According to a report by Asendia, ecommerce sales are estimated to reach $7 trillion by 2025. For most of us, shopping online is second-nature, and rightly so.
The rising inflation is pushing more consumers to become price sensitive with a major focus on deals and promotions. According to a survey by the National Retail Federation (NRF), 80% of consumers in the United States look out for deals and promotions before they buy something.
Another research by McKinsey & Company suggests that 70% of people who responded said that they were now making more conscious purchasing decisions and were more price sensitive than last year.
Fortunately, the rise in this demand for competitive pricing, online comparison shopping, and deals and promotions, has led to an increase in ecommerce sites that are actively seeking to cater to the needs, wants, and preferences of these consumers, giving them a variety of options to choose from, whether in terms of their product offerings, discounts and offers, or pricing offered by different sellers.
Top 10 Ecommerce Sites
There are some ecommerce sites that are household names. In this article, we’ll explore the top 10 ecommerce sites of 2024 and dig deeper into what makes them so special.
1. Amazon
Monthly traffic: Over 2 billion (Similarweb)
You may already know this, but Amazon started as an online bookstore in 1994. Now, it sells everything you can think of – electronics, home goods, personal care, clothing, groceries, furniture, and more.
The ecommerce site primarily operates on a B2C model but also does B2B through Amazon Business. Amazon has dedicated, country-specific sites for 20+ countries, and offers shipping in 131 countries across the globe. You can also view its site in 18+ languages, all natively translated.
Amazon has hundreds of millions of active buyers and sellers and made over $574.78 billion in annual revenue in 2023 according to Statista.
The company’s also been on an acquisition spree in the last 10 years, acquiring Whole Foods Market, MGM Studios, and Zappos in the process.
Amazon is an online marketplace for first-party and third-party seller offerings with benefits to sellers such as a massive audience. Sellers can also use Amazon’s fulfillment infrastructure to offer the buyers fast delivery options.
You already know about Amazon Prime, their same-day delivery option, but they also offer curbside pick. Buyers with Prime membership are able to get speedy deliveries because of an extensive fulfillment network that includes warehouses and also different delivery partners across the globe.
There is no transaction fee for buyers and the sellers have to pay a fixed fee per item sold. The only con for sellers is that Amazon has a competitive landscape and it is a regulated marketplace with sometimes strict regulations.
Amazon has an excellent return and refund policy, sells millions of products across different categories, and has a loyal prime membership base.
While new sites such as Temu are cutting into its market share, Amazon still retains its status as the biggest ecommerce site in the world today.
2. eBay
Monthly traffic: Over 1 billion (Similarweb)
eBay is a marketplace which facilitates both C2C and B2C transactions. This means that it allows not only businesses to sell to consumers but also individual sellers who want to benefit from the rise in online shopping through this ecommerce site.
eBay began solely as an online auction site in 1995. Now, it has expanded to accommodate product categories like clothing, collectibles, electronics, home goods, sporting goods and more. eBay’s ecommerce site is unique, for example, it lets you find items that are rare and unique, auctions, and a diverse range of new as well as used items.
eBay doesn’t separately report its revenue for its ecommerce site. However, according to Macrotrends, its total revenue (including its other business segments) in 2023 was around $10.11 billion.
The ecommerce site supports over 20 languages and its reach expands to over 190 markets worldwide. Some key features of eBay include its Buy It Now options, auction bidding, and a strong seller feedback system.
Sellers on eBay can sell niche items, set their own prices, and reach a global audience. The product listing fee for sellers varies as per the format they choose to list items (fixed price vs. auction).
One con for sellers that choose the auction format is that they experience competition from large sellers and thus earn a lower profit.
Buyers benefit from buyer protection programs, availability of unique items, and competitive pricing. They don’t have to pay any transaction fee except there could be a payment processing fee they will need to pay.
The main target audiences for eBay are collectors, consumers who are budget conscious, and those who are on the lookout for unique items.
eBay has a wide variety of shipping options, and eBay does offer some buyer guarantees too (to reduce scams). However, it mostly relies on sellers to manage shipping as well as fulfilment. This is why the delivery speed is mostly dependent on where the seller is located and their preferred shipment method.
eBay uses smart technology like integration with buying assistants and it also has a mobile app. Users can easily browse through a wide variety of listings on eBay. Some mergers and acquisitions for eBay include StubHub and PayPal.
The ecommerce site has millions of active buyer and seller accounts and gets a spot on our list of the top 10 ecommerce sites of 2024 because of its established trust and reputation as an online marketplace.
3. Rakuten
Monthly traffic: Over 1.5 billion (Similarweb)
Rakuten is an online marketplace in Japan and was launched in 1997. Although it is basically a B2C marketplace, it also comprises the Rakuten Wholesale Club, through which it offers B2B services as well.
Rakuten has made it to the list of the top 10 ecommerce sites in the world because of its unique offerings such as its strong loyalty program with Rakuten points, exceptional focus on customer service, as well as some really great cash-back options.
Rakuten has over a million active accounts with its main product categories being fashion clothing, travel bookings, financial services, electronics, home goods, groceries and more.
Rakuten’s annual revenue in 2023 was around $15.8 billion, which included revenue from its other business segments. If you look at their financial reports, they often group their revenue across different business segments.
Besides Japan, the ecommerce site also operates in Asian countries like Taiwan and Singapore. While its main focus is on Asian markets, Rakuten is also available in Canada, Europe, and even the States, through Rakuten International (their international arm).
Rakuten has its own logistics network which is in Japan so it also uses fulfillment managed by the seller when it sells to other Asian countries.
Sellers will benefit because of the conveniences offered as the loyalty program benefits are not just for the buyers but also for the sellers.
Mobile wallet integration, shopping through their mobile app, and various other quality-of-life features make Rakuten one of the best ecommerce sites in the world today.
Rakuten has also acquired wuaki.tv which is a video streaming service, indicating the company’s intent to branch out into other markets too. Its comprehensive product selection and strong brand recognition in Japan is the reason for its success.
It’s pertinent to mention that the company doesn’t charge any transaction fee from buyers, though a product listing fee is required depending on the selling plan or the product category they choose.
4. Etsy
Monthly traffic: Over 260 million (Similarweb)
Etsy is the best B2C online marketplace when it comes to handmade and vintage products. It was launched in 2005 to enable creative people, crafters, and artisans to sell their goods to consumers, and since then, has become the go-to marketplace for people looking for unique items, such as hand-crafted goods.
The dynamic has changed a bit though, and it’s no longer one of those places that’s renowned for only offering high-end, artistically crafted goods; there’s a ton of Chinese made stuff from local sellers, so you’ll likely find things that are slightly marked up than their Alibaba counterparts.
Etsy is great for both independent sellers as well as small businesses who want to sell unique products that are creative, handmade, or even vintage.
The platform has over 90 million buyers who are active in various product categories, including but not limited to jewelry, home decor, clothing, wedding supplies and more.
Etsy’s annual revenue in 2023 was a whopping $2.75 billion (the company takes a cut from , which indicates a growth in revenue of 7.1% compared to the previous year.
Some of its most prominent features are product customization options, dedicated seller profiles, customer reviews and secure checkout. The seller profile feature allows sellers to showcase their shop’s personality through high-quality product images and a compelling bio.
For sellers who want to reach a niche audience, while simultaneously building their brand identity, Etsy is the best online marketplace. Sellers can also benefit from earning high profit margins on the items that are unique and customized. The listing fee is charged per item (since Etsy doesn’t hold any stock). As a result, sellers have to manage their own shipping and fulfillment.
Etsy has a user-friendly interface which allows buyers to easily browse through unique products. Etsy integrates with social media platforms like Facebook, allowing users to sell whatever they want in multiple places.
Etsy’s mergers and acquisitions include Elo7, which is a Brazilian marketplace for handmade products. Most of Etsy’s target audience are small-scale customers who are fond of collecting unique products and those that want to support small businesses.
Unlike ecommerce giants like Amazon, which allow anyone to sell a product, Etsy made its name by focusing on small-scale sellers. As a result, mom-and-pop online stores find it much easier to sell their crafts on Etsy than compete with the giants on Amazon.
5. AliExpress
Monthly traffic: Over 500 million (Similarweb)
AliExpress was launched by the Alibaba Group in 2010 as a B2C online marketplace. It connected many Chinese sellers with international buyers who were looking for the best products in the best price range.
While it also allows for bulk purchases, you’ll have better luck finding wholesale goods on Alibaba than AliExpress. The latter mainly focuses on buyers who want small-scale quantities.
The main product categories on AliExpress are electronics, home goods, beauty products, toys, clothing, and more, but keep in mind that these are mostly cheap, low-quality goods.
The company doesn’t disclose revenues separately, but the group as a whole had a revenue of $126.49 billion in 2023. It’s a massive site, shipping globally to more than 150 countries
The target audience on AliExpress are people who are budget conscious and want to buy trendy and affordable products. Sellers have to pay a commission when they make a sale based on the seller type and product category, and not a fee to list their product.
One thing though, is that you can’t expect the same delivery times as you would with Amazon, for instance. The delivery times are longer because of international shipping. AliExpress has a mix of third-party logistic providers and uses seller-managed fulfillment too.
Consumers choose AliExpress for price, convenience (especially because of the user-friendly mobile app), and a wide variety of products to choose from. They benefit from buyer protection programs and secure payment processing.
6. Temu
Monthly traffic: Around 358.2 million (Similarweb)
In October 2023, the free apps category on Apple’s App Store witnessed a new topper – Temu.
Temu was launched in 2021 as a major Chinese ecommerce platform by Pinduoduo. It’s essentially a B2C online marketplace with a very competitive pricing strategy much like AliExpress, but with faster delivery times and a curated selection of products. There is a strong focus on product categories such as fashion accessories, clothing, home goods, electronics and beauty products.
An interesting insight: Temu’s GMV (Gross Merchandise Volume), it increased from $3 million to $1 billion in just under a year (Sept 2022 – June 2023) as per a report by Business of Apps.
Currently, Temu is operating in 49 countries in Europe, North America, Latin America, and South Africa and from what we’ve seen, it’s been using a highly aggressive marketing strategy to make inroads in these countries.
For sellers, Temu brings in new opportunities because it will give them access to consumers in so many different countries. The competitive pricing may also mean high volume sales. One downside is that it is a new platform with brand awareness that is not fully established yet across different markets and is still in its growing stage.
It’s also important to mention that Temu does not charge any product listing fee. Sellers however pay 2% or 2.5% of commission when they make a sale.
Consumers can earn credits through referrals by way of Temu’s rewarding referral program and through gamified activities.
Temu also has a user-friendly app which is very easy to navigate. Both the website and app have really great search functionality and they also give you fairly accurate product recommendations.
Instead of letting sellers manage delivery and shipment, Temu works with its own delivery partners. This helps ensure timely deliveries and allows the company to maintain some modicum of control over shipments.
7. Walmart
Monthly traffic: Over 500 million (Similarweb)
Walmart launched its ecommerce website way back in 2000, competing with Amazon at the time. However, we all know it as a big box store, which first started back in 1962, in Arkansas.
Walmart primarily operates on a B2C model, but recently only, in 2023, it launched Walmart Business, its B2B arm.
Walmart sells everything from furniture to electronics to clothing, health, beauty, groceries and more. It has its own offerings at one side, and it also allows it to be a marketplace for third-party sellers who want to list their own product offerings on the website.
One thing though: since it allows third-party sellers, quality might not always be consistent. However, the company tries to give consumers an omni-channel experience by integrating its ecommerce website with in-store pickup, delivery, and returns, which is a plus in our book.
Despite being an absolute behemoth in the retail space, Walmart’s rise in the ecommerce niche is nothing short of exemplary. The company has managed to establish itself as a go-to spot for people looking for low-priced items.
Walmart has a subscription service (think their Amazon Prime equivalent), known as Walmart+, which provides users with exclusive discounts, free shipping (no order minimum), savings on fuel, and even includes a subscription to Paramount+ on the side.
Walmart doesn’t charge a product listing fee. It only charges a commission fee of 5% to 15% which is relatively lower than what the competitors charge when sellers make a sale on their platform.
In addition, sellers can also use Walmart’s fulfillment infrastructure. To prevent fraud on its platform, Walmart also has established quality control measures and sellers have to adhere to its policies and procedures. This also protects buyers rights and safeguards them from false marketing and inflated prices.
Walmart has around 10,500 stores in the United States and their site is available in both English and Spanish. In Canada, you can also access it in French. The company has also made some notable acquisitions, chief of which has to be Flipkart, the Indian ecommerce giant.
8. Shein
Monthly traffic: Over 100 million (Similarweb)
Shein is a powerhouse of fast-fashion. It started off in 2008 as a wedding dress reseller online, but now, it has expanded itself into many different product categories such as men’s clothing, women’s clothing, children clothing, accessories, shoes, beauty and homeware.
Shein operates on a B2C model and has its own line of brands and products that it sells. Unlike most other ecommerce sites on this list, Shein isn’t really an online marketplace; they manage everything through their brand.
The ecommerce site offers fashionable accessories and clothing at super affordable prices. Its main target audience is Gen-Z, young, fashion-conscious consumers, which it attracts based on its extremely low prices.
Shein operates in over 200 countries and is the largest online-only fashion retailer in the world. Its uniqueness lies in its ultra-fast fashion, mobile-first approach with a huge product line.
Their search functionality is extremely robust, and you can find virtually any kind of outfit or clothing article you’re looking for by just searching for relevant keywords. Try to screenshot a style of dress you like on for e.g Marks and Spencer or Zara and search it using Shein’s image search function, you will find something similar at a much reasonable price.
Shein also has a Shein Points Program that allows buyers to earn points when they purchase, review an item they bought, or share something on social media for social engagement. It’s their version of a loyalty program basically.
Shein uses smart technologies such as AI and uses big data to not only analyze trends but also to quickly adapt to them in order to bring out trendy product offerings fast.
It is also reported to be exploring AR (augmented reality) feature to allow consumers to virtually try on their products before making a purchase.
9. Trendyol
Monthly traffic: Over 157.3 million (Similarweb)
Turkey’s ecommerce giant, with over 200,000 sellers and millions of buyers, Trendyol was founded back in 2010 as a fashion site, but has now grown into one of the country’s biggest ecommerce sites. The largest shareholder in the company is Alibaba, which holds more than 85% of the company.
Trendyol is now a marketplace with its own product offerings as well as those of third-party vendors. The main categories on this ecommerce site are electronics, fashion, cosmetics and beauty, mother and baby care, home and living, and groceries (via Trendyol Go).
Trendyol has expanded from Turkey to Germany and the United Arab Emirates (UAE) with plans to expand in the European market as well.
Trendyol Express offers super fast delivery within Turkey through its own logistics network. It also partners with the relevant courier services for international deliveries.
Trendyol has a digital wallet solution which is integrated with the ecommerce website and app for easy and secure payments.
As a seller, you will get access to a large number of active Turkish consumers, and an excellent logistic network with no product listing fee. Sellers, however, have to pay a commission fee when they make a sale.
Like its parent company, Trendyol constantly improves its user experience and invests in smart technology for added personalization and data analysis. It has a streamlined process for returns and refunds as well.
The ecommerce website is a dominant player especially in the Turkish ecommerce market with an extensive list of products within various categories and a focus on fashion, fast delivery, and easy returns.
10. Target
Monthly traffic: Over 1 billion (Similarweb)
Target was founded as a brick and mortar store by Dayton Corporation in 1962. It was one of the earliest to embark on the ecommerce journey, launching their online presence in 1995.
Target is not a marketplace and only has its own product offerings. It sells an extensive variety of private label brands and also sells national name ones.
Logistically, Target is extremely streamlined. It has fulfillment centers and logistics networks that are well-connected and well-placed throughout the United States.
The app is as good as the ecommerce website with weekly deals and promotions and detailed product descriptions alongside genuine reviews from customers.
Target’s ecommerce website leverages smart technologies like automation and data analytics which is useful for inventory management as well as order fulfillment. There are features like store location finder, wish lists, and similar product suggestions.
There’s not a lot to write here, since Target’s a household name in the industry. I would like to say though, that at this time, all of these companies, including Target, Walmart, and others, are playing catch-up to Amazon, since almost everything that you can find on these sites is available on Amazon too.
The Bottom Line
Now that you have finished reading about the top 10 ecommerce sites of 2024, you should be able to pinpoint what has made them so popular among consumers.
Obviously, Amazon takes the cake, but we have some surprising newcomers such as Temu on the list. All of these sites have their own affiliate programs, and spend millions on advertising.
What’s interesting though is the level of freedom and choice that you get. The biggest ecommerce sites let anyone sell on their platforms, keeping a cut and offering a much greater variety to their users.
Do you think there’ll be a major shift in these rankings as we go through 2024? Let us know in the comments below!
Comments 0 Responses