Top U.S. E-commerce Platforms of 2024: Amazon Leads, TikTok Soars

On July 2, according to foreign media reports, the top five e-commerce platforms in the U.S. for 2024 are Amazon, eBay, Temu, TikTok Shop, and Walmart. With successful achievements this year, Temu and TikTok Shop are poised to surpass Walmart.

Currently, Amazon remains the largest platform in the U.S., with sales three times the combined total of the other platforms. Based on predictions from eMarketer and Marketplace Pulse, Amazon's sales this year are expected to reach $325 billion, considering only third-party seller sales. Including first-party retail sales, Amazon is likely the largest online and offline retailer in the U.S.

Image source: Marketplace Pulse

eBay's sales for this year are projected to reach $35 billion, maintaining similar figures to those of 2022 and 2023. eBay still holds a significant position in the U.S. market but is primarily focused on "enthusiast" groups, making it not the first choice for most brands looking to expand their sales channels. eBay CEO Jamie Iannone has stated that companies selling current season products often prefer Amazon or Walmart for their sales. In response, eBay is striving to enter this market segment.

Walmart's sales are estimated to reach $10 billion this year. According to an eMarketer report, Walmart's third-party sales will amount to $1.037 billion. At Amazon, third-party sales account for over 60% of its total sales, while Walmart's share is only around 10%. However, like Amazon, Walmart's third-party marketplace is growing faster than its first-party sales.

Additionally, Temu has set a sales target of $60 billion for this year, with 40% coming from the U.S. market. Temu first launched in the U.S. market in September 2022, but its sales forecast in Europe may be even higher. Temu is rapidly expanding in the U.S. market, bringing in sellers with local warehouses, though the majority of sellers are still based in China.

TikTok's goal is to grow its TikTok Shop U.S. e-commerce business to $17.5 billion this year, marking its first full year of operation. This growth is attributed to the active promotion of shopping content and live streaming. According to 36Kr, TikTok plans to achieve revenues of $12-13 billion in the second half of this year, indicating it might not reach the $17.5 billion target.

Overall, besides offline retail and DTC channels, only five platforms have sales reaching or exceeding $10 billion, with Amazon firmly at the top. Meanwhile, TikTok is rapidly becoming a dominant social e-commerce channel. eBay continues to focus on its resale business, and Temu primarily caters to Chinese sellers, making it a less optimal channel for U.S. brands looking to expand.