China Leads the Global E-Commerce Market

The global e-commerce market is dominated by China and the United States. According to data from Statista Market Insights, the country's total online sales amounted up to almost $1.5 trillion last year. The United States is in rank 2 with sales of $1.2 trillion and Japan comes a distant third as revenues reached $169 billion.

Already catering to a giant market back home, China has recently been trying to gain a stronger foothold in international online shopping. More and more Chinese e-commerce firms are branching out with platforms for the international market. Temu by Chinese PDD Holding (formerly Pinduoduo Inc.) is the most recent example of this. The site is expected to have recorded record sales of 54 billion in 2024. Clothing retailer Shein is a second, hugely successful Chinese overseas venture that will have reached revenues almost as high last year, Statista estimates. Previously, Alibaba had tried its hand at overseas markets with AliExpress. A similar platform giving consumers more direct access to Chinese goods, Wish, was a new, independent venture and was founded in the United States in 2010.

The term e-commerce refers to the trading of goods and services on the Internet. Depending on the trading participant, a distinction is made between, among other things, B2B (corporate customer business), B2C (trade between companies and consumers) and C2C e-commerce (trade between companies).