10 largest e-commerce marketplaces in the world

  • E-commerce is experiencing unprecedented growth year after year. New markets emerge every year around the world.
  • China is currently the largest e-commerce market, with around $ 672 billion in online sales each year.
  • New trends in e-commerce, including the use of technologies such as the Internet of Things, will help the industry to grow.

The e-commerce industry is continuously growing all over the world. With each passing day, new e-commerce markets emerge and established markets take new steps. Here, we took a look at the world’s largest e-commerce markets (in terms of sales) by country and the state of e-commerce trends underway there. If you are considering entering any of the markets below, it is advisable to review local laws for doing business in this area, and if you are looking to grow your own operation, check out this list of the best tools for growing. an e-commerce business.

1. China

Today, China is the world’s largest e-commerce market, led by the e-commerce subsidiaries of Alibaba Group, namely Taobao, Alibaba.com, Tmall and others. With an annual growth rate of 35%, China is also one of the fastest growing e-commerce markets.

Annual online sales: $ 672 billion

Share of e-commerce in total retail sales: 15.9%

2. United States

After dominating the e-commerce world for over a decade, the United States is currently the second largest e-commerce market in the world. Led by e-commerce giants Amazon and eBay, the United States is seeing healthy growth in e-commerce across industries, and for the most part, has been the home of innovation for new e-commerce trends.

Annual online sales: 340 billion dollars

Share of e-commerce in total retail sales: 7.5%

3. United Kingdom

Despite its small size, the UK is a big player in e-commerce and comfortably secures third place on this list. Amazon UK, Argos, and Play.com are the UK’s largest e-commerce sites, and the country also has one of the highest percentages of total e-commerce retail sales.

Annual online sales: $ 99 billion

Share of e-commerce in total retail sales: 14.5%

4. Japan

In fourth position, Japan is the world’s leading player in m-commerce (mobile commerce, which is of course the future of e-commerce). Rakuten is Japan’s leading e-commerce platform, which over the years has acquired many e-commerce sites across the world.

Annual online sales: $ 79 billion

Share of e-commerce in total retail sales: 5.4%

5. Germany

Germany is the second largest e-commerce market in Europe after the UK, Amazon also has a good grip on the German market. eBay and German online retailer Otto are other major e-commerce players in the country.

Annual online sales: $ 73 billion

Share of e-commerce in total retail sales: 8.4%

6. France

Led by local players such as Odigeo and Cdiscount, the French e-commerce market is ranked sixth in the world. As in other major European e-commerce markets, Amazon has a good penetration in France, but local brands have managed to keep the advantage over their American counterparts in the country.

Annual online sales: $ 43 billion

Share of e-commerce in total retail sales: 5.1%

7. South Korea

The country with the fastest wireless internet speed, South Korea, comes in seventh on this list. South Korea is also one of the main m-commerce markets. The biggest e-commerce names in the country are Gmarket and Coupang.

Annual online sales: $ 37 billion

Share of e-commerce in total retail sales: 9.8%

8. Canada

Canada is a huge e-commerce market but with little competition. Quite naturally, Amazon dominates the country’s e-commerce market, followed by Costco. Given the opportunities that Canada presents as an e-commerce market, other foreign brands are also trying to take a part.

Annual online sales: $ 30 billion

Share of e-commerce in total retail sales: 5.7%

9. Russia

At number 9, the Russian e-commerce market is still in its infancy. The country has the largest population of internet users in Europe, but its online sales only account for around 2% of total sales. Ulmart, Citilink, and Ozon are the nation’s largest online retailers.

Annual online sales: $ 20 billion

Share of e-commerce in total retail sales: 2%

10. Brazil

The only South American country on this list, Brazil has a decent e-commerce growth of around 22%. Brazil is certainly on the radar of North American e-merchants, but now local players, namely MercadoLibre and B2W, are leading the way for the country.

Annual online sales: $ 19 billion

Share of e-commerce in total retail sales: 2.8%

Many other e-commerce markets are growing at an impressive rate and may overtake any of the countries listed here in the years to come. The most notable are India and Southeast Asia.

[Read related article: Shopify vs. Square]

The Internet of Things (IoT) will continue to affect e-commerce in 2020 and beyond. According to a study by marketing research firm Zebra, more than 70% of companies will use IoT by 2021 to improve the customer experience. With IoT, businesses can collect data faster for real-time responses. For example, an e-commerce platform can send a customer alert when a product is sold out and automatically purchase it for them.

Another trend in e-commerce will be the increasing availability of retailers across multiple channels. Instead of selling exclusively through a dedicated branded website, businesses will expand their sales channels to include sites like Amazon, eBay, Facebook, and Pinterest.

Ease of payment is a major trend in e-commerce this year. Buyers often abandon their cart after realizing that the checkout process is long and complicated. Online retailers can streamline payment by using payment processors like Payoneer. For more details, we covered how to develop an ecommerce strategy, covering everything from setting goals to determining which channels to focus on.

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