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Updated May 14, 2024

The 10 Largest E-Commerce Markets in the World by Country

Here's a quick introduction to the biggest e-commerce markets in the world and some interesting facts about the industry in those countries.

Mark Fairlie
Written By: Mark FairlieSenior Analyst & Expert on Business Ownership
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Table of Contents

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The e-commerce industry is continuously growing worldwide. With each passing day, new e-commerce markets emerge and established markets reach new milestones. If you’re interested in setting up an online store or monitoring e-commerce trends, here’s a look at the biggest global e-commerce markets (in terms of sales) by country, according to eMarketer data published by Oberlo. We’ll also pinpoint the world’s largest online retailers and highlight global e-commerce trends to help businesses better understand the e-commerce landscape today and in the future. 

Largest e-commerce markets worldwide

Global e-commerce sales are astronomical — and some countries making a significant splash in the space may surprise you. Here are the top 10 countries ranked by annual online sales. Note that if you plan to do business in one of these markets, familiarize yourself with legal challenges for e-commerce businesses in each particular location to stay on the right side of local laws. 

TipBottom line
If you're operating an online store, offering multiple e-commerce payment options — including digital wallets and electronic funds transfers — can help drive sales.

1. China

China is the world’s biggest e-commerce market, led by the Alibaba group’s e-commerce subsidiaries Taobao, and Tmall. With other multibillion-dollar revenue brands like and, China is also one of the fastest-growing e-commerce markets, with an annual growth rate measured in CNY of 9.9 percent.

  • Annual online sales: $3.01 trillion
  • E-commerce share of total retail sales: 52.1 percent
FYIDid you know
Alibaba is also a popular private label manufacturer that connects brands to businesses that can create the products they want to sell.

2. United States

After long ruling the online sales world, the U.S. is currently the second-largest e-commerce market. Led by e-commerce giants Amazon and eBay, the U.S. observes healthy e-commerce growth in all sectors and has, for the most part, been the innovation house for e-commerce trends.

  • Annual online sales: $1.16 trillion
  • E-commerce share of total retail sales: 20.1 percent

3. United Kingdom

Despite its small size, the UK is a big e-commerce player and comfortably secures third place on this list. Amazon UK, eBay UK and Asos are among the country’s leading online brands. The country has one of the highest percentages of total retail sales in e-commerce. Sainsbury’s and Tesco, two of the country’s dominant supermarket chains, both exceed $7 billion each year in online sales.

  • Annual online sales: $195.7 billion
  • E-commerce share of total retail sales: 3.4 percent

4. Japan

Japan’s online spending per head is much lower than that of the top three countries. However, its large population of 125 million pushes it into fourth place. Rakuten is Japan’s leading e-commerce platform, with $14.77 billion in revenue and other domestic players like Yodobashi achieve high annual revenues.

  • Annual online sales: $193.4 billion
  • E-commerce share of total retail sales: 3.3 percent

5. South Korea

South Korea has the fifth-fastest wireless internet network in the world and is fifth on this list. The country’s biggest e-commerce names include Gmarket, SSG, Himart and Coupang.

  • Annual online sales: $147.4 billion
  • E-commerce share of total retail sales: 2.5 percent
Did You Know?Did you know
The Asia Pacific region is the world's leading global e-commerce market in terms of revenue.

6. India

Amazon India is a big player in the country. Additionally, numerous homegrown brands like Myntra, IndiaMART, Meesho and JioMart are experiencing rapid growth. The country’s internet economy may reach $1 trillion by 2030 as the Indian middle classes increase substantially.

  • Annual online sales: $118.9 billion
  • E-commerce share of total retail sales: 2.1 percent

7. Germany

Germany is Europe’s second-largest e-commerce market. Amazon is a major player in this market as are eBay and local online retailer Otto.

  • Annual online sales: $97.3 billion
  • E-commerce share of total retail sales: 1.7 percent

8. Indonesia

Indonesia’s e-commerce market has expanded significantly in the last few years, with much of that growth driven by local firms like Tokopedia, Shopee, Lazada and Blibli. Online sales in the world’s most populous Muslim country are expected to reach $160 billion by 2030.

  • Annual online sales: $97.1 billion
  • E-commerce share of total retail sales: 1.7 percent

9. Canada

Canada is a massive e-commerce market dominated by American brands like Amazon, eBay, Walmart and Costco. Homegrown favorites like Canadian Tire and classified ads site Kijiji also post high revenues.

  • Annual online sales: $82.8 billion
  • E-commerce share of total retail sales: 1.6 percent

10. France

Amazon France generates impressive annual revenues, topping $5 billion. Local favorites include online “flash sales” site Veepee, general retailer Cdiscount, entertainment and consumer electronics leader Fnac and supermarket giant Carrefour.

  • Annual online sales: $79.3 billion
  • E-commerce share of total retail sales: 1.4 percent
TipBottom line
If you're considering taking your e-commerce business global, according to Oberlo, the fastest-growing global markets are Argentina, the Philippines, Malaysia, India and Mexico.

Largest online retailers in the world

The biggest online retailers have an unparalleled foothold locally and globally and have built trust with e-commerce customers. According to Oberlo, the following companies are considered the largest global online retailers: 

  1. Amazon: The retail giant is, first and foremost, an e-tailer, although much of its profit comes from its Amazon Web Services division — one of the top cloud storage services for businesses. Amazon has a market cap of $1.4 trillion. Notably, Amazon is considered a mobile-friendly e-commerce website and has put much effort into creating an accessible e-commerce site.
  2. Walmart: Initially slow to the e-commerce sector, Walmart’s impressive and intuitive online platform competes effectively with Amazon. Walmart’s market cap is $430.6 billion.
  3. The Home Depot: Another American giant with a market cap of $333.1 billion, the company has blended online and in-store sales of its extensive range of tools and construction products successfully.
  4. Alibaba: The Chinese multinational conglomerate specializes in e-commerce, retail, internet and technology and has a market cap of $257.7 billion. It has both business-to-business and business-to-consumer divisions, meaning it generates revenue from multiple parts of the supply chain.
  5. Costco Wholesale Corporation: The membership-only warehouse club provides everything from groceries to general merchandise, including electronics. The firm’s market cap is $249.6 billion.
  6. Prosus: This significant Dutch firm invests in various online brands, including financial technology companies PayU, Delivery Hero, classifieds site OLX and e-commerce leading PharmEasy. Its investments give it a market cap of $240 billion.
  7. Reliance Industries: Primarily an energy, petrochemicals, textiles, natural resources, retail and telecommunications conglomerate, recent e-commerce investments have paid off, giving the company a market cap of $210 billion.
  8. Pinduoduo: With a market cap of $118.7 billion, this company’s growth in its decade of existence has been stratospheric. The site offers a range of different products, including a farm-to-door delivery service.
  9. Meituan Dianping: Founded in 2010 and worth $111.3 billion, Meituan sells special offer vouchers from merchants to dealers, similar to Groupon in the U.S. and Europe.
  10. Booking Holdings: The online travel company owns and operates several travel fare aggregators and travel fare metasearch engines, including,, Cheapflights and OpenTable. Its market cap is $111.3 billion.
FYIDid you know
When developing an e-commerce strategy, outline your goals, identify your target market, research your competitors and decide on your pricing and unique selling proposition.
Mark Fairlie
Written By: Mark FairlieSenior Analyst & Expert on Business Ownership
Mark Fairlie brings decades of expertise in telecommunications and telemarketing to the forefront as the former business owner of a direct marketing company. Also well-versed in a variety of other B2B topics, such as taxation, investments and cybersecurity, he now advises fellow entrepreneurs on the best business practices. With a background in advertising and sales, Fairlie made his mark as the former co-owner of Meridian Delta, which saw a successful transition of ownership in 2015. Through this journey, Fairlie gained invaluable hands-on experience in everything from founding a business to expanding and selling it. Since then, Fairlie has embarked on new ventures, launching a second marketing company and establishing a thriving sole proprietorship.
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