Top Online Marketplaces in the US
With the rise of ecommerce, especially in recent years, more and more people are taking to online marketplaces not only to shop but also to launch online businesses.
These activities proved particularly popular in recent years because of the COVID-19 pandemic, which analysts say accelerated the shift to ecommerce by as many as five years.
But where are these digital businesses selling their products? In other words, what are the top online marketplaces in the US?
Five largest online marketplaces in the US
Recent results from a study show that Amazon tops the list of the top online marketplaces in the US, after generating a gross merchandise value (GMV) of $367 billion. It is also one of the largest retailers in the country and worldwide, second only to Walmart.
Not only has Amazon taken the number-one spot on the list of top online marketplaces in the US, it’s also the top ecommerce company worldwide in terms of market value. Plus, recent Amazon statistics show that nearly nine out of every 10 shoppers trust Amazon and indicate they’re more likely to purchase on Amazon than other ecommerce platforms.
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Second on the list is eBay, a California-based online marketplace. Despite being in second place, its annual GMV of $74 billion represents just one-fifth of Amazon’s. Nevertheless, eBay is proving to be particularly popular in the US—recent eBay statistics show that its shopping app is used by 3.7 million US consumers at least once a month..
Walmart rounds out the three largest online marketplaces in the US, with a GMV of $33 billion. The company also currently ranks among the top US department stores, with a popularity rating of 64%.
Fourth on the list ranking the top online marketplaces is OfferUp. Its latest annual GMV is $32 billion, just $1 billion less than Walmart’s. Founded in 2011, the Washington-headquartered marketplace offers a platform for peer-to-peer sales, with experts describing it as a hybrid between eBay and Craigslist.
Last but not least, rounding out the five biggest online marketplaces is Houzz, with a GMV of $14 billion. Established in 2009, it is a website that provides online communities with support for home improvement and interior design.
Together, these five largest online marketplaces have a GMV totaling $520 billion.