Alibaba. Each of these sites targets different audiences: Taobao is a consumer-to-consumer eCommerce platform, while Tmall is a B2C platform. AliExpress is aimed at international shoppers, particularly those from Russia, Brazil, Spain, and the United States.
Alibaba generated a revenue of $109 billion in 2020, and in 2021, the platform generated a revenue of $131.1 billion, which is equivalent to $4,157.5 per second.
Revenue FY2020: $39.5 billion or $1,252.5 per second
The retail company, Suning, is a Chinese retail company that established its empire on household appliances and electronics. The company, headquartered in Nanjing, China, was founded in 1990, and since then, it has established over 2,649 branches all over China. The company only shifted to online retailing in 2012. Today, Suning is the third-largest Chinese eCommerce company after JD and Alibaba.
Aside from home appliances and electronics, Suning also sells basic home necessities, cosmetics, and more. In 2020, Suning generated $39.5 billion in revenue. The company has not released its financial report for 2021.
Revenue FY2021: $32 billion or $1,014.7 per second
Apple Inc. is a multinational American tech company founded by Steve Jobs and Steve Wozniac in 1975 in Los Altos, California. The company has one goal in mind – to create products that will enrich people’s lives. From that goal came the rise of smartphones, particularly, the iPhone series. In 2021, Apple was valued at $2 trillion, making it the highest-valued tech company in the world.
When Steve Jobs took on the spot as the company’s CEO in 1997, the company continued to grow immensely. From the 8,000 employees and $7 billion revenue in 1997, the company grew and the number of employees went up to 137,000 and their revenue grew to $260 billion in 2019. In 2020, the tech giant reported that they collected $32 billion in their online sales, which made up 12% of Apple’s revenue that year.
Revenue FY2021: $13.7 billion or $434.4 per second
Wayfair, formerly CSN Stores, is another American eCommerce platform founded in 2002 in Boston, Massachusetts. Unlike eBay and Amazon, the company specializes in selling furniture and home goods such as cookware, decorations, appliances, etc. The company offers more than 14 million items sourced from over 11,000 suppliers globally.
Wayfair has over 16,000 employees serving 30 million active customers worldwide. It has warehouses in several states in the United States and abroad, including the United Kingdom, Germany, Canada, and Ireland.
Recent financial reports state that Wayfair generated an annual revenue of $13.7 billion in 2021, representing a 2.8% decrease from their 2020 revenue.
Revenue FY2021: $13.69 Billion or $434.1 per second
Rakuten is the biggest eCommerce platform in Japan. The B2B2C eCommerce company is based in Tokyo, and it currently holds 10% of the total eCommerce shares in the country. Rakuten operates an online mall for big Japanese brands, and it also offers financial, video, and communication services through its subsidiaries worldwide.
While it initially served the Japanese population, Rakuten expanded its reach and entered the international market through acquisitions and joint ventures with other eCommerce companies like buy.com and eBates. Today, Rakuten ships products to international shoppers from countries such as the United States (buy.com), the United Kingdom (Play.com), and France (PriceMinister).
According to the company’s latest financial reports, Rakuten generated a revenue of $13.69 billion in 2021. The company currently serves more than 29 countries and employs over 18,364 workers.
Revenue FY2021: $11.739 billion or $372.2 per second
eBay is one of the earliest eCommerce platforms in the United States. Established in 1995, the platform started as an auction website where people sell used products or collectibles. Eventually, eBay evolved and became more than just a website where consumers can sell to other consumers. While it still hosts auctions for specific items, the majority of the listings on eBay are now brand new and sold at fixed prices.
eBay is also striving to make its platform more like Amazon. It now offers 3-day guaranteed shipping and categorizes product listings to make it easier for consumers to find the best price for a particular item. Aside from the shipping benefit, eBay also features their Best Price Guarantee, which offers rebates on the differences between similar items listed in eBay and any of the competitors’ sites.
eBay generated a revenue of $11.739 billion in 2021, qualifying it as one of the top eCommerce companies in the world.
Revenue FY2021: $5 Billion or $158.5 per second
FlipKart is an India-based eCommerce platform founded in 2007. When the website was launched, it quickly became one of the largest eCommerce platforms in India. It has over 200 million members with access to various listings such as books, consumer electronics, fashion, home essentials, and even groceries. Recent financial reports show that it generated revenue amounting to $5 billion for 2022.
Walmart acquired 77% of Flipkart’s share in 2018. Although the company still operates independently, even with Walmart owning a majority of it, it’s highly possible that Walmart will consolidate both entities. If that happens, Walmart’s influence, along with FlipKart’s mobile-friendliness, design, and customer service, may make the eCommerce platform a potentially worthy competitor against Amazon.
The Bottom Line
If the list above has taught us anything, it’s the fact that eCommerce is, indeed, a big business. In fact, it’s one of the biggest businesses in the world. From Amazon to Alibaba, these businesses are raking in billions of dollars in sales each year- proving that online shopping is here to stay.
If you’re looking to invest in eCommerce companies and are looking for the most prominent players in the field, or just plain curious about which eCommerce companies make the most money, the list above can be a helpful guide.