- e-Retailing is the way to go for the future due to convenience to the customers.
- The COVID-19 pandemic gave e-retailing a major thrust.
- Some of the big companies in e-retailing and not so well known and are Chinese.
The COVID-19 pandemic gave a great impetus to e-commerce. Today, it is the way to go for the shoppers as this comes with several advantages like convenience to the customers. Better information, competitive pricing, shopping anywhere, anytime, and global reach.
e-retailing has grown significantly and is likely to grow even more over the years.
Online shopping has grown a great deal in the last few days. With technological advancements, people prefer to spend more time on the Internet and, therefore, it becomes convenient to shop on the e platforms. It is therefore no surprise that some of the e-retailing companies are on e-commerce platforms. Some of these companies are well known, while some are not that well known.
However, there are some disadvantages of e-retailing. These include: security, no possibility of buying a tried and tested product, possibility of late delivery and not all products can be bought online. They need to be experience in a real store.
Let’s see which are the biggest e-retailing companies in the world:
Amazon is the world’s most popular e-commerce platform. The Company, which started as an online bookseller in 1994 in Washington, is the biggest e-commerce company in the world. It provides a number of products online to become the world number one e-retailing company. It also has a number of services such as AI, digital streaming, and cloud computing industries. Its monthly site traffic is about 2.476 billion visits. Its digital streaming business known as Amazon Prime has been one of the cash-cow businesses for the parent company. Its delivery service is a model that several companies have adopted. It allows customers to subscribe for two-day shipping from Amazon. The company has been able to secure over 100 million subscribers globally. The Company generates the highest revenue in the world. IN CY2020, the sales were more than US$280.52 billion.
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JD.com is a Chinese version of Amazon. The Company is headquartered in Beijing and over the last few years, have grown manifold. The main difference between Amazon and JD.com is that Amazon uses third party to deliver things to their customers, whereas JD handles all logistics operations by itself.
It has services like Amazon, especially JD Plus, which is like Amazon Prime. It is also the market leader in China for high-tech delivery. JD uses drones for delivery of its services in rural areas.
Alibaba is emerging as an e-commerce giant in China but is also know all over the world. It is penetrating other markets and the name of Jack Ma is becoming a household name. It was founded in 1999. Today, Alibaba operates Alibaba.com and 1688.com. The differentiator for Alibaba is that it not only caters to retailers but also wholesale businesses. The main operations are divided into three: Taobao, Tmall and AliExpress. Taobao is the largest market place for consumer to consumer. Tmall takes care of the business to consumer market in China.
Suning.com is one of the retailing companies that are non-government in China. It operates more than 1,600 stores in 700 cities in China and Japan.
It’s a Chinese e-retailing company for locally produced consumer goods and retail services, including entertainment, products and retail services, including entertainment, dining, delivery, travel and other services.
The Rakuten company began in 1997 and is also known as the Amazon of Japan. It has a big market in Japan, almost 90% internet users in Japan use it for their online shopping.
The Company has a global presence and operates under various categories like electronics, home appliances, pet supplies, and healthcare. It has B2B and B2C platforms and is also keen on investing in well-established businesses like LYFT and Pinterest.
eBay Inc. is an American company based out of San Jose, California dealing in ecommerce It is primarily a consumer-to-consumer company of sales through website. eBay was founded by Pierre Omidyar in 1995 and was very successful during the dotcom phase.
Wayfair Inc. is an American e-commerce company that specialises in sale of furniture and home goods. It was formerly known as CSN Stores. It offers more than 14 million items to more than 11,000 global suppliers.
Zalando is a German e-commerce company that deals in high street and fashion products. It is based in Berlin, Germany. It offers lifestyle and fashion products to customers in more than 17 European markets. Zalando was founded in 2008.
Coupang is an e-commerce company based in Seoul, South Korea, but incorporated in Delaware, United States. It was founded in 2010 and became the largest online marketplace in South Korea.