From legacy titans to fast-fashion disruptors, twelve platforms are battling for dominance in the North American ecommerce market.
In an era where digital storefronts are as crucial as physical ones, several online marketplaces have risen to prominence in North America.
This overview covers the top 12 online marketplaces that are shaping the North American ecommerce landscape in 2024, distinguished by their vast user bases, extensive product assortments, and impressive revenue figures.
1. Amazon
As a global ecommerce titan, Amazon continues to lead with unparalleled site visits and consumer spending. In 2024, it reported a staggering number of monthly visitors, solidifying its position at the top. Its revenue underscored its dominance, further emphasizing the marketplace’s vast selection and customer loyalty.
- In December 2023, Amazon.com had approximately 2.27 billion monthly visits (Statista)
- Amazon Prime is estimated to account for 53.1% of US paid retail membership fee revenues in 2023 (Yaguara)
- For Mexico, latest figures found by Ecommerce North America put Amazon Mexico visits at just over 180 million visitors in January 2024 (SEMrush)
2. Walmart
Walmart’s online marketplace has seamlessly extended its retail prowess into the digital realm. With millions of unique monthly visitors, it has become a preferred shopping destination, not just for everyday essentials but for a broad range of products, contributing significantly to its ecommerce revenue.
- In 2024, Walmart Inc.’s US grocery ecommerce sales will reach $58.92 billion and make up 26.9% of total grocery ecommerce sales in the US, per eMarketer’s November 2023 forecast.
- Online sales accounted for more than 13% of total sales in fiscal 2024. Pickup and delivery drove the online sales growth, chief financial officer John David Rainey told investors.
- There are around 100 million unique monthly visitors to Walmart.com. This number varies and peaks during the holiday season.
3. eBay
eBay remains a powerhouse for both new and used goods, attracting a diverse audience interested in auctions and buy-it-now options. Its user base and revenue in 2023 showcased its enduring appeal and the vast array of items available, from collectibles to electronics.
- eBay generated $10.11 billion in revenue in 2023 (Digital Commerce 360)
- eBay still commands a respectable 13.11% share of online visits as of April 2023 (Credence Research)
- By the end of 2022, eBay had 132 million active buyers on the marketplace (eBay Financial Report)
4. Mercado Libre
Dominating the ecommerce scene in Mexico and Latin America, MercadoLibre has also made significant inroads in North America. Its user-friendly platform and extensive marketplace have drawn in millions of users, with revenue growth reflecting its expanding presence.
- In 2023, MercadoLibre, Inc. had approximately 218 million unique active users. (Statista)
- In 2023, MercadoLibre, Inc. achieved a net revenue of approximately 14.5 billion U.S. dollars an increase of over 37 percent compared to the previous year. (Statista)
- MercadoLibre has operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.
5. Best Buy
BestBuy has capitalized on its reputation for electronics and appliances, extending its expertise online. The marketplace attracted tech enthusiasts and general consumers alike, with visitor and revenue figures in 2023 highlighting its successful online transition.
- Best Buy operates a closed online marketplace that includes listings from third-party sellers who are thoroughly vetted by the company.
- For fiscal year 2024, Best Buy expects its overall revenue to be between $43.8 billion to $45.2 billion, although comparable sales are anticipated to decline by 3% to 6% across the year (Best Buy Corporate News and Information).
6. Wayfair
Specializing in home goods, Wayfair’s niche focus has paid off, drawing in millions of consumers looking to furnish and decorate their homes. Its revenue and site visits in 2023 underscored the demand for an online destination dedicated to home essentials.
- Wayfair reported having 21.8 million active customers in 2023, which shows a significant decrease from 31.1 million active customers in 2021. However, the fourth quarter of 2023 saw a return to positive year-over-year growth in active customers, suggesting a potential reversal of the downward trend (Business of Apps) (Wayfair Investor Relations).
- The company processed 41 million orders in 2023. This was an increase from previous years, indicating a higher volume of transactions despite the smaller customer base (Business of Apps).
- About 73% of Wayfair’s U.S. customers were female as of 2020 (Yahoo Finance).
7. Target
Target’s online marketplace has mirrored its in-store success, offering a wide range of products with the convenience of home delivery. The number of visitors and revenue in 2023 indicated strong consumer engagement and trust in the brand.
- Target’s same-day services, which include in-store pickup, Drive Up, and Shipt, grew by 13.6% in the fourth quarter of 2023, representing more than 10% of total sales (Target Corp).
- Target plans to build hundreds of new stores and invest in most of its nearly 2,000 existing stores over the next decade to enhance customer experience (Target Corp).
- In 2024, Target aims to grow its owned brand portfolio, which is already worth more than $30 billion, by launching and expanding several brands (Target Corp).
8. Etsy
Etsy’s unique marketplace for handmade, vintage, and creative goods has fostered a dedicated following. Its growth in visitors and revenue in 2023 affirmed its position as a go-to destination for unique finds and personal touches.
- Etsy generated a revenue of $2.75 billion in 2023, marking a 7.1% increase from the previous year (Capital One Shopping) (Yaguara).
- The Gross Merchandise Sales (GMS) on Etsy totaled approximately $13.16 billion in 2023, with a take rate of 15.2% (Capital One Shopping).
- The top six retail categories on Etsy, which include homewares, jewelry, apparel, craft supplies, paper and party supplies, and toys and games, accounted for around $10 billion or 87% of the total GMS in 2023 (Capital One Shopping).
- Etsy had 95.1 million active buyers and 7.3 million sellers in 2023 (Capital One Shopping) (Business of Apps).
9. Newegg
Catering to the tech-savvy, Newegg’s focus on electronics, computer hardware, and gaming gear has attracted a specialized audience. Its performance metrics in 2023 demonstrated its strength in a niche market.
- Newegg Canada Marketplace, an extension of the Newegg platform, was established to leverage Newegg’s strong customer base for third-party sellers (Newegg).
- Newegg has built a large and loyal customer base, which has grown to over 30 million registered members, providing a solid foundation for its marketplace activities (Newegg).
- Newegg offers specialized services like ‘Shipped by Newegg’ and other fulfillment services, enhancing the selling experience on its platform by providing comprehensive logistics support to sellers (Newegg).
10. Macy’s
The digital extension of the iconic department store, Macy’s online marketplace offers fashion, home goods, and beauty products. Its 2023 figures highlighted its successful blend of tradition and modern ecommerce trends.
- The marketplace features 400 brands across 20 product categories, including apparel, beauty, home improvement, toys, and pet products (Digital Commerce 360).
- Macy’s marketplace is open to third-party sellers
- Macy’s digital channels accounted for 35% of its total sales, totaling approximately $24.46 billion, indicating a significant online presence and contribution to the overall revenue (Q4cdn).
11. SHEIN
SHEIN has made waves with its fast-fashion model, attracting a vast audience interested in trendy, affordable clothing. Its impressive site visits and revenue in 2023 showcased its rapid growth and appeal among fashion-forward consumers.
- The platform has an impressive 88.8 million active shoppers globally, with a substantial portion based in the US (Business of Apps).
- On average, SHEIN adds about 6,000 new items to its inventory daily, demonstrating its fast-paced approach to meeting fashion trends (BrizFeel).
- SHEIN’s app was downloaded more than 200 million times in 2022, maintaining its position as one of the most downloaded shopping apps globally (Business of Apps) (BrizFeel).
12. Temu
A newcomer to the scene, Temu has quickly garnered attention with its wide range of products and competitive pricing. Its growth in 2023 pointed to its potential to become a significant player in the online marketplace arena.
- Temu has experienced explosive growth since its launch in 2022, reaching over 100 million active users in the US by May 2023 (Business of Apps) (MobiLoud).
- By June 2023, Temu’s monthly gross merchandise volume (GMV) had reached $1 billion, showcasing the scale of transactions on the platform (Business of Apps).
- Generation Z makes up 35% of Temu’s entire user base, indicating its strong appeal among younger consumers (The Tech Report).
