With the E-Commerce Market becoming a major sector in the trade and selling industry, various platforms, brands, and companies have emerged to become the most reliable and influential in this brand-new market. One of the biggest names in this industry is Amazon, led by Jeff Bezos and established in 1995, Amazon has since then become one of the leading companies in the E-commerce business. Despite its success, various E-commerce platforms have also emerged to fill in the niche for online selling platforms. This is especially great for online businesses as it allows them to spread their products giving them a much wider reach and larger pool of potential customers. To know which is good for your small business, here is a breakdown of the various companies like Amazon.
eBay
One of the early e-commerce platforms that emerged on the internet, eBay has been the number one competitor for Amazon since its establishment and launch of the same year as Amazon in 1995.
Although the platform’s revenue may have experienced a downfall, eBay has reached a total revenue of $9.89 billion.
The reason why eBay has remained competitive over the years is simply because it allows its sellers to offer the same products that are being sold on Amazon but grants them the ability to auction these products or have fixed prices.
In simple terms, Amazon is a regular shopping mall with retail shops. Meanwhile, eBay has multiple garage sales where the sellers can dictate their prices or even haggle.
Alibaba
One of the causes of Amazon’s success is simply how it has dominated the Western markets, especially in the US and Europe.
Seeing this success, Jack Ma tried to replicate it with “Alibaba” in the Chinese market which has one of the largest populations of potential customers, and it paid off.
With it reaching $11.7 Billion in revenue by 2022, Alibaba has now become of the largest E-commerce platform and a major competitor of Amazon in the E-commerce market, with
Overall, Alibaba has even seen peaks of $134 Billion or $131 billion in revenue, resulting in the E-commerce company becoming one of the top Chinese online companies.
Lazada
With Amazon dominating the US and European markets and Alibaba becoming a major player in the Chinese E-commerce industry, Lazada found its niche in the Southeast Asian markets by selling various products on its platforms from electronics, basic groceries, toys, home furniture, and all kinds of products that are legal to ship and sell.
This is simply due to how major E-commerce companies’ deep focus on the Western markets that they neglected Southeast Asia’s potential. Seeing this trend, Maximilian Bittner founded Lazada in 2012 intending to launch an Amazon-like business in the region.
Currently, Lazada is home to 155,000 sellers, and 3,000 at the same time its customers have reached up to 600 million all across southeast Asian nations such as Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
Conclusion
Overall, Amazon has cemented itself as the largest E-commerce company in the world but despite that various companies have also risen and become its major competitor.
EBay, its unique selling Auction method allowed its sellers to have a variety of revenue gains and flexibility. Alibaba and Lazada aimed to replicate Amazon’s success in the Asian markets, aiming to close the gap and offer customers the ability to shop online.
To conclude, the e-commerce market is an ever-changing landscape where both small and large factors come into play so online businesses must gain knowledge in the variety of platforms and opportunities to spread their reach, tap new potential customers, and grow their business.
