The top five e-commerce platforms in the United States in 2024 are announced! Temu and TikTok Shop are on the list

It is learned that on July 2, according to foreign media reports, the top five e-commerce platforms in the United States in 2024 will be Amazon, eBay, Temu, TikTok Shop and Walmart. After achieving this year's goals, Temu and TikTok will be able to surpass Walmart.

Currently, Amazon is the largest platform in the United States, with sales three times that of other platforms combined. According to forecasts from eMarketer and Marketplace Pulse, Amazon's sales this year will reach $325 billion, and that only includes sales from third-party sellers. If the sales of Amazon's first-party retailers are added, it is likely to be the largest online and offline retailer in the United States.

Image from Marketplace Pulse

eBay's sales this year are expected to reach $35 billion, which is roughly the same as the amount in 2022 and 2023. eBay still has an important position in the US market, but it is mainly concentrated in the "enthusiast" group, so it is not the first choice for most brands to expand their sales channels. eBay CEO Jamie Iannone once said that companies that mainly sell new models of the season tend to prefer to sell on Amazon or Walmart. In response, eBay is trying to enter this field.

Walmart is expected to generate $10 billion in sales this year, according to estimates. eMarketer reports that Walmart will generate $1.037 billion in third-party sales this year. On Amazon, third-party sales account for more than 60% of its total sales, compared to about 10% for Walmart. But like Amazon, Walmart's third-party market is growing faster than first-party sales.

In addition, Temu has set a sales target of $60 billion this year, of which the United States will account for 40%. Temu will first be launched in the US market in September 2022, but sales forecasts in Europe may be higher. Currently, Temu is developing rapidly in the US market and expanding sellers with local warehouses, but sellers are still mainly concentrated in China.

TikTok aims to grow its TikTok Shop U.S. e-commerce business to $17.5 billion this year, its first full year since its founding, thanks to its aggressive promotion of shopping content and live streaming. 36Kr's additional report said TikTok plans to achieve $12-13 billion in revenue in the second half of this year, indicating it may not reach its $17.5 billion goal.

Overall, only five platforms outside of offline retail and DTC channels have sales of $10 billion or more, with Amazon firmly at the top and TikTok quickly becoming the dominant social e-commerce channel. Meanwhile, eBay focuses on its resale business and Temu is mainly for Chinese sellers, which are not the best channels for the expansion of American brands.

Author ✎ Rayna/

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