Ecommerce is an industry that is currently in the middle of a boom. It is estimated to be around $3 trillion in the US alone and is estimated to hit more than 10 trillion globally by 2021. It is one of the big sectors where the growth forecasts have been beaten time and again in the past few years.
People now prefer to sit in the comfort of their homes and let their things come to them when compared to before where brick and mortar shops ruled the commerce industry and it shows. The ecommerce industry has been slowly leeching away at traditional retailers and stores, killing their income indefinitely.
It has happened so much so that, people have started questioning the necessity of store fronts and their place in the future of commerce. So which companies have taken advantage of the digital revolution to be at the fore front of this new and budding sector?
Think giant ecommerce company and Amazon is the first company that comes to mind. The company is ubiquitous with the term ecommerce and is the company that we associate with online shopping. It sells more than 5 billion items every year on its website and has the largest revenue in the world.
The company began as an online bookstore but rode the digital wave to become the biggest ecommerce company in the world.
JD.com or Jing Dong is China’s Amazon. Although many think it is Alibaba that should hold the title, it is simply because they are not aware of JD’s scale. Yes, it is the biggest ecommerce company in China, not Alibaba. Although it does give JD a run for its money, JD is the king in China’s ecommerce landscape.
An interesting fact about JD is their craze for tech. They have plans to build an airport exclusively for drones with flight training and flight control for them.
Everybody who has shopped online knows this name. Called Alibaba inc or simply Alibaba, the company has one of the largest inventory in the world. Created by Jack Ma, the company has ballooned from a simple online shopping company to being the Amazon of wholesalers.
You would have heard of this company without knowing what they do. While relatively unknown, the company has massive media presence due to their tie up with a football club. You would seen their name on their shirts, FC Barcelona. Something like that needs money and Rakutan has it.
Rakutan is the only Japanese based ecommerce company featuring in the list. Launched in 1997, the company also operates Japan’s largest online bank and run around 70 other businesses.