Business owners and executives should always be prepared for the surprising power of momentum. In an era of sluggish retail sales, e-Marketer reports that the only trillion-dollar industry expanding at double-digit rates is e-commerce. The staggering number of e-commerce websites – 110,000 English-language online stores currently featuring on Alexa’s top one million sites – is a testament to existing competition for a piece of the e-commerce pie.
Will this impressive growth trend continue? Forrester cites two reasons that online retail sales will grow from $294 billion in 2014 to $414 billion by 2018:
- Increased investment capital for online sales divisions.
- The proliferation of tablets and smartphones in the online shopping experience.
For example, over 50 percent of online consumers in the U.S. already have a smartphone. A third solid reason for projected future e-commerce dominance is convenience – 24/7 access and virtually unlimited inventory selection combined with prices that are frequently lower than brick-and-mortar stores.
A Top 10 List of U.S. E-Commerce Websites
Companies of all sizes can learn much of what they need to know about how to succeed in e-commerce by studying the current leaders in this field. Here is the current e-commerce leaderboard, which we have listed in descending order, based on Revenue:
1) Walmart – Walmart’s slogan of “Save money. Live better.” is part of a current marketing campaign reminding shoppers of how lower prices help the bottom line for e-consumers.
- Company: Walmart
- Established: 1962
- Founders: Sam Walton
- Revenue: $476.53 Billion
- Headquarters: Bentonville, Arkansas, U.S.
- Net Income: $16.022 billion
- Employees: 2,200,000
- Twitter Followers: 599,793
- Facebook Likes: 34,839,345
2) Amazon – As reported by Forbes in October 2014, Amazon is opening a physical store in New York in an effort to sell products requiring a “hands-on” experience by shoppers.
As suggested by Amazon’s recent venture with physical retail stores, one practical lesson is that a brick-and-mortar retailing environment still has a place for buyers who want to experience a genuine “look and feel” before buying.
- Company: Amazon
- Established: 1994
- Founders: Jeff Bezos
- Revenue: $74.45 Billion
- Headquarters: Seattle, WA
- Net Income: $274 million
- Employees: 117,300
- Twitter Followers: 1,526,074
- Facebook Likes: 25,608,431
3) Best Buy – Their current slogan is “Expert Service. Unbeatable Price.” Best Buy provides a price match guarantee and a free in-store pickup option.
- Company: Best Buy
- Established: 1966
- Founders: Richard M. Schulze
- Revenue: $ 42.41 Billion
- Headquarters: Richfield, Minnesota, U.S
- Net Income: $532 million
- Employees: 140,000
- Twitter Followers: 588,267
- Facebook Likes: 7,080,275
4) Sears Holding Corp – This holding company combines two household retail names, Sears Roebuck and Kmart. A social media platform called “Shop Your Way” provides a rewards program.
- Company: Sears Holding Group
- Established: 2005
- Founders: Merger – Kmart Holding & Sears
- Revenue: $36.19 Billion
- Headquarters: Hoffman Estates, Illinois
- Net Income: $ -1.37 billion
- Employees: 249,000
- Twitter Followers: Sears-138,774 ; Kmart-109,028
- Facebook Likes: Sears-3,742,012 ; Kmart-1,443,235
5) Macy’s – “The Magic of Macy’s” is a marketing slogan designed to remind e-consumers of a priceless positive image that originated with the timeless holiday movie classic, “Miracle on 34th Street.”
- Company: Macy’s
- Established: 1858
- Founders: Isidor Straus, Rowland Hussey Macy
- Revenue: $27.93 Billion
- Headquarters: Cincinnati, Ohio
- Net Income: $730 million
- Employees: 172,500
- Twitter Followers: 643,574
- Facebook Likes: 14,536,324
6) Staples – Along with other select merchants, Staples allows e-consumers to shop with optional extra security by using Apple Pay. With a Staple Rewards Plan, “Never Pay for Shipping.”
- Company: Staples
- Established: 1986
- Founders: Thomas G. Stemberg, Leo Kahn, Myra M. Hart
- Revenue: $23.11 Billion
- Headquarters: Framingham, Massachusetts, U.S.
- Net Income: $ −210.7 million
- Employees: 83,008
- Twitter Followers: 301,897
- Facebook Likes: 1,333,403
7) Kohl’s – A recent slogan of “In a Word Yes” reflects an effort by Kohl’s to provide a positive marketing theme that conveys easy shopping, hassle-free returns and savings.
- Company: Kohl’s
- Established: 1962
- Founders: Maxwell Kohl
- Revenue: $19.03 Billion
- Headquarters: Menomonee Falls, Wisconsin
- Net Income: $889.0 million
- Employees: 137,000
- Twitter Followers: 298,882
- Facebook Likes: 11,230,827
8) EBay – Due to its retail marketplace concept, eBay provides the opportunity for individuals and businesses to sell both new and secondhand merchandise through an established e-commerce brand.
- Company: EBay
- Established: 1995
- Founders: Pierre Omidyar
- Revenue: $16.05 Billion
- Headquarters: San Jose, CA
- Net Income: 86 billion
- Employees: 33,500
- Twitter Followers: 433,479
- Facebook Likes: 7,790,930
9) Office Depot – Reflecting market consolidation of products for office use, Office Depot is now combined with OfficeMax. “Now One Company. Now One Website.”
- Company: Office Depot
- Established: 1986
- Founders: Late F. Patrick Sher
- Revenue: $11.49 Billion
- Headquarters: Boca Raton, Florida
- Net Income: $ -20 million
- Employees: 64,000
- Twitter Followers: 74,007
- Facebook Likes: 891,518
10) Overstock.com – With a slogan of “It’s All About the O,” this company specializes in buying inventory at liquidations such as when Circuit City went out of business.
- Company: Overstock
- Established: 1999
- Founders: Patrick M. Byrne
- Revenue: $1.3 Billion
- Headquarters: Salt Lake City, UT
- Net Income: $88.5 million
- Employees: 1,500
- Twitter Followers: 50,796
- Facebook Likes: 899,546
E-Commerce Questions Ahead
With the e-commerce retailing revolution already underway, it is natural to wonder what is ahead. The prudent approach is for businesses and individuals to keep an eye on the developing trends of emerging e-commerce companies in the US. In the meantime, here are several open questions without a definitive answer at this time:
- Will physical stores become extinct?
- What is the future for retail real estate?
- Is the mall experience losing its appeal?
What do you think? Please let us know by leaving a comment.
– Data Entry Outsourced
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