90% of world’s top online retailers report double digit revenue growth

Nine in ten - 90% - of the world’s top publicly traded online retailers reported double digit revenue growth in 2020.

The top retailers – measured by overall revenue - were US-based Amazon, eBay, and Wayfair; China’s Alibaba, JD, and Pinduoduo; Japan’s Rakuten; South Korea’s Coupang, and Germany’s Zalando.

China’s Vipshop Holdings, who reported revenue growth of 9.6 per cent, was the only company in the top ten that failed to report double digit growth.

Many of these retailers reported revenue growth of more than 30 per cent year-on year: Amazon, Alibaba, Wayfair, Pinduoduo, and Coupang.

South Korea’s Coupang took the top spot in terms of year-on-year revenue growth, with its revenues increasing 90.8 per cent and its profits increasing 32 per cent.

eBay took the top spot overall when it came to profit growth, with its profits increasing 217.3 per cent year-on-year, though its revenue rose only 18.9 per cent.

Amazon took the top spot in terms of overall revenue, with its $386.1 billion in revenue giving it a firm lead over the competition, though JD and Alibaba reported 108.1 billion and 104.1 billion, respectively.

Japan’s Rakuten was the only retailer on the list to report a slide in profitability, losing $1.1 billion in 2020, a 267.2 per cent year-on-year increase in losses.

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