SINCE venturing into the United States market, the Chinese e-commerce platform Alibaba (NYSE: BABA) has continued to record significant growth despite operating in the shadow of Amazon (NASDAQ: AMZN). Notably, the U.S. online retail giant still controls the highest share of the market despite lagging in growth rate.
In this line, data presented by Finbold indicates that Amazon has so far recorded a 28.12% growth rate in online traffic across the U.S. in 2022. Notably, the growth rate trails Alibaba by at least four times less, with the China-based online retail giant standing at 98.45%. Among the selected e-commerce platforms, Alibaba’s growth rate ranks third overall, while Amazon occupies the eighth slot.
Elsewhere, Shein has the highest growth rate at 183.45%, followed by Instacart at 174.99%. Kroger (NYSE: KR) ranks in the fourth spot at 81.92%, with Nike (NYSE: NKE) closest to the top five at 54.16%. Etsy (NASDAQ: ETSY), Aliexpress, and Walmart (NYSE: WMT) are also all worthy mentions, with a growth rate of 26.16%, 13.51%, and 11.65%, respectively.
Other notable e-commerce platforms gaining significant online traffic include Walgreens (10.79%), CVS (10.7%), Gap (7.9%), and Chewy (5.73%).
Amazon still controls the U.S. market
The report pointed out the significance of Amazon’s market share despite Alibaba appearing to surge in growth rate. According to the research report:
“It is worth noting that despite the slowed growth rate, Amazon still ranks as the leading e-commerce platform in the U.S., solidifying its position in recent years. However, based on Amazon’s existing growth rate position, it should not be interpreted as the Chinese giant is eating into its U.S. market share. Amazon still has the upper hand regarding growth, profitability, and valuation.”
Additionally, the companies have a varied growth rate while adopting a unique business model. Overall, Amazon’s main focus is to increase sales, while Alibaba concentrates on moving products.
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