Top Online Marketplaces Worldwide by GMV (2024)
With much of the world embracing online shopping in recent years, as evidenced by the global ecommerce sales growth, it’s clear that businesses need to establish a presence on online marketplaces to thrive.
But just what are the top online marketplaces and their sales potential?
Top online marketplaces in 2024
According to the latest data analyzing the 100 biggest online marketplaces of 2024, these platforms are expected to account for $3.8 trillion in online merchandise sales this year, representing a 10% annual rise.
The data reveals that gross merchandise sales (GMV) on these top 100 platforms have doubled in just six years. Analysts attribute this to changing consumer preferences, as shoppers shift toward online shopping and its advantages over traditional retail options.
Top five online marketplaces in 2024
|
Online marketplace |
Third-party sales in 2024 |
|
1. Taobao |
$723.8 billion |
|
2. Tmall |
$682.7 billion |
|
3. Amazon |
$435.7 billion |
|
4. JD.com |
$249.9 billion |
|
5. Shopee |
$77.2 billion |
Biggest online marketplaces: top five
Ranked by GMV, which is the total value of products sold, China’s Taobao tops the list of the biggest online marketplaces, with an expected GMV of $723.8 billion in 2024. It is followed by Tmall, short for Taobao Mall and also based in China, which is projected to sell $682.7 billion worth of third-party goods. Though they share similar names, Tmall is a spin-off from Taobao. Unlike Taobao, which offers both C2C (customer-to-customer) and B2C (business-to-customer) options, Tmall is primarily a B2C marketplace. Both platforms are owned by the Alibaba Group, which currently ranks among the largest internet companies. Undoubtedly, they also play vital roles in Alibaba’s rising revenues over the past decade.
US ecommerce giant Amazon, the top ecommerce company in the world in terms of market value, is the third biggest online marketplace. In 2024, its GMV is forecast to reach $435.7 billion.
Total sales from these top three marketplaces alone are forecast to exceed $1.8 trillion, accounting for nearly half (48.1%) of the total sales from the top 100 online marketplaces in 2024.
In fourth place is another Chinese marketplace, JD.com, headquartered in Beijing, with projected merchandise sales of $249.9 billion this year. Wrapping up the top five is Southeast Asia’s Shopee, with a GMV of $77.2 billion.
Of these top five online marketplaces, three are based in China, and one is in the United States, which are also the two largest ecommerce markets worldwide.