Top Ecommerce Companies in 2024

The list of the top 10 ecommerce companies in the world is currently dominated by US and Chinese firms, with eight of the 10 headquartered in either of these two countries. This should come as no surprise, given that China and the US are the biggest ecommerce markets in the world.

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Top 10 ecommerce companies in the world

Biggest online retailers	Market value (as of Jan 2024)
1. Amazon.com	$1,534 billion
2. Walmart	$428.9 billion
3. Home Depot	$337 billion
4. Costco Wholesale Corporation	$287.7 billion
5. Reliance Industries	$211.8 billion
6. PDD Holdings	$201.2 billion
7. Alibaba Group Holding	$183.5 billion
8. Prosus	$160.1 billion
9. Booking Holdings	$119.3 billion
10. Shopify	$92.2 billion

1. Amazon.com: $1,534 billion

Country of origin: United States
Headquarters: Seattle, Washington

Currently topping the list of top 10 ecommerce companies in the world is retail giant Amazon. As a pioneer in online retail, Amazon has expanded its offerings to cloud computing, AI, and more.

As of January 2024, its market value stands at more than $1.5 trillion, the only company that’s currently valued at over $1 trillion. The ecommerce company’s revenue has been growing steadily for over a decade. In the 12-month period ending in December 2023, its revenues reached $574.8 billion, an 11.8% year-over-year increase.

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Amazon’s current market value is also more than triple that of its closest rival, Walmart. Incidentally, its founder, Jeff Bezos, also ranks among the wealthiest men in the world.

2. Walmart: $428.9 billion

Country of origin: United States
Headquarters: Bentonville, Arkansas

Second-placed Walmart on this ranking of the top ecommerce companies currently has a market value of $428.9 billion. Walmart was established in 1945 and continues to be a significant player in the global market. The Arkansas-headquartered company has aggressively expanded its online presence, leveraging its massive physical footprint to enhance its ecommerce operations.

Recent investments in technology and logistics have improved its online shopping experience among customers, contributing to its rising market value.

3. Home Depot: $337 billion

Country of origin: United States
Headquarters: Atlanta, Georgia

Walmart is followed by The Home Depot, another US-headquartered firm, in third place, with a market value of $337 billion. Established in 1978, the leading home improvement retailer has seen a surge in its market value, which can be attributed to its successful integration of its online and offline operations, offering customers seamless shopping experiences.

4. Costco Wholesale Corporation: $287.7 billion

Country of origin: United States
Headquarters: Issaquah, Washington

Fourth on the list of the top ecommerce companies is Costco Wholesale Corporation, another US-based retailer. Its market value as of January 2024 is $287.7 billion. Incidentally, Amazon, Walmart, The Home Depot, and Costco also rank among the five largest retailers in the US in terms of revenue generated.

5. Reliance Industries: $211.8 billion

Country of origin: India
Headquarters: Mumbai, Maharashtra

Founded by Dhirubhai Ambani in the 1960s, Reliance Industries is a conglomerate leading in telecommunications, retail, and energy. It has expanded into ecommerce with significant success, particularly through Jio Platforms, marking its presence with a current market value of $211.8 billion.

6. PDD Holdings: $201.2 billion

Country of origin: China
Headquarters: Shanghai, China

PDD Holdings has revolutionized the Chinese online shopping market with its bulk buying model. Its innovative approach to online retail has attracted millions of users, driving up its market value.

Today, it ranks seventh on the list of the biggest online retailers worldwide, with a value of just over $2 billion. Among its impressive portfolio are Pinduoduo, one of China's largest ecommerce platforms, and Temu, a popular online marketplace.

7. Alibaba Group Holding: $183.5 billion

Country of origin: China
Headquarters: Hangzhou, Zhejiang, China

China’s Alibaba, with a market value of $183.5 billion, ranks seventh on this list of the top ecommerce companies. The Jack Ma company has grown rapidly in recent years, more than tripling its net revenue in the years since 2018 from approximately $34 billion, to $119 billion. Among its notable contributions to the online wholesale marketplace are platforms such as AliExpress, Lazada, Tmall Global, and Freshippo.

Despite facing regulatory challenges, the group remains a formidable force in global ecommerce and cloud computing as it continues to invest in new technologies and expand its global footprint.

8. Prosus: $160.1 billion

Country of origin: Netherlands
Headquarters: Amsterdam

Prosus N.V. is a global consumer internet group and one of the largest technology investors in the world, headquartered in Amsterdam, Netherlands. It is currently in eighth place on the list of the top ecommerce companies.

One of the most notable assets in Prosus’s portfolio is its stake in Tencent, a major player in the internet and gaming industry in China. Besides Tencent, Prosus invests in and operates several high-growth global internet companies, focusing on markets with long-term growth potential.

9. Booking Holdings: $119.3 billion

Country of origin: United States
Headquarters: Norwalk, Connecticut

Specializing in online travel services, Booking Holdings has adapted well to the changing travel landscape, focusing on flexibility and customer experience to maintain its market position.

Headquartered in Norwalk, Connecticut, USA, it operates through a suite of well-known travel brands, including Booking.com, Priceline, Agoda, Kayak, Cheapflights, Rentalcars.com, and OpenTable. The company was established in 1997 and is recognized today as a giant in the travel industry, providing a wide range of services such as accommodation reservations, rental car services, airline ticketing, and restaurant reservations.

10. Shopify: $92.2 billion

Country of origin: Canada
Headquarters: Ottawa, Ontario

Rounding out the ranking of the biggest online retailers is Shopify. Established in 2004, the Canada-based company offers a comprehensive suite of services for ecommerce globally, enabling vendors to showcase and sell their merchandise online. Thanks to its innovative solution, Canada-based Shopify has empowered millions of businesses worldwide to create online stores. Continuous innovation and a focus on user-friendly ecommerce solutions have driven its growth.