The Largest Ecommerce Companies in the World (2026): Revenue, GMV and US Sales

The largest ecommerce company in the world depends on what you measure. By total revenue, Amazon is the biggest, with US$716.9 billion in net sales in calendar 2025. By the sales volume that merchants push through a platform (GMV), the biggest number any company in my research publishes is Shopify at US$378.4 billion for 2025. For US online retail as a whole, the Census Bureau puts quarterly e-commerce sales at US$340.2 billion in the second quarter of 2026. Every figure below comes from a company’s own results release or annual filing, or from the Census Bureau, as of October 2026.

I have been building and studying online stores since 2013, and at Ecommerce Paradise I teach high-ticket dropshipping, where a buyer spends thousands of dollars and often wants a conversation first. I read the giants’ numbers for one reason: to see where they are strong and where a small, specialized store can legitimately win. This guide gives you the ranking three ways, a table with the metric and fiscal year labeled for every company, and then what an independent store owner can actually take from it.

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The Short Answer: Who Is Largest Depends on the Yardstick

• Largest by revenue: Amazon, at US$716.9 billion in net sales for calendar 2025. Walmart is a hair behind at US$713.2 billion for its fiscal year ended January 31, 2026, but most of Walmart’s sales are still in stores.
• Largest by published GMV: Shopify, at US$378.4 billion for 2025, followed by Shopee (Sea Limited) at US$127.4 billion, eBay at about US$79.6 billion and MercadoLibre at about US$65 billion. Amazon, Alibaba and PDD do not publish a GMV figure in the releases I checked, so they cannot be ranked on this measure from primary sources.
• Largest in US e-commerce: The Census Bureau does not rank companies. It reports that US retail e-commerce was US$340.2 billion in Q2 2026 (seasonally adjusted), or 17.1% of all US retail sales.
• Largest by revenue outside the US: JD.com, with RMB 1,309.1 billion (US$187.2 billion by the company’s own translation) for 2025, then Alibaba with RMB 1,023.7 billion for its fiscal year ended March 31, 2026.

A warning before the table. These companies have different fiscal year ends, report in different currencies, and define revenue and GMV differently. Do not subtract one row from another and treat the answer as exact. Use the table to see scale and to see which numbers each company chooses to publish.

The Largest Ecommerce Companies Side by Side (as of October 2026)

Two rows deserve a second look. Amazon’s and Walmart’s totals include a great deal that is not online retail, and the other revenue figures in the table are not directly comparable to GMV figures. A platform like Shopify can show a huge GMV and a small revenue because the sales belong to its merchants, not to Shopify.

Revenue, GMV and US E-commerce Sales: Why the Rankings Differ

Revenue

Revenue is what the company itself books. For a retailer that buys and resells inventory, that is the full sale price. For a marketplace, it is mainly commissions, fees and advertising. That is why a marketplace can move enormous volume and still report modest revenue.

GMV

Gross merchandise volume is the total value of goods sold through a platform, usually including sellers who are not the platform itself. It is a volume measure, not income, and each company defines it a little differently. Several of the largest names, including Alibaba and PDD, did not publish GMV in the results documents I fetched, so any GMV number you see for them elsewhere is an estimate, not a company disclosure.

US e-commerce sales

The Census Bureau counts sales by US retail establishments where the order or price was placed online. It covers the whole US market and does not name companies, so you cannot read a company ranking from it. It is useful for the size and speed of the pool you are fishing in.

Company by Company

Amazon

Amazon reported total net sales of US$716.9 billion for 2025, made up of North America at US$426.3 billion, International at US$161.9 billion and AWS (cloud computing) at US$128.7 billion. Operating income was US$80.0 billion. So roughly 18% of Amazon’s sales last year were cloud computing, not shopping. Source: the fourth quarter 2025 release.

The most recent quarter, the one ended September 30, 2026, shows the shape of the retail business. Net sales were US$201.9 billion, up 12%, and trailing twelve-month sales reached US$797.5 billion. Within the quarter, online stores contributed US$68.5 billion, third-party seller services US$46.5 billion, advertising US$19.6 billion, subscriptions US$14.0 billion and AWS US$46.0 billion. Third-party seller services is Amazon’s own income from sellers, not the sellers’ total sales volume, and Amazon does not give a seller GMV in that release. Details are in the Q3 2026 release.

What Amazon does not do well, in my experience, is advise. A buyer who is about to spend $3,500 on a piece of specialized equipment wants to ask a question of someone who knows the product. That gap is the commercial opening for a niche store, and it is the logic behind the high-ticket niches list I keep updated.

Walmart

Walmart reported total revenues of US$713.2 billion for fiscal 2026 (ended January 31, 2026), of which net sales were US$706.4 billion. In the fourth quarter of that year, global eCommerce sales grew 24% and Walmart U.S. eCommerce grew 27%. The company says Walmart U.S. eCommerce growth has been above 20% for eight straight quarters. The release does not give a full-year eCommerce dollar figure, and I could not find one in the filing pages I fetched, so I will not guess at one. The totals are in the Q4 FY26 earnings release filed with the SEC. The growth rates and the eight-quarter statement are on Walmart’s earnings summary page.

Note the timing quirk. Amazon’s US$716.9 billion covers calendar 2025 and Walmart’s US$713.2 billion covers the twelve months ended January 2026, so the two are close but not identical periods. Amazon’s trailing twelve months to September 2026 (US$797.5 billion) puts it clearly ahead on the latest data.

Alibaba Group

Alibaba reported fiscal 2026 (ended March 31, 2026) revenue of RMB 1,023.7 billion, or US$148.4 billion at the company’s convenience rate of RMB 6.8980 to US$1. Its China e-commerce group, which now combines the Taobao and Tmall businesses, contributed RMB 554.2 billion (US$80.3 billion). The results announcement does not report GMV. The source is Alibaba’s March quarter and fiscal 2026 results.

AliExpress is the name most Western dropshippers know, and for most of the high-ticket work I teach it is the wrong sourcing channel. If you want to see the alternatives, my write-up of AliExpress alternatives covers them.

JD.com

JD.com reported 2025 net revenues of RMB 1,309.1 billion (US$187.2 billion), up 13.0%. Net product revenues were RMB 1,023.8 billion and net service revenues were RMB 285.3 billion, up 23.6%, so product sales are still the larger part. The figures are in the 2025 results release.

PDD Holdings

PDD, the parent of Pinduoduo and Temu, reported 2025 total revenues of RMB 431.8 billion (US$61.8 billion at RMB 6.9931 to US$1). That splits into RMB 217.8 billion from online marketing services and RMB 214.1 billion from transaction services. The release does not disclose GMV. Many articles quote a Pinduoduo GMV figure in the hundreds of billions of dollars, but I cannot find it on the company’s results page, which is why this guide does not use one. The revenue split comes from the fourth quarter and fiscal 2025 results.

For dropshippers, the Temu side of PDD is the cautionary tale. Cheap goods shipped direct from China pushed down price expectations for generic products everywhere. I cover that in my Temu dropshipping guide, and it is one of the reasons I steer people away from low-ticket price wars.

Shopify

Shopify is not a retailer or a marketplace. It sells software and payments to merchants. For calendar 2025 it reported GMV of US$378.4 billion, up from US$292.3 billion in 2024, and revenue of US$11.56 billion, up from US$8.88 billion. Divide one by the other and Shopify’s own revenue works out to about 3% of the sales merchants process, which is my own arithmetic, not a company figure. The most recent quarter, Q2 2026, showed GMV of US$115.6 billion, up 32%, and revenue of US$3.58 billion, up 34%. The annual figures are in the Q4 2025 release. The quarterly figures are in Shopify’s Q2 2026 release.

The GMV is what makes Shopify the largest on that yardstick, but remember that it belongs to millions of separate merchants, not to Shopify. For a high-ticket store, Shopify is the platform I build on. My Shopify dropshipping guide walks through the setup. I have not verified Shopify’s merchant count or shopper count from a primary page for this refresh, so I do not quote one.

Sea Limited (Shopee)

Sea Limited’s e-commerce arm is Shopee. For 2025, Shopee GMV was US$127.4 billion, up 26.8%, on 13.9 billion gross orders. Sea’s total revenue was US$22.9 billion across all segments, of which Shopee’s e-commerce revenue was US$16.6 billion. The source is Sea’s fourth quarter and full year 2025 results.

eBay

eBay reported 2025 revenue of US$11.1 billion. Its GMV was about US$79.6 billion (the four quarterly figures add up to the same total), with the fourth quarter alone at US$21.2 billion. eBay is far smaller than Amazon on revenue, yet it still moves tens of billions of dollars of goods a year through its marketplace. See the 2025 results release.

Coupang

Coupang reported 2025 total net revenues of US$34.5 billion, up 14% as reported, with Q4 net revenues of US$8.8 billion. The figures are in the Q4 2025 release.

MercadoLibre

MercadoLibre, the Latin American marketplace and fintech company, reported 2025 net revenue of US$28.9 billion, up 39% in US dollars, and GMV of about US$65 billion, up 26%. It says annual unique buyers crossed 120 million. Details are in the company’s 2025 results release.

Niche specialists: Wayfair and Chewy

The most useful rows for a small-store owner may be the two specialists. Wayfair, which sells home goods, reported 2025 total net revenue of US$12.46 billion, up 5.1%, in its full-year results. Chewy, which sells pet products, reported fiscal 2025 net sales of US$12.6 billion for the 52 weeks ended February 1, 2026, up 6.2%, in its fiscal 2025 results. Both built businesses of more than US$12 billion while Amazon was selling the same categories, which is evidence that going deep in one category works at scale.

Who I left out, and why

My earlier version of this guide ranked TikTok Shop (Douyin) and Meta alongside the others. I removed both. ByteDance is private and I found no primary-source GMV for TikTok Shop, and Meta’s results are mostly advertising revenue, not an e-commerce sales figure. Both still matter as traffic channels, and I cover the TikTok side in my TikTok Shop dropshipping guide.

How Big Is US E-commerce? The Census Bureau Numbers

If your store sells to Americans, the Census Bureau figure is the one to watch. Its quarterly report, released August 18, 2026, put Q2 2026 US retail e-commerce sales at US$340.2 billion seasonally adjusted (US$329.5 billion not adjusted). That was 17.1% of total retail sales seasonally adjusted, or 16.4% not adjusted. Year over year, e-commerce grew 12.2% while total retail grew 6.7%, so online share is still climbing.

Two cautions from the report itself. The latest quarter is a preliminary estimate and is subject to revision, and the Census page notes that revised estimates will appear in the third quarter 2026 release scheduled for November 19, 2026. The Census Bureau also does not publish a share by company, so any statement that one company has a specific percent of US e-commerce is coming from a third party, not from this source. That is why I removed the market share percentages that appeared in my earlier version. The source is the Census Bureau quarterly e-commerce page.

What a High-Ticket Dropshipper Can Learn From the Marketplaces

I do not read these numbers to feel small. I read them to find the patterns I can copy at store size. Here are the ones that hold up.

Marketplaces make money from sellers, so know the real cost of renting their shelf

Look at the Amazon quarter again. Third-party seller services, which is Amazon’s own income from sellers, was US$46.5 billion in a single quarter, and advertising was US$19.6 billion more. In my experience, that means a seller on a big marketplace is paying a fee layer and often an ad layer on top of the product cost. Marketplaces can be a useful extra channel, but the customer, the reviews and the pricing power stay with the platform. If you are comparing the economics of selling on a marketplace against your own store, the high-ticket dropshipping model is built around keeping that relationship yourself.

The giants win on speed and price, so do not fight there

Amazon and Walmart are growing through logistics and low prices. Walmart’s own release highlights U.S. eCommerce growth of 27% in its latest quarter, and PDD’s Temu has pushed down expectations for cheap goods. A new store cannot out-ship Amazon or out-price Temu. A store selling a $2,500 item that needs fitting advice, financing options or white-glove delivery is not in the same contest.

Sourcing is where marketplaces cannot copy you

The marketplaces buy at huge scale, but in my experience they rarely build the personal supplier relationships that high-ticket sellers rely on. Authorized dealer status, manufacturer support and the ability to ship a large item with proper handling come from supplier work, and that is the part I have written up step by step in my guide on how to find high-ticket dropshipping suppliers. Selecting a defensible category comes first, and my free niches list is the shortlist I use.

Look like a real business, because you will be treated like one

Every company in the table above has audited filings, a legal entity and tax registration. A solo store owner does not need that scale, but a proper entity makes banking, payment processing, supplier accounts and taxes far smoother. When I walk people through getting set up, the steps I put first are in my guide to business formation for high-ticket dropshipping, because opening supplier accounts and getting dealer pricing usually requires a registered business, in my experience.

Own your customer list

The marketplace owns the buyer data. On your own store you own the email list, and email is cheap to send. I use Omnisend for this, and it is one of the few tools where the savings from repeat purchases are easy to see. If you are new and want the basics before you spend on anything, start with my free beginner’s guide to dropshipping.

A Practical Way to Use This Data

When I look at a niche, I use the table above as a checklist of questions rather than a list of rivals.

• Which giant sells this product, and is its page good? If Amazon has hundreds of thin listings and no real guidance, the category has room for a specialist.
• Does the buyer need to talk to someone before paying? Higher price, installation or fit questions raise the value of a phone number and a knowledgeable person.
• Can I source from an authorized supplier? If the answer is no, no amount of clever marketing fixes it.
• Is online share still climbing? The Census numbers say US e-commerce grew faster than total retail in Q2 2026, which supports more categories moving online.

None of that requires you to match any of these balance sheets. It requires a category, a supplier and a reason for a buyer to pick you.

Frequently Asked Questions About the Largest Ecommerce Companies

What is the largest ecommerce company in the world?
By revenue, Amazon, with US$716.9 billion in net sales for calendar 2025 and US$797.5 billion over the twelve months to September 30, 2026. Note that about 18% of its 2025 sales came from AWS. Walmart reported US$713.2 billion for its fiscal year ended January 31, 2026, but most of that is store sales.

Which company has the highest GMV?
Among companies that publish a GMV figure in their results, Shopify, with US$378.4 billion in 2025. That figure is its merchants’ sales, not Shopify’s own. Amazon, Alibaba and PDD did not publish GMV in the releases I checked, so they cannot be ranked on this measure from primary sources.

How big is US ecommerce?
The Census Bureau reports US retail e-commerce sales of US$340.2 billion for the second quarter of 2026, seasonally adjusted, which is 17.1% of total retail sales. The estimate is preliminary and may be revised in the Q3 2026 release due November 19, 2026.

Is Shopify an ecommerce company like Amazon?
Not in the same way. Amazon sells products and runs a marketplace, so it books retail sales and seller fees. Shopify sells software and payments to merchants, so its revenue was US$11.56 billion in 2025 against US$378.4 billion of merchant GMV.

Can a small high-ticket store compete with these companies?
Not head to head on price or delivery speed, and I would not try. In my experience, a small store wins where buyers need expertise, a real person and a trusted supplier relationship. Wayfair and Chewy are both multi-billion businesses built by focusing on one category.

Wrapping Up

The summary is that no single number crowns one company. Amazon leads on revenue, Shopify leads on published GMV, and the Census Bureau tells us the US market is large and still growing faster than retail overall. For an independent store owner, the lesson is not to chase the giants but to pick a category, build a trustworthy store and own the customer relationship.

This article is general information drawn from company filings and government data as of October 2026. Figures are revised and companies change how they report, so check each source before you quote a number in your own work.

Related Articles

If you are weighing where to sell and which channels to learn next, these guides go deeper on the platforms and sourcing questions this article raises.

• Shopify Dropshipping in 2026
• Temu Dropshipping Guide
• TikTok Shop Dropshipping
• Amazon Plans 300K Holiday Hires as UPS Drops to 100K
• AliExpress Alternatives

Trevor Fenner

Trevor Fenner is an ecommerce entrepreneur and world traveler from Seattle, Washington, and the founder of Ecommerce Paradise, a platform focused on helping entrepreneurs build and scale profitable high-ticket ecommerce and dropshipping businesses. With over a decade of hands-on experience, Trevor specializes in high-ticket dropshipping strategy, niche and product selection, supplier recruiting and onboarding, Google & Bing Shopping ads, ecommerce SEO, and systems-driven automation and scaling. Through Ecommerce Paradise, he provides free education via in-depth guides like How to Start High-Ticket Dropshipping, advanced training through the High-Ticket Dropshipping Masterclass, and fully done-for-you turnkey ecommerce services for entrepreneurs who want a faster, more hands-off path to growth. Trevor is known for emphasizing sustainable, real-world ecommerce models over hype-driven tactics, helping store owners build scalable, sellable, and location-independent brands.

He maintains homes in Seattle and Bali, spends most of the year overseas, and usually returns to Seattle for about a month each summer.

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