The United States is the second biggest e-commerce market in the world. The US had a total e-commerce revenue of US$537.7 billion in 2020. The country is way ahead of Japan, the number three in the ranking of the biggest global e-commerce markets. Only China remains bigger, generating a total e-commerce revenue of US$1.3 trillion.
Although the US e-commerce market is already very mature – with a projected 2021 user penetration rate of 79% – it is still on a steady and steep growth path. For 2021, analysts expect a further increase in US e-commerce revenue of 11%. During COVID-19, the US e-commerce market experienced spiking growth of 30% in total revenue. The COVID-19 effect resulting in booming global online retail is also reflected in the growth and net sales figures of the leading online stores in the US. Although there have been changes in the ranking.
Amazon remains on top
Amazon remains the unbeaten number one in the ranking of the biggest online stores in the US by total net sales. The online marketplace generated net sales of US$112.5 billion in 2020, following a historic year-on-year net sales growth of 41%.
Walmart beats Amazon in terms of growth
Rank two is occupied by Walmart with 2020 net sales of US$41.1 billion. In terms of growth, Walmart even beats Amazon, registering more than twice as high a growth rate as Amazon. Net sales via Walmart in the US increased by 85% compared to 2019. This reflects the overall development of Walmart’s online sales during COVID-19 in 2020.
Apple lands in the 6th rank
Rank three of the top ten US online stores saw a change between 2019 and 2020. The new number three in the United States’ biggest online stores is Best Buy. The store increased its net sales by a whopping 144% between 2019 and 2020, resulting in a total of US$18.7 billion.
Apple – the former number three – lost three places and landed in 6th rank, with 2020 net sales of US$14.2 billion. Apple registered the weakest growth of all stores in the top ten. Increasing its net sales in the US by 25% between 2019 and 2020.
Positive effect on e-commerce will last
Several stores in the current top ten more than doubled their net sales in 2020. The year in which the pandemic fundamentally changed consumers’ shopping behavior. Analysts expect the positive effect on e-commerce to last.