The first challenge in ranking fast-growing ecommerce companies is the definition. Should “ecommerce” include only companies that sell their own inventory? Or does it also include platforms and tech providers that serve those sellers?
Yahoo Finance adopted the latter last month when it ranked the fastest-growing, publicly traded ecommerce companies. The list includes retailers and platforms with at least $100 million in annual revenue in fiscal 2023.
According to Yahoo, the Chinese firm PDD Holdings Inc. (owners of Temu, the consumer marketplace) experienced the greatest annual percentage revenue increase in 2023 at 51.91%. Turkey-based D-Market Elektronik Hizmetler ve Ticaret A.S. (an electronics marketplace) was second with a growth of 36.25%.
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In terms of market capitalization (stock price times the number of outstanding shares), Amazon holds the lead by far with $1.85 trillion in March 2024.
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According to Insider Intelligence, in 2024 global retail ecommerce sales will surpass $6 trillion, accounting for approximately 20.1% of all retail sales.
