The mobile progress of the e-commerce business prototype took a colossal turn in the last decade and today it is the most successful industry with more than 24 million online stores. Due to tremendous entreaty, the statistic indicates how slender are the possibilities of success if you aspire to begin an e-commerce emporium since the competition is extremely high. While the online business is prospering and advancing at breakneck speed, it estimated that hardly 11% of the entire retail actually patronizes sales. Out of these 11% transactions, only a few e-commerce companies are conquering the dominant business share. These are the prime online shopping corporations that are making billions of dollars through e-sales. In this blog, we will have a discussion about those giant e-commerce companies, not to flaunt their breakthrough stories and revenue, but to encourage the new juvenile retailers to catch motivation from these e-commerce giants.
Top Five E-Commerce Companies of 2021
1. Amazon, Inc
No one is unfamiliar with the name of Amazon- the highest profit-making e-commerce company and certainly the world’s greatest online store. Jeff Bezos established this global e-commerce store in 1994 in Seattle as an online bookstore. Amazon has presently evolved into a full-fledged e-store with a variety of commodities including electronics, software, garments, pet groceries, and of course, books.
By the end of 2017, Amazon made $177.9 billion in overall sellouts. From a just stationery book e-stall, Amazon transformed into an online retail business through attaining far-reaching growth and it began to branch out as well as introduce innovative services that further augmented its enterprise.
With the strategic implementation of the “growth at all cost” marketing tactic, Amazon experienced top-line growth while granting go bottom business interests. The global online store of Amazon utilizes more than 567,000 employees leaving Google and eBay in the back.
The faculty of Amazon is profoundly data-driven and it transfers important data and examines it genuinely to invent more innovative and more solid products and services. Amazon surreptitiously thrust 91 brands to trade on its digital shopping platform. The core retail marketing of Amazon perceived a brand-new power of leadership which elevated the company’s germination and portrayed it as one of the top 10 e-commerce firms in the global industry.
2. Alibaba
Another champion in the domain of the e-commerce enterprise is Alibaba and it was launched in 1999. This giant e-commerce hub took China’s e-commerce industry to the next level of prosperity. The founder of Alibaba is Jack Ma who has the vision to conceive the bountiful online wholesale shopping platform. It not just particularly serves the consumers, but also caters to retailers with exclusive opportunity to broadcast their trades on a global scale.
While talking about product availability, Alibaba grants numerous merchants offering a diverse range of products. Apart from owning a global wholesale online shopping platform, the industrious ecosystem of Alibaba incorporates other platforms like:
Alipay: Just like Paypal, Alipay is also an online payment service that is presently universally accepted for e-shopping.
Taobao.com: China’s one of the most affluent content hubs that executes manifold social media functionalities. Taobao is used as a global tool for content streaming, videos sharing and reviewing products by the Social media marketers
In the beginning times, Alibaba didn’t have sufficient financial backup to employ sales graduates in their business organization. Jack Ma took the risk of employing farmers from provincial regions and offered them sales operations which were eventful stress for those young men. They used to work, eat and sleep in Jack Ma’s little apartment in Hangzhou. The same company is now recognized as the third-largest e-supermarket in the world.
3. eBay
One of the culminating e-commerce companies in the realm of the digital marketplace, eBay was established in 1995 by Pierre Omidyar and its main office is in San Jose. Initially termed as ActionWeb, this is one of the influential dot-com-bubble successors that remodeled online shopping by implementing both C2C and B2C business models collectively.
eBay has an all-inclusive array of product categories that incorporate nearly everything but the fascinating fact is that eBay profits from its e-commerce transactions of the commodities that are not owned by it. The whole secret lies in its unique bidding features. People can register on the e-bays online portal and post their goods for sale. Interested people can bid on goods and the costliest bidder is granted with the deal. Each monetary activity on the store profits eBay a limited portion in the sales expense. This limited commission grew to $9 billion of income in 2017.
For additional development in Business, eBay has funded Flipkart for wielding its progress in India. In 2002, eBay had similarly financed PayPal and sustained the economic support until 2015 as in the same year, the parent company converted PayPal into an individual corporation.
4. Flipkart
Established in 2007, Flipkart is an Indian e-commerce retail store, administered by the directorship of Sachin Bansal and Binny Bansal, two graduates of the Indian Institute of Technology. This duo initially served for Amazon and later on determined to begin their individual online shopping store that is presently operated from Bengaluru, India.
Following the path of its predecessors, Flipkart also, in the beginning, commenced its business as an online bookstore. After establishing its triumphant impression in the Indian business as an e-bookstore, Flipkart accommodated a number of assets to develop its services. WeRead and Lulu.com are two book manufacturing services that were obtained by Flipkart in 2010. In 2011, it acquired a digital content library called Chakpak, a portal that mostly covers stories, news, and magazines of Bollywood circles. Another significant enlargement of Flipkart is Flyte- DRM-free online music store.
In 2018, Walmart owned Flipkart after it overcame the bidding battle and purchased the Indian e-commerce corporation for $15 billion and enjoys 81% of the shares. This e-commerce company has over 30,000 employees and in 2017, its annual revenue crossed over $2.8 billion.
5. Club Factory
Founded in 2014 by Aaron Jialun Li and Vincent Lou, Club Factory is a beauty, fashion, and lifestyle Chinese e-commerce shop. The Club Factory application software is driven by an exclusive AI-algorithm and data chart to compare rates from various manufacturers.
ClubFactory has 200,000 manufacturers on its supply-chain management system and from 2018, it improved as the preeminent marketplace estimating for nearly 70 million buyers globally. Club Factory’s amends stamp on three cases: unbranded, stylish and affordable. In fact, The Times of India called the regular buyers of Club Factories as “discount hunters” who prefer Chinese online retailers to enjoy the most up to date fashion products at the most affordable rate.
In 2018, ClubFactory raised $100 million from investors like Kunlun Capital, Bertelsmann Asia Investment and IDG Capital in a Series C or investment course of funding. In the same year, Ranveer Singh and Manushi Chhillar, two iconic faces in the Bollywood industry, were designated as ambassadors in India.
This and many others but in a nutshell online shopping websites are here to stay and only going to gain more traction over the time.
