Amazon ranked number one global retailer but JD.com and Alibaba are closing in
Amazon, Alibaba and JD.com continue to outperform retailers worldwide, with the three e-commerce giants experiencing an average revenue growth rate of 30% in 2016, compared with a 4.3% average growth rate for retailers worldwide.
A report from eMarketer, using data from UK-based OC&C Strategy Consultants, revealed the top ten retailers worldwide ranked by the increase in sales in 2016.
While Amazon is the standout global leader with a significant lead of £23.5bn ($31.7 bn) in revenue growth, Chinese e-commerce giants Alibaba and JD.com outperformed Amazon in terms of percentage growth.
Amazon is the number one retailer globally but Chinese ecommerce giants are hot on its heels
JD.com was ranked number two in the global list with £8.0bn ($10.8bn) in revenue growth, however, it reported 41% growth, while Alibaba ranked 10th with £2.9bn (3.9bn) and 33% growth.
JD.com, which is China’s second-largest e-commerce company, experienced a strong year with record sales for its 6.18 shopping festival and a major partnership deal with luxury site Farfetch.
Alibaba has stepped up its expansion plans in a bid to grow the company's presence across Asia Pacific. Alibaba has increased its investment in Singapore-based ecommerce company Lazada as well as investing in Indonesian e-commerce platform Tokopedia, among a host of other moves.
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Both Chinese e-commerce companies are investing in bricks and mortar retail opportunities to help drive growth within China. Alibaba has increased its Hema supermarkets and commenced building its first mall, while JD.com has launched new technology for its offline retail experiences and continues to roll out its branded stores across China.
The report comes as retailers prepare for the major shopping events of Singles Day (11.11), Black Friday and Cyber Monday next month.