The e-commerce enterprise is continuously growing worldwide. With every passing day, new e-commerce markets are rising and established markets are attaining new milestones. Here we've examined the arena's largest e-commerce markets (in terms of sales) by country and the state of the ongoing e-commerce trends there.
The only South American country on this list, Brazil has a decent e-commerce growth of about 22%. Brazil is certainly on the radar of North American online retailers, but as of now, local players, namely MercadoLibre and B2W, lead the way for the country.
Annual online sales: $19 billion
E-commerce share of total retail sales: 2.8%
Coming at No. 9, the Russian e-commerce market is still in a somewhat nascent stage. The country has the largest population of internet users in Europe, but its online sales are only about 2% of total sales. Ulmart, Citilink and Ozon are the biggest online retailers in the country.
Annual online sales: $20 billion
E-commerce share of total retail sales: 2%
Canada is a huge e-commerce market but with low competition. Naturally enough, Amazon dominates the country's e-commerce market, trailed by Costco. Given the opportunities Canada presents as an e-commerce market, other foreign brands are also trying to take a slice of it.
Annual online sales: $30 billion
E-commerce share of total retail sales: 5.7%
4. South Korea
The country with the fastest wireless internet speed, South Korea, comes in at seventh place on this list. South Korea is also one of the leading m-commerce markets. The biggest e-commerce names in the country include Gmarket and Coupang.
Annual online sales: $37 billion
E-commerce share of total retail sales: 9.8%
Led by local players like Odigeo and Cdiscount, the French e-commerce market comes in at sixth place in the world. Like in other major European e-commerce markets, Amazon has good penetration in France, but the local brands have managed to keep the edge over their U.S. counterpart in the country.
Annual online sales: $43 billion
E-commerce share of total retail sales: 5.1%
Germany is Europe's second largest e-commerce market after the U.K. Amazon has a good hold in Germany's market as well. eBay and Germany's local online retailer Otto are some other major e-commerce players in the country.
Annual online sales: $73 billion
E-commerce share of total retail sales: 8.4%
Coming in fourth on the list, Japan is the leading m-commerce (mobile commerce, which, of course, is the future of e-commerce) player in the world. Rakuten is Japan's leading e-commerce platform, which over the years has acquired many e-commerce sites across the world.
Annual online sales: $79 billion
E-commerce share of total retail sales: 5.4%
8. United Kingdom
Despite its small size, the United Kingdom is a big e-commerce player and comfortably secures third place on this list. Amazon U.K., Argos and Play.com are the U.K.'s biggest e-commerce websites, and the country also has one of the highest percentages of total retail sales in e-commerce.
Annual online sales: $99 billion
E-commerce share of total retail sales: 14.5%
9. United States
After ruling the e-commerce world for more than a decade, the United States is currently the second largest e-commerce market in the world. Led by e-commerce giants Amazon and eBay, the U.S. observes healthy e-commerce growth in all sectors and, for the most part, has been the innovation house for new e-commerce trends.
Annual online sales: $340 billion
E-commerce share of total retail sales: 7.5%
Today, China is the world's biggest e-commerce market, led by e-commerce subsidiaries of the Alibaba group, namely Taobao, Alibaba.com, Tmall and others. With an annual growth rate of 35%, China is also one of the fastest-growing e-commerce markets.
Annual online sales: $672 billion
E-commerce share of total retail sales: 15.9%
Many other e-commerce markets are growing at an impressive speed and might overtake one of the countries listed here in the coming years. Most notable are India and Southeast Asia