The top 10 e-commerce platforms with the highest revenue in 2020 are announced! Amazon ranks first

It is learned that GlobalData, a world-renowned data analysis company, recently announced the top 10 e-commerce platforms with the highest revenue in the world in 2020. Almost all platforms achieved double-digit growth.

The report shows that Amazon is the e-commerce platform with the highest revenue with $386.1 billion in revenue, a year-on-year increase of 37.6%; followed by JD.com with revenue of $108.1 billion, a year-on-year increase of 29.4%; Alibaba ranks third with revenue of $104 billion, a year-on-year increase of 40.9%.

GlobalData pointed out that Amazon still dominates the US e-commerce market, and its revenue increase mainly relies on consumers buying necessities such as groceries online during the epidemic lockdown, so its online sales also increased by 40%. In 2020, Amazon's sales in North America even increased by more than 40%, with sales of US$75.3 billion.

Amazon’s North American sales grew even more than 40% to $75.3 billion during 2020. Consumers relied so heavily on Amazon’s stores and deliveries that the company temporarily stopped receiving and fulfilling non-essential items so it could keep up with demand for the products that matter most to consumers.

Wayfair ranked fifth, with revenue of $14.1 billion in 2020, a year-on-year increase of 55%, making it the fastest growing e-commerce platform in the U.S. eBay ranked eighth, with more modest revenue growth than other platforms, but its profit growth was the second fastest at 217.3%.

The report noted that 2020 was the first year in Wayfair's history that it reported a profit. Although some believe that Wayfair's high-cost model remains to be proven, 2020 initially proved that the platform's model can be profitable.

It is reported that among the top 10 e-commerce platforms listed by GlobalData, 4 are located in China (JD.com, Alibaba, Vipshop and Pinduoduo), and other platforms include Rakuten in Japan, Coupang in South Korea and Zalando in Germany. Except for Rakuten and Pinduoduo, other platforms have achieved profit growth while increasing sales.

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