Needless to say, there are millions of e-commerce companies running in the world. However, few e-commerce companies have been able to attract enough traffic. The list contains the names whose sales revenue topped billions and trillions in the previous year.
In this article, we will discuss the fastest growing eCommerce companies that brought about a significant amount of impact on the world. This is especially true after the spread of COVID-19; it accelerated the growth of many e-commerce platforms.
After enough research and analysis, we have been able to list some of the top companies. It may help you save some time looking for authentic e-commerce businesses for your company. Hopefully, this guide will let you have an idea about their growth trends and market shares.
List of the Top 20 Fastest Growing Ecommerce Companies
Amazon is one of the best and fastest growing eCommerce companies in the world. It has successfully obtained the highest market share and sales in the past fifteen years. Within this short time frame, they delivered $54 billion in annual sales to the company.
Furthermore, it has around three thousand and seven hundred million visitors per month. As per statistics, no e-commerce platform has been able to reach this amount. Many believe that this success was powered by their marketing and pricing strategies.
Amazon’s third-party sellers generate about sixty-five percent of sales of the total annual sales. As Amazon requires the third-party vendors follows all the product and packaging standards, there’s barely any quality difference between their products.
According to a survey, forty percent of their members agree to shop during retail events. Examples of such events include Black Fridays and Cyber Mondays.
Between Black Friday and Christmas, vendors experienced an average sale of twelve thousand products per sixty seconds. It has eventually led to Amazon capturing most of the market share.
eBay was an auction site. Pierre Omidyar established this platform in 1995, and it is one of the few sites that has survived the stock market crash in the year 2000. It operates in more than 32 countries and serves more than 187 million customers online.
In March 2022, it had annual net revenue of ten billion. It was mostly generated by third-party vendors. eBay charges the vendors listing on their sites, while the customers browse for free; and it has been a successful scheme for the e-commerce platform.
It had a significant jump in its net revenue, considering that it was around eight point nine US Dollars in March 2021. Moreover, it has about a hundred and ten million visitors per month. This number is expected to rise during festivals and retail events.
Meta is a multinational technology company. Its headquarters are in Menlo Park, California, USA. It is one of the fastest growing e-commerce companies as it has a growth rate of fourteen percent per year.
According to a report, its annual revenue was around $117.929 billion in 2021. From such an amount it escalated to $119.411 billion in 2022. The thirty-eight percent increase in revenue was not surprising, considering the growth rate of the active users.
Such success was generated from the different e-commerce platforms Meta provides- Facebook marketplace and Instagram. They provide a wide range of services, starting from gig services to customer-to-customer services.
Facebook marketplace alone has nearly two million active users. On the other hand, Instagram has about one billion active users. And fortunately, the users tend to double every two years, eventually influencing their market growth.
Snackpass is one of the largest food ordering e-commerce companies in the USA. It is based in San Francisco, California. In a matter of only five years, its market value went from $70 million to $400m. Moreover, its customer base has also topped five lakhs.
In total, it has grown two thousand six hundred and fifty percent more in five years. Thus, their growth status is exploding. However, it has a particular reason. Most people claim that their success was due to the founder’s other successes-Yale University.
It is because eighty percent of their customers came from Yale’s faculty and students. Shortly after that, it gained recognition and fame. Therefore, it has now half a million regular customers. Furthermore, it runs in thirteen college town malls.
Alibaba operates in 190 countries and serves about one hundred and forty million customers. It has two major platforms- business to business, and business to customers. Both platforms have been thriving since 1999, the birth year of Alibaba.
Their sales revenue broke records by mounting to eighty-five billion dollars on the Single’s Day retail event in 2021. Other than that, it has eight hundred and eighty-two million regular customers. Plus compared to 2021, it grew fifty percent larger.
One of the reasons why Alibaba is one of the fastest growing eCommerce companies is because of its range of products. They provide high-quality expensive items along with wholesale products. Such products are for other businesses to resell.
As you may already know, Walmart is another multinational e-commerce company that is in the USA. It is one of the few large big box stores that have been running since the 1960s. Since that time, it operates a chain of grocery and discount department stores.
Along with that, they also have hypermarkets. The main reason for the growth rate is that they provide retail products at low prices. This is usually uncommon for mega stores as most such stores charge regular or high prices for their products.
In 2022, they have recorded annual net revenue of 572.8 billion US Dollars. Its competitors can barely reach such an annual revenue. Besides operating e-commerce sites, they gradually established stores in all fifty states of the USA. Amazing, isn’t it?
For establishing an even more successful e-commerce model, Walmart has turned its stores into warehouses for digital orders. It happened especially during the Corona Virus outbreak when people had to order everything online. Eventually, inviting rapid sales.
As most of the e-commerce sites are regarding fashion and food, there was a market gap in the home improvement industry. Home Depot grabbed this opportunity and became one of the fastest growing eCommerce companies in the US around the 1990s.
Today, its headquarters are in Atlanta and it provides a wide range of products and services. For instance, they sell home appliances, patio furniture, and home, bathroom, and kitchen renovation ideas. Customers also get to read free blogs on their site.
According to their annual report, sales revenue within three months was 35.7 billion US Dollars in 2021. Compared to the previous year, it grew ten percent more in 2021. In total, they have reached an annual sales revenue of $150 billion in the same year.
Furthermore, in two years its valuation rose by $40 billion. This growth was powered by the company’s motive to focus on the customers. Also, it creates a personalized omnichannel strategy that offers unique shopping systems to its customers.
Just like SnackPass, HungryPanda is another food delivery e-commerce company. It’s located in London, England. However, comparing it to SnackPass, it is smaller in size. It now has 1.5 million users, but its target audience is fifty million people.
It may not be the largest platform in 2022, but it is surely one of the fastest growing eCommerce companies. It is because, in 2020, they had annual revenue of 70 billion US Dollars. Next, their target is to reach 90 billion US Dollars.
With enough funding and plowed back profits, they wish to expand their company size. Their strategy is to offer more services to further locations. They have been following this since 2016. Thus, it explains how HungryPanda grew larger in a few years.
A lot of you may already recognize Shopify due to its extensive marketing strategies. It is a Canadian e-commerce company that is located in Ottawa, Ontario. Initially, it started to sell winter sports equipment only. Soon after, the founders identified it as an issue.
Hence, they introduced a new range of products. They released their app as well, which quickly gained recognition. Since 2010, it had third-party retailers that pay Shopify for listing their products. It started to grow rapidly as the number of retailers increased.
Shopify is now recognized as a global leader in the e-commerce industry. It engineered a safe platform for many small businesses. As a result, their net annual revenue was 4.611 billion US Dollars in 2021, while it was only 0.32 billion US Dollars in 2020.
On average, it has 1.16 billion visitors every month. And from the sale of each product, it takes 1.6 percent. In this way, it earns around two hundred and twenty-six dollars from each customer. Therefore, its growth rate is quite high.
Craigslist is an e-commerce platform that lists houses, flats, and other items for sale. It also provides gig services and has useful discussion forums. Although it has its headquarters in the US, it operates inside metropolitan areas in seventy countries.
Initially, it wasn’t an e-commerce platform. Since 1996, it started growing by selling items and advertising through different mediums. Today, it has about three hundred million visitors per month.
From such a big audience, it made approximately six hundred and sixty million dollars in 2021. It is seventeen percent more than its annual revenue of the previous year. The gig services generated seventy percent of it, while job listings generated thirty percent.
Most of the fast-growing e-commerce platforms sell the latest fashion, news, and accessories. Here, Etsy sells unique handmade products. It is based in Brooklyn, New York, US. Other than just handmade products, it also sells exclusive vintage products.
Their products include apparel, furniture, jewelry, tools, craft supplies, and other traditional items. It is one of the fastest growing eCommerce companies as they also let other sellers list their vintage products. Their fee is $0.20 per listing.
In 2021, their net annual revenue was 12.2 billion US Dollars, which indicates that their revenue growth rate is 12.36%. And, their visitors per month in 2022 is around 464 million. Yes! It is a lot of traffic for one site.
BestBuy is one of the leading multinational e-commerce companies that provides electronics for consumers. This retailer has its headquarters in Minnesota, US. In 1996, they started selling musical equipment. From 1983, they started to expand further.
Its expansion was powered by the sale of other electronic items through its website. In 2021, their net revenue was 43.3 billion US Dollars. And in 2022, it rose to 51.76 billion US Dollars.
This made the company the largest consumer electronics retailer in the country. Not only that, they have around 48.4 million visitors per month. As per their growth rate, they will keep increasing in size rapidly.
Unlike other e-commerce platforms, Target is a departmental store based in the US. They have eighteen hundred stores in the entire country. Apart from that, they operate a large e-commerce platform. They sell home décor, apparel, accessories, etc.
They have a lot of similarities with Walmart. It is because they also use their stores as warehouses for their e-commerce platform. It has led to them earning billions of revenue and profit.
Target had annual revenue of hundred and six billion US Dollars in 2021. In 2022, their directors expect to earn twenty-four billion US Dollars more. It is because they expect a growth rate of 22.3% per year.
Zafrul is another large fashion e-commerce site that delivers in two hundred and sixty countries. The countries include the USA, Canada, England, and many more. Here, it is fast growing due to the introduction of its latest fashion trends in women’s clothing.
Their pricing strategy and designs have led to immense traffic on their websites. So they created websites for different countries. Relative to last month, their traffic increased by about ten percent. It is because they now have around 2.7 million visitors.
Besides running its website, its Facebook page consists of 8.4 million followers. And followers and sales keep growing rapidly. Although its headquarters are in Hong Kong, it has thrived in the USA, Canada, and England e-commerce platforms since 2014.
IPSY is one of the largest cosmetics-related e-commerce platforms in the United States. Its headquarters are in California, USA. Its Glam Bag subscription is the most sold product on its site; the unique idea has been able to grab a lot of market share.
Now let us dive into their growth trend statistics. Relative to last month, its visitors and sales have increased by 1.56%. On the other hand, it has been growing twice every year since 2013. This has bought a significant impact on its growth trend and company size.
Other than that, it is one of the fastest growing eCommerce companies because of customer loyalty. Fifty-one percent of IPSY’s regular customers are subscribers. The similar purchasing pattern helped them thrive in the market consecutively for five years.
Costco, also known as Costco Wholesale Corporation, operates a chain of warehouses. Their unique selling point is their pricing strategy; they sell at competitive prices to attract customers. Thus, it explains how it’s growing so fast with so many competitors.
It offers selling almost everything- electronics, clothing, outdoor items, appliances, jewelry, etc. Due to its growing demand, it now has seven hundred and fifty warehouses in total. It is a multinational company, so it operates in more than one country.
They operate in the US, UK, Canada, Australia, Spain, South Korea, Iceland, France, Japan, Taiwan, and Mexico. You can already imagine how large their company size is. Their annual revenue calculated on May 31st, 2022 was 217.538 billion US Dollars.
In the previous year, it was 95.929 billion US Dollars. It means that their growth rate per year is around seventeen percent. Thus, it is growing very fast.
Prosus is known as the underdog in the e-commerce space. It operates many food delivery companies that consist of other third-party vendors. The growth rate of their companies is around a hundred and twenty-seven percent, almost double.
According to their financial report, their annual revenue grew by fifty-four percent. It topped 6.1 billion US Dollars. And sixty percent of the businesses Prosus owns are successful. It is because they keep focusing on adding newer features to their platforms.
For instance, they are adding credit facilities for their purchases. It has been implemented in Swiggy, an app used in India. Furthermore, they also sell groceries on their platforms. It has only increased their reach and sales.
Shopjclub may not be the cheapest e-commerce platform out there, but it surely provides products at competitive prices. Its office is in New York, USA. But they also deliver in other countries. Everywhere, they are known as jClub due to their site’s name.
It mostly sells fragrances, cosmetics, fashion, watches, electronics, jewelry, and clothes. Sellers providing such a wide range of products are rare. However, the reason they are growing fast is because of their unique deals and offers.
jClub charges no money for delivering products to the doorstep; thus no shipping cost. For customers, it is a good deal as they only have to pay for the products at competitive prices. Besides that, no hidden fees. As a result, it has around 3,786,551 followers.
Like Home Depot, Wayfair is another e-commerce platform that focuses on selling furniture and home improvement items. Since 2003, they allow suppliers to list their items on their websites. It has influenced a lot of suppliers to choose Wayfair.
In this way, they made a lot of profits. And eventually, they developed fifty-six warehouses and several offices in the country. Other than the US, they also operate in Canada, Uk, Germany, and Ireland.
In 2021, they had annual net revenue of 13.7 billion US Dollars. Similarly, in June 2022, they already reported a revenue of 12.6 billion US Dollars.
Soon after their partnership, they started to grow rapidly, as they used more automation and technology while taking orders. As they sell essential items, their sales revenue was 132.489 billion US Dollars in 2021.
Lastly, we have Kroger. It is an American retail company that operates a chain of supermarkets and multi-departmental stores. After a few years of operation, they partnered with Ocado, a UK-based tech company, to improve their operations.
It escalated to 137.888 billion US Dollars in 2022. The four percent increase in growth rate tends to increase as they will offer more delivery options in the future. From a source, we can report that they will engage in more partnerships.
It will enable top-notch services with robust technologies in the future. And as a result, they can expect a faster growth rate per year.
The internet has been a godsend to these companies, shaping startups’ growth trend into making them the fastest growing eCommerce companies in the world. Other than that, it also accelerated the growth of small businesses.
However, millions of offline competitors have struggled due to these online dominators. If you are considering operating your business on any of these e-commerce sites, you may have the following questions:
Q: How to contact e-commerce platforms for selling your products?
A: To contact the platforms, sellers should email the authorities at their correct email addresses. Most companies have this information on their contact page. Such pages may also contain phone numbers and message boxes for the new vendors.
Q: Who are the major players in the e-commerce industry?
A: Alibaba and Amazon are two major players in the e-commerce industry. Both sites influence sales dominantly in the market. Sellers tend to make abnormal profits from the pool of traffic on the websites.
Q: Which is the second most famous shopping e-commerce website?
A: After Amazon, eBay is the second most famous e-commerce website. However, customers mostly use eBay for shopping purposes.