While many brick-and-mortar retailers are struggling, online sales continue to surge throughout the industry, further syphoning business away from traditional retailers. More than a billion dollars is spent online every day, but which retailers are cutting up the biggest piece of the pie?
According to eMarketer, Amazon is leading the pack by a fair margin with over $94 billion in revenue over the past 12 months, more than the other nine members of the top 10 combined.
The entire list of the 50 retailers earning the most online can be viewed here. Below is a quick look at the 10 e-commerce leaders with the greatest revenue:
The king of e-commerce posted online revenue of $94.6 billion over the past 12 months, more than five times the revenue of second place Apple. Amazon is synonymous with online shopping and is the undisputed leader in the space, in fact Gartner recently reported that 55% of product searches originated on Amazon in 2016.
Apple’s $16.8 billion in e-commerce sales pales in comparison to Amazon’s gaudy sales results but it is still a massive number and over $2 billion more than third-place Walmart. The consumer-tech leader posted a 40% increase in year-over-year e-commerce sales, although just 7.7% of sales took place online.
Retail’s biggest player is making inroads in the online space as it battles Amazon for online supremacy. Walmart collected $14.4 billion in online revenue over the past 12 months and will likely see that number rise in coming years as its acquisition of Jet.com and plan to greater utilize its physical presence bear fruit.
While the American retail icon continues to struggle amid slumping mall traffic and swirling rumors of a sale, online sales numbers continue to grow. The retailer’s $4.6 billion in online sales is a 12.5% year-over-year increase and represents 17.9% of Macy’s revenue.
Costco built its empire on a unique warehouse style in-store experience, but is steadily growing its online sales ― e-commerce revenue increased by 11.4% over the past year. While Costco collects just 3.5% of its total revenue online, it still represents $4.2 billion in sales and is good for fifth overall.
QVC is one of the original “omnichannel” retailers having operated a multi-channel shop-at-home organization for decades. With all of that experience in its back pocket it is no surprise that QVC is excelling online earning over $4 billion in revenue, which represents 46.6% of total sales.
The upscale department store chain has adopted well to the omnichannel model, bringing in $3.2 billion in e-commerce sales, representing over 21% of total revenue. While the online sales figures are impressive they have not come without cost, the retailer’s spending on technology, supply chain, and marketing capabilities continues to grow year-over-year.
Target’s $3 billion in online sales is good for eighth best in the U.S. over the past year. While the lion’s share of sales for Target still occur at the store level online sales increased 22.9% and now represent 4.4% of total sales. The retailer recently announced plans to invest over $7 billion over the next three years on its digital capabilities to supercharge the in-store and online experience.
The department store retailer in in the midst of a multi-year transformation effort designed to infuse the enterprise with digital tech in-store and out. Its latest investment in ship from store and buy online pick up in store is helping shorten the last mile of fulfillment. The digital investments helped increase online revenue by 22.9% to $3 billion over the past 12 months.
Another retailer that has felt the burn of dwindling mall traffic, The Gap is betting big on it e-commerce capabilities, especially its mobile offerings, to keep the brand profitable. Over the past year the retailer earned $2.5 billion from its e-commerce efforts, which represents 16.3% of total revenue.