Is the rising country able to compete with the Western world’s eCommerce giants?
With a total eCommerce gross revenue of almost US$630bn, China is by far the largest market within the industry – globally. With an expected double-digit growth rate until 2022, the gap to the second strongest market, the U.S., is expected to become even larger.
Aside of apple.com, which takes fifth place in the given ranking, all online stores of the top 5 ranking generate their whole revenue in the so-called “Middle Kingdom”. With a revenue of over US$61bn, JD.com is the clear market leader and at the same time the only online store that is able to play in the league of amazon.com in terms of revenue. Suning.com takes second place with a still impressive turnover of US$20bn. Nevertheless, this equals only a third of the market leader’s turnover. The podium is completed by vip.com. With US$12.5bn, it is the third online store in China that generated sales in the double-digit billion range. It is remarkable that all the introduced online stores are so-called generalists. Instead of focusing on a specific group of products, they are offering a wide range of products.
Note: We only include first-party sales into our revenue definition. Marketplaces (e.g., Flipkart and Tmall) that generate revenue exclusively from commissions and fees are excluded. First-party sales from online stores that simultaneously run a marketplace (e.g., JD or Amazon) are included, while their revenues from commissions and fees are excluded.
Visit our news area for additional content around the topic of eCommerce.