Top eCommerce Companies To Look Out For in 2022

ByDanica Djokic
July 28,2022

Today, eCommerce is revolutionizing the way we shop. No longer do we have to trek to the mall or stand in line at the store. We can simply sit at our computers or use our smartphones to purchase whatever we want with just a few clicks.

The ease and convenience of online shopping have made it one of the most popular shopping methods, and businesses have taken notice. The top eCommerce companies are now worth billions of dollars, and they’re only getting bigger.

To save you the trouble of scouring the internet for the best online shopping venues, we’ve compiled a list of the top six.

1. Amazon - The King of Market Dominance

Market cap: $1.168 trillion

Revenue: $469.8 billion

Monthly visits: 2.4 billion

No list of eCommerce retailers would be complete without Amazon. This online store is the undisputed king of eCommerce, with a staggering market cap of $1.168 trillion, a dominance of the market with 44% of all eCommerce sales, and over 12 million products on its shelves.

What started as a small online book store in Jeff Bezos’ garage has now grown into a multi-billion-dollar empire that sells everything from books and electronics to clothing and groceries. Amazon operates in 20 countries across five continents and is one of the largest eCommerce companies in the US and the rest of the world.

The retailer’s total monthly visits in the US reached a whopping 2.4 billion in May 2022, making Amazon one of the most visited sites in the country. Part of Amazon’s success can be attributed to its retail-oriented services, such as Fulfillment by Amazon and Amazon Web Services. The former lets businesses store and ship their products through Amazon, while the latter provides businesses with cloud computing services.

Another game-changer in the competitive landscape of eCommerce is Amazon Prime. For an annual fee of $139 or a $14.99 monthly subscription, members get free shipping, access to Prime Video and Prime Music streaming services, extra discounts, and coupons, thus generating additional revenue for the company. Speaking of which, the company reported $469.8 billion in revenue in 2021.

Despite being one of the top eCommerce companies in the world, Amazon didn’t make it through the COVID-19 pandemic unscathed. Even though the outbreak led to a surge in online shopping as people avoided going to physical stores, the retailer had to deal with a significant strain on its resources, leading to delays in shipping times and limited stock.

2. eBay - The Pioneer of Online Shopping

Market cap: $25.56 billion

Revenue: $10.42 billion

Monthly visits: 753.5 million

eBay is one of the oldest and best-rated eCommerce platforms. The online marketplace was founded back in 1995 and was one of the first to capitalize on the power of the internet for the purposes of shopping.

Today, eBay is a behemoth with a market cap of more than $25 billion as of July 2022, becoming one of the largest eCommerce brands with over 159 million active users and availability in over 180 countries. The site accumulated 753.5 million worldwide monthly visits in April 2022, thus becoming one of the most visited websites globally.

The company operates as a marketplace, allowing individuals and businesses to sell almost anything, from cars and clothing to antiques and art.

What sets eBay apart from other eCommerce companies is its auction system. This lets sellers set a starting price for their product and allows potential buyers to bid on it, with the product ultimately going to the highest bidder. 

However, the company has been pushed to adapt in recent years, as Amazon and other top eCommerce companies have gained ground. To stay competitive, eBay has introduced features such as “Buy It Now,” which lets buyers purchase items immediately at a set price, as well as “Best Offer,” which allows consumers to negotiate with sellers.

Yet another benefit eBay users can count on is its “Best Price Guarantee.” If shoppers find a product they purchased on eBay for a lower price at another online retailer within 48 hours, eBay will offer a coupon worth 110 percent difference in price. Along with the guaranteed delivery scheme, which guarantees a refund if delivery takes more than three days, these initiatives make for a very customer-centric approach.

3. Alibaba - The Chinese eCommerce Dragon

Market cap: $278 billion

Revenue: $129.44 billion

Monthly visits: 138.4 million

The next entry on our handpicked list of eCommerce companies is a Chinese brand that has taken the world by storm - Alibaba. It was founded in 1999 as a business-to-business portal meant to connect Chinese manufacturers with overseas buyers. 

Starting as a rags-to-riches story, the company has since transformed into a massive eCommerce empire with a market cap of over $278 billion. Currently, Alibaba is the largest eCommerce company in China and the world’s third-largest Infrastructure-as-a-Service provider by revenue. 

The company operates a range of websites, including Taobao, DingTalk, AliExpress, and Tmall, which have a combined active user base of 1.31 billion, including 305 million overseas consumers. It operates in over 190 countries, offering online shopping, cloud services, logistics networks, digital media, entertainment, and more.

Alibaba is one of the eCommerce retail companies that has been incredibly successful in China thanks to its focus on the country’s vast and growing middle class. The company has also been very innovative, introducing features such as Tmall, which provides a platform for businesses to sell to consumers, and AliExpress, which lets small businesses sell to buyers outside of China.

In recent years, Alibaba has been expanding aggressively outside of China. The company has made a number of high-profile acquisitions, such as the purchase of the South China Morning Post in 2015. Alibaba has also invested heavily in overseas eCommerce companies, such as Lazada in Southeast Asia, further cementing itself as one of the top 5 eCommerce companies worldwide.

In 2021, the company reported $129.44 billion in revenue, representing a considerable increase compared to the previous year’s $94.46 billion. We expect the upward trend to continue as Alibaba continues to capitalize on the growing global middle class and new international ventures.

4. Rakuten - The Amazon of Japan

Market cap: $7.36 billion

Revenue: $15 billion

Monthly visits: 542.7 million

Founded in 1997, Rakuten is a Japanese eCommerce company that is often referred to as the “Amazon of Japan.” The firm operates over 70 services, including an online marketplace, Japan’s largest online bank, the Viber messaging app, an e-book store, and Rakuten Mobile, a mobile carrier. 

Today, Rakuten is the largest eCommerce company in Japan and one of the top 10 eCommerce companies in the world, with a market cap of $7.36 billion. The company’s website got a total of 542.7 million visits in April 2022, many of which were searching for Rakuten Travel services, which is Japan's largest online hotel reservation website.

The ground-breaking acquisition of Viber in 2014 for $900 million was a strong statement of Rakuten’s ambitions to become a global player in the tech industry. The messaging app has since been integrated into Rakuten’s ecosystem and is used by over one billion people worldwide.

Rakuten’s online marketplace is the company’s largest business and accounts for the lion’s share of its revenue. Being one of the best eCommerce brands, it sells everything from books and clothes to electronics and furniture. Rakuten is also known for its cashback program, which gives shoppers a percentage of their purchase back in the form of Rakuten Points.

In 2021, Rakuten’s annual revenue amounted to $15 billion, having increased over the previous decade. With that in mind, and given that the name “Rakuten” means “optimism” in Japanese, we expect this upward trend to continue.

5. Walmart - The eCommerce Pioneer

Market cap: $361.80 billion

Revenue: $571.96 billion

Monthly visits: 407.8 million

Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Bentonville, Arkansas, the company was founded in 1962 and currently has around 10,500 locations in 24 countries.

Being one of the top eCommerce companies in the USA, the total number of visits to its website was 407.8 million, according to the May 2022 data. Walmart’s online sales in the US amounted to around 47.8 billion dollars, which is an increase of about 11% compared to the previous year’s figures. Moreover, the company has a market cap of $361.80 billion and has been ranked 1st on the Fortune 500 list for 10 consecutive years. 

The continued, steady growth encouraged the company to invest in its eCommerce resources by focusing on expanding and improving its delivery services and grocery pickup. This, combined with Walmart’s wide range of available products and its competitive prices, makes it one of the dominant entries on the eCommerce companies list. 

Overall, Walmart offers a great customer experience, provides convenient delivery options, and has an impressive supply chain of 210 distribution centers and a fleet of almost 90,000 vehicles that deliver products to stores and customers.

6. The Home Depot - Everyone’s Favorite Home Improvement Store

Market cap: $306.45 billion

Revenue: $147.69 billion

Monthly visits: 203.6 million

Founded in 1978, The Home Depot is the world’s largest home improvement retailer, with more than 2,000 stores in the United States, Canada, and Mexico. The company offers a wide range of products, including tools, building materials, furniture, lawn and garden products, and appliances.

When it comes to eCommerce services, Home Depot is currently one of the top eCommerce furniture companies, along with IKEA, with a website that received around 203.6 million visits in June 2022.

In recent years, Home Depot has put a lot of focus on its eCommerce business, investing in initiatives such as same-day delivery and in-store pick-up. One of the newest additions to its online services, the “Rent Online, Pick-up In Store” feature, has become quite popular among customers. 

ROPIS allows customers to reserve items online and then pick them up at their nearest store. This service is highly convenient for customers who don’t have time to wait for delivery or wait in queues, as well as those who live in rural areas.

Combined with its mixed cart selling scheme, whereby customers can purchase both physical and digital items in one transaction, Home Depot’s online presence among other top eCommerce retailers is becoming quite strong.

Final Thoughts

Many factors have been contributing to the growing popularity of eCommerce in the world. The COVID-19 pandemic has played a significant role in this, as people started turning to online shopping out of necessity. In addition, the availability and popularity of contactless payment options, such as Apple Pay and Amazon Pay, have made it easier and more convenient for people to shop online.

In times of drastic changes in the business world, it is hard to imagine the eCommerce industry without the six online sales companies we listed above, as they have all played a significant role in shaping the eCommerce landscape as we know it today.

FAQ
Who is the largest eCommerce company?

The world's largest ad most influential eCommerce company is Amazon, with a whopping market cap of $1.168 trillion. The company dominates the market with 44% of all eCommerce sales. It operates in over 20 countries across five continents and sells over 12 million products, thus proving to be one of the top eCommerce fulfillment companies. 

What is the best company for eCommerce?

There is no definite answer as to what the best company for eCommerce is. It all depends on your individual needs and preferences. Some might prefer Amazon for its vast selection of products, while others might prefer eBay for its auction-style listings. If you're into home improvement, you might go for Home Depot, and if you're looking for furniture, IKEA might be a better option. 

Ultimately, the top eCommerce companies are the ones that offer the products or services you're looking for at the best price. Make sure to familiarize yourself with how eCommerce companies work before making your final choice.

Is Alibaba bigger than Amazon?

If we compare the market capitalization, Amazon sweeps the board with a market cap of $1.168 trillion. At the same time, Alibaba's eCommerce empire is worth over $278 billion. If we compare the two companies by revenue, Amazon again comes out on top, with a reported $469.8 billion in revenue, compared to Alibaba's $129.44 billion in 2021.

Comparing the top eCommerce companies isn't a simple matter, as they all offer a variety of products and services in different markets.

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It’s hard to imagine the modern world without barcodes. They are on almost every product we buy, from food to clothes to electronics. We tend to take it for granted that this technology will be there to make our lives easier.  But have you ever wondered about the history of barcode technology and barcode scanners? Have you asked yourself: When was the barcode invented, and how did it become so ubiquitous? In this article, we’ll answer those questions and take a brief look at the history of this fascinating technology. What Is a Barcode? Let’s start by explaining what a barcode is. A barcode (often spelled as two words, ‘bar code’) is a machine-readable representation of data typically used to track inventory or products. Barcodes can be found on almost any consumer product today, from food items in the grocery store to books at the library.  Barcodes work by encoding data in a series of parallel lines of varying widths. The widths of the lines are read by a scanner, which converts them into digital data that a computer can process. Before we delve deeper into the barcode history, here are the most common types:  The Universal Product Code (UPC), used on almost all retail products in the United States The European Article Number (EAN), mainly used in Europe International Standard Book Number (ISBN) A Barcode Scanner A barcode scanner employs data capture technology to read barcodes on products in retail stores, identification cards, and postal mail. A typical scanner consists of three main components: an optical reader, a decoder, and a cable connecting the two.  The optical reader is the part of the product code scanner that "reads" the lines in a barcode by shining a light on it and converting the reflected light into an electrical signal. This signal is then sent to the decoder, which converts it into digital data that a computer can read. The First Barcode We’ll take you back to 1948, the year when the first barcode was invented and created by Bernard Silver, a graduate student at Drexel Institute of Technology in Philadelphia, and Norman Woodland, an inventor and a Drexel alumnus.  The two men came up with the idea while working on a project for a local supermarket chain, whose owner asked the institute for help in developing a way to read product information automatically during checkout. The barcode history timeline continues with Silver and Woodland realizing that a system of lines and spaces could be used to encode information that a machine could read. They got the idea from Morse code, which uses a series of dots and dashes to represent letters and numbers. The initial barcode was designed as a “bull’s eye” made up of a series of concentric circles. Silver and Woodland filed a patent for their invention in October 1949, but it was in 1952 that it was patented. However, a powerful 500-watt incandescent bulb they had built into it and a bulky oscilloscope didn’t make the system practical enough for commercial use.  Collins at Sylvania and KarTrak System The next figure in the turbulent history of barcodes was David Jarett Collins, an engineer at Sylvania Electric Products Inc. He was among the first to realize a need for an automated system to track and identify railroad cars. Working on a problem, he developed a KarTrak ACI (Automatic Car Identification) system in the 1960s.  The system used a pattern of blue and orange reflective stripes applied to the sides of railroad cars. A photoelectric sensor was used to read the stripes and could automatically identify a particular car as it went by.  Collins’s system is yet another piece of the puzzle that answers the question, “When was the barcode invented?” It was a much more efficient and upgraded version of the original Woodland-Silver barcode.  The new method soon became widely accepted and was set as the US standard in 1968. However, it was abandoned in the late 1970s due to technical difficulties, high costs, and poor read accuracy. A Gamechanger - The Introduction of Lasers Collins formed the Computer Identics Corporation in search of a new market for his barcode technology. This time he turned to helium-neon lasers, which were invented in 1960 by Theodore Maiman.  Lasers are, obviously, more precise than the 500-watt incandescent bulbs Silver and Woodland were using and can be focused into a very fine beam of light. This made them ideal for reading barcodes. Much before the first barcode scanner was invented, Collins incorporated a mirror that enabled the code to be reached from multiple angles, making things much easier and more reliable.  Collins and his Computer Identics Corporation installed the new barcode scanning system at a General Motors factory in Flint, Michigan, in 1969 to monitor the production of car axles. This marked the start of barcodes’ commercial journey. UPC Is Born After the successful installation at General Motors, the next step was to develop a system to be used on all products in a store. In 1966, the National Association of Food Chains (NAFC) formed a committee to develop such a system. RCA Corporation was among the committee’s members, and as it purchased the rights to the Woodland-Silver patent, it became one of the main players in the history of the barcode. However, the winner of the unique technology race was IBM, with its linear UPC (universal product code) system, which was ultimately selected as the NAFC standard instead of RCA’s bullseye code. The UPC was first scanned commercially on June 26, 1974, on packages of Wrigley’s chewing gum at a supermarket in Troy, Ohio. The barcode had finally arrived as the standard for product identification and tracking.  The UPC code consists of 12 digits, with the first six digits identifying the manufacturer, the next five identifying the product, and the last check digit used to verify that the barcode has been read correctly. The Usage of Barcodes Today Since the barcode invention and commercial deployment, retail has never been the same. Barcodes have become an integral part of our lives and are used in various ways.  We use them to track inventory, for security purposes, in libraries, print labels, and get information about a product. 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This allowed companies to add branding and design elements to their codes more freely. Thanks to those who invented the barcode, we can now use QR technology to store website URLs, contact information, and small amounts of text. It can also be used to trigger actions, such as opening a URL in your browser or adding a contact to your address book.  The Future of Barcodes As barcodes continue to evolve, we can expect to see even more uses for them in our everyday lives. Now that we know the answer to the “How long have barcodes been around?” question, we can only imagine what the future holds for this technology.  With the advent of cloud-based inventory management software, barcodes are becoming even more important for managing products and tracking inventory in real time, no matter where you are.  We are also likely to see more uses for QR codes as they become more widely adopted. So, whether you’re using a barcode to keep track of your inventory or scanning a QR code to get information about a product, there's no doubt that these little symbols are here to stay. Final Thoughts A combination of barcodes and barcode scanners is critical to managing inventory for businesses of all sizes, especially in the grocery industry. With a long history that dates back to 1948, barcodes have come a long way, and they continue to evolve as our needs change. Laser technology made it possible to read barcodes much faster, and the QR code was introduced in the 1990s to store even more information. Today, barcodes are used in many industries, such as health care, manufacturing, and transportation. We hope you won’t take them for granted the next time you see them. In this article, we explored who created the barcode and how its history brought it to its important place in business today.
By Danica Djokic · November 22,2022
Do you ever wonder how those little black-on-white lines can hold so much information? Or how do barcodes work, and why are they so important to businesses? In this article, we will explore the world of barcodes and learn how these simple markings can do so much. Stay tuned for an in-depth look at one of the essential pieces of technology in the modern world. What Is a Barcode? A barcode is a machine-readable code in the form of numbers and parallel lines printed on product packaging. Barcodes were first developed in the 1970s from an earlier idea based on Morse code. They have since become an essential tool for businesses of all sizes. Barcodes can be printed on labels or directly onto products and are read by scanners that are connected to a computer system. Barcodes are used extensively in retail and have helped streamline the checkout process. In addition, barcode technology can be used to track inventory levels and product movement throughout the supply chain. As barcodes become more ubiquitous, they are also being used in other industries, such as health care and manufacturing. How Does a Barcode Work? Barcodes are read by optical scanners that use a beam of light to scan the code. The scanner converts the light reflections into electrical impulses sent to a computer system. The computer system then decodes the impulses and translates them into the product information stored in the barcode.  What’s also important to note is that barcodes can store a large amount of information in a very small space. This means that businesses can track a variety of product data, such as price, color, and size. Types of Barcodes All barcodes can be split into two categories - linear and two-dimensional. Linear barcodes, also known as one-dimensional (1D) barcodes, are the most common type. They are composed of a series of parallel lines that represent numbers or other characters. Two-dimensional barcodes are less common but are becoming more popular due to their ability to store more information. These barcodes are composed of a series of dots or squares that can be read in two dimensions. Now, let’s take a closer look at the different barcode types. UPC The most common type of 1D barcode is the Universal Product Code (UPC). UPC barcodes are used extensively in the retail industry and can be found on nearly every product sold in a retail store.  The universal product code consists of 12 digits divided into two parts: The first six are the manufacturer’s identifier, and the last six are the product’s identifier. The UPC barcode is printed on every product sold in stores and is a vital part of the retail industry. Thanks to the UPC, retailers can efficiently track inventory and sales and ensure that customers get the right products. EAN Code The European Article Number (EAN) is another 1D barcode example used extensively in Europe. EANs are very similar to UPCs but have a few key differences.  EANs are composed of eight or 13 numbers depending on the product size. If the product is small, such as a book, it will have an 8-digit EAN. If the product is larger, such as a piece of furniture, it will have a 13-digit EAN. These numbers combine a country code, company code, and article number, while the last digit represents the check digit. EANs are often used on products sold internationally, as scanners in any country can read them. This makes them a vital part of the global supply chain. Data Matrix Code Data Matrix codes are 2D barcodes that can encode a large amount of data in a small space. They are made up of black and white squares that form a big square or rectangle and are used in industries where tracking and traceability are critical. These codes have a maximum encoding capacity of 3,116 numerical characters and 2,335 alphabetic characters. Each Data Matrix has its own perimeter finder and timing pattern, and they are made up of square or rectangular blocks of black and white cells. Data Matrix codes may store both large and small symbols. A barcode scanner can more easily read the code if there is a blank space around its perimeter. PDF417 Code PDF417 is a type of 2D barcode used to store information. The name stands for Portable Data File 417. PDF417 codes are used in various contexts, including but not limited to driver’s licenses, passports, and other identification documents.  The information stored in a PDF417 code can include text, numbers, and other data. These codes are read by scanning them with a barcode reader. The reader decodes the information, displays it on a screen, or prints it out.  PDF417 codes are also used in some financial transactions, such as mobile payments. In these cases, the code typically represents a unique identifier for the transaction. PDF417 codes have been used since the early 1990s and are now one of the most common barcode types. QR Code QR codes are becoming increasingly popular, especially as a way of sharing information or accessing content quickly and easily. But what exactly is a QR code? Simply put, a QR code is a two-dimensional barcode that can be read by a smartphone or other devices with a camera.  When scanned, the QR code will direct the device to a specific website or online content. QR codes can be used for various purposes, including sharing contact information, providing directions, or linking to a video or social media account.  Businesses have also begun using QR codes to offer customers special deals or promotions. While QR codes are most commonly used with phones, they can also be scanned with laptops and tablets. So, the next time you see a QR code, go ahead and give it a try. Benefits of Using Barcodes Barcodes have become essential to modern life, appearing on everything from groceries to library books. While they may seem like a simple way to handle inventory tracking, barcodes offer businesses various financial benefits. Here are some of the key benefits of using barcode systems: Improved accuracy: Barcodes can be read quickly and accurately, which reduces the chances of human error. This is especially important for businesses that need to track a large number of items. Reduced costs: Using barcodes can help businesses save money on labor costs associated with inventory management. Barcodes can also be used to automate the ordering process, which can lead to further cost savings. So if you’re unsure how to use a barcode system, consider hiring a professional to help get you started. Faster transactions: Barcodes can be read quickly, which helps speed up transactions. This is especially beneficial for businesses that experience high volumes of traffic, such as supermarkets and department stores. Improved customer service: Barcodes can help businesses keep track of sales data and customer purchase history. This information can be used to improve marketing efforts and customize the shopping experience for individual customers. Improved security: Barcodes can be used to track products and prevent theft. This is especially important for businesses that sell high-value items or handle sensitive information. As you can see, barcodes offer a variety of financial benefits for businesses, large and small. How Does a Barcode Scanner Work? A barcode scanner is a device that can read and interpret barcodes. It encodes the data from the barcode into a form that a computer can read. The computer then uses this data to look up information about the product, such as the price, in a database. Barcode scanners come in various shapes and sizes, but they all work using the same basic principle. So, how are barcodes read? A barcode scanner contains a light source, a photosensor, and an electronic decoder.  The light source is used to illuminate the barcode. The photosensor is used to detect the reflected light from the barcode. The electronic decoder is used to interpret the data encoded in the barcode. Barcode scanners can be handheld or fixed. Handheld barcode scanners are portable devices that can be held in one hand while scanning barcodes. Fixed barcode scanners are mounted on stands or other surfaces and are used to scan barcodes placed within the scanner’s range. Barcode scanners are commonly used in retail settings for pricing and inventory control. However, barcode scanners can also be used for other purposes, such as tracking assets or collecting data. Final Thoughts Barcodes are essential to many businesses, helping track inventory and product movement throughout the supply chain. By understanding how they work, you can ensure you’re making the most out of them. There are different barcode types, so choose the one that best suits your needs.
By Nikolina Cveticanin · November 21,2022

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