Amazon has cemented its place as the leading global retailer in the world, according to data from TradingPlatforms.com. The online giant crossed the trillion-dollar mark midway through 2020 and finished the year with a market capitalisation of $1.63 trillion.
The second-highest market capitalisation belonged to Alibaba, another eCommerce site, with $629.7 billion – an estimated difference of almost 90 per cent.
TradingPlatforms.com says that Amazon grew tremendously in 2020 as a direct result of the Covid-19 pandemic. Amazon’s market capitalisation experienced a 78.4 per cent year-on-year growth from 2019-2020 and grew a modest 3.6 per cent from Q3 2020 to Q4 2020.
Alibaba had a more tumultuous 2020 compared to most, including controversies involving the company and its founder Jack Ma, late in the year. This caused a 20.8 per cent quarter-on-quarter decline in growth from Q3 2020. Despite this, Alibaba still experienced a 10.6 per cent year-on-year growth since 2019.
The top 25 global retailers, according to TradingPlatforms.com, are listed as Amazon, Alibaba, Walmart, Home Depot, NIKE, Pinduoduo.com, Costco Wholesale, JD.com, Lowe’s, Inditex, Fast Retailing, CVS Health, Target, Kering, TJX, adidas, Dollar General, Ross Stores, Wesfarmers, Alimentation Couche-Tard, eBay, Walgreens, Boots Alliance, Woolsworths Group, and Magazine LuizaSeven.
Notably, findings show that 77 per cent of the combined market cap from the top 25 global retailers were from online retailers.
According to Keshav Kumar Jha, business fundamentals analyst at GlobalData.com: “The ability of these companies to capitalise on their distribution strength and offer uninterrupted and timely service during the pandemic also helped them win investors’ confidence.”
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