The booming development of the global e-commerce market has driven the rapid growth of cross-border e-commerce platforms, with Amazon standing out thanks to its powerful logistics network and technological innovation capabilities.

According to TuKe, in the first half of 2024, Amazon's total gross merchandise volume (GMV) reached an astonishing $350 billion, firmly ranking first among the world's 20 mainstream cross-border B2C e-commerce platforms, and leading other platforms by a significant margin.

This achievement not only demonstrates Amazon's strong market dominance, but also highlights its continued expansion capability in the cross-border e-commerce sector.

GMV Ranking of Mainstream Cross-border E-commerce Platforms in the First Half of 2024

Following Amazon, Shopify ranked second with a GMV of $128.1 billion in the first half of 2024. Retail giant Walmart ranked third, with a GMV of about $50 billion in the first half of the year. The fourth place is Southeast Asia's e-commerce giant Shopee, with a GMV of $40.7 billion, while the veteran e-commerce platform eBay ranked fifth, with a GMV of $37 billion.

It is worth mentioning that the "Four Little Dragons" of China's cross-border e-commerce sector—AliExpress, SHEIN, Temu, and TikTok Shop—also made it into the global top fifteen in the first half of 2024. Estimated data shows that both AliExpress and SHEIN have a GMV of about $30 billion, ranking sixth and seventh respectively; Temu ranks ninth with a GMV of about $20 billion; TikTok Shop ranks thirteenth with a GMV of about $10.7 billion.

Ranking of the "Four Little Dragons" in China's Cross-border E-commerce Sector

Speaking of Amazon, it is not surprising that it remains at the top of the e-commerce rankings. As the global e-commerce leader, Amazon has maintained a very solid competitive advantage thanks to its powerful logistics system, technological innovation, and extensive market coverage.

TuKe learned that Amazon demonstrated its astonishing profitability in 2023, earning an average of $636 per second. This figure not only exceeds the combined total of Alibaba ($430) and Pinduoduo ($204), but is also far higher than JD.com ($107) and eBay ($88). Meanwhile, Amazon's market value reached $960 billion that year, making it the e-commerce company with the highest market value in the world.

This year, Amazon has continued its strong growth momentum, with both revenue and profit achieving significant increases. According to the official financial report for the first quarter of 2024, Amazon's net sales increased by 13% year-on-year to $143.3 billion; operating income soared to $15.3 billion, more than doubling from $4.8 billion in the same period last year. Even more striking, net profit surged 229% year-on-year to $10.4 billion.

Image source: esmmagazine (Amazon earns an average of $636 per second)

In the second quarter of 2024, Amazon's revenue reached $148 billion, a 10% increase from $134.4 billion in the same period last year. Meanwhile, benefiting from the continued strong performance of its cloud computing business, Amazon's profit for the quarter soared to $13.5 billion, far exceeding analysts' expectations and higher than $6.7 billion in the same period last year, with profit up 101% year-on-year.

As performance continues to climb, Amazon's market value also achieved a historic breakthrough in 2024. By the end of June, Amazon's stock price had risen by about 4%, and its market value surpassed the $2 trillion mark for the first time. With this, Amazon became the fifth American company in history to exceed a market value of $2 trillion.

Image source: Amazon (Q1 sales reached $143.3 billion)

It is foreseeable that as Amazon continues to invest in its core businesses such as e-commerce and cloud computing, this tech giant's performance will continue to climb.

In the future, we very much hope that Amazon will deliver even more remarkable achievements.