amazon gmv 2024 q1
Amazon GMV Q1 2024 is useful as a marketplace-scale benchmark. TikTok Shop teams should use it to compare whether creator commerce, Shop GMV, paid media ROAS, and owned-site conversion are creating incremental demand rather than only moving sales between channels.
- Query intent: benchmark ecommerce platform scale and understand where social commerce fits in the channel plan.
- Growth metric: compare marketplace GMV with TikTok-assisted revenue, Shop GMV, ROAS, creator output, and repeat customer quality.
- Next action: treat Amazon as a benchmark and use TikTok to create discovery, creator trust, and demand before marketplace comparison.
The booming development of the global e-commerce market has driven the rapid growth of cross-border e-commerce platforms, with Amazon standing out thanks to its powerful logistics network and technological innovation capabilities.
According to TuKe, in the first half of 2024, Amazon's total gross merchandise volume (GMV) reached an astonishing $350 billion, firmly ranking first among the world's 20 mainstream cross-border B2C e-commerce platforms, and leading other platforms by a significant margin.
This achievement not only demonstrates Amazon's strong market dominance, but also highlights its continued expansion capability in the cross-border e-commerce sector.
GMV Ranking of Mainstream Cross-border E-commerce Platforms in the First Half of 2024
Following Amazon, Shopify ranked second with a GMV of $128.1 billion in the first half of 2024. Retail giant Walmart ranked third, with a GMV of about $50 billion in the first half of the year. The fourth place is Southeast Asia's e-commerce giant Shopee, with a GMV of $40.7 billion, while the veteran e-commerce platform eBay ranked fifth, with a GMV of $37 billion.
It is worth mentioning that the "Four Little Dragons" of China's cross-border e-commerce sector—AliExpress, SHEIN, Temu, and TikTok Shop—also made it into the global top fifteen in the first half of 2024. Estimated data shows that both AliExpress and SHEIN have a GMV of about $30 billion, ranking sixth and seventh respectively; Temu ranks ninth with a GMV of about $20 billion; TikTok Shop ranks thirteenth with a GMV of about $10.7 billion.
Ranking of the "Four Little Dragons" in China's Cross-border E-commerce Sector
Speaking of Amazon, it is not surprising that it remains at the top of the e-commerce rankings. As the global e-commerce leader, Amazon has maintained a very solid competitive advantage thanks to its powerful logistics system, technological innovation, and extensive market coverage.
TuKe learned that Amazon demonstrated its astonishing profitability in 2023, earning an average of $636 per second. This figure not only exceeds the combined total of Alibaba ($430) and Pinduoduo ($204), but is also far higher than JD.com ($107) and eBay ($88). Meanwhile, Amazon's market value reached $960 billion that year, making it the e-commerce company with the highest market value in the world.
This year, Amazon has continued its strong growth momentum, with both revenue and profit achieving significant increases. According to the official financial report for the first quarter of 2024, Amazon's net sales increased by 13% year-on-year to $143.3 billion; operating income soared to $15.3 billion, more than doubling from $4.8 billion in the same period last year. Even more striking, net profit surged 229% year-on-year to $10.4 billion.
Image source: esmmagazine (Amazon earns an average of $636 per second)
In the second quarter of 2024, Amazon's revenue reached $148 billion, a 10% increase from $134.4 billion in the same period last year. Meanwhile, benefiting from the continued strong performance of its cloud computing business, Amazon's profit for the quarter soared to $13.5 billion, far exceeding analysts' expectations and higher than $6.7 billion in the same period last year, with profit up 101% year-on-year.
As performance continues to climb, Amazon's market value also achieved a historic breakthrough in 2024. By the end of June, Amazon's stock price had risen by about 4%, and its market value surpassed the $2 trillion mark for the first time. With this, Amazon became the fifth American company in history to exceed a market value of $2 trillion.
Image source: Amazon (Q1 sales reached $143.3 billion)
It is foreseeable that as Amazon continues to invest in its core businesses such as e-commerce and cloud computing, this tech giant's performance will continue to climb.
In the future, we very much hope that Amazon will deliver even more remarkable achievements.
What this signal means for growth teams
Amazon GMV queries are useful when they become operating benchmarks. For TikTok teams, the question is how marketplace scale compares with creator-led demand, Shop conversion, paid media efficiency, and owned-site trust.
Commercial read
- Market signal: TikTok Marketing Information and Solutions
- Published: September 19, 2024
- Commercial lens: TikTok Ads, creators, TikTok Shop, live commerce, and reporting.
- Source transparency: the original source linked in this article
What brands should do next
- Use marketplace GMV as a benchmark, not as the only channel target.
- Compare TikTok Shop growth against marketplace demand, creator output, paid media ROAS, and official-site conversion.
- Build a reporting view that separates awareness, assisted revenue, attributed Shop orders, and repeat customer quality.
- Prioritize categories where creator proof can create demand before buyers compare marketplace alternatives.
Tuke Marketing helps brands connect TikTok Ads, creator partnerships, TikTok Shop operations, live commerce, and reporting into one accountable operating system.
Why should TikTok Shop teams care about Amazon GMV benchmarks?
GMV benchmarks help teams understand marketplace scale and compare whether TikTok Shop, creator commerce, and paid media are creating meaningful incremental demand.
Can TikTok Shop replace Amazon for ecommerce brands?
Usually no. TikTok Shop is better treated as a social commerce growth channel that can influence discovery, creator trust, and conversion alongside Amazon and owned sites.
How does Tuke use ecommerce benchmark signals?
Tuke uses benchmark signals to design TikTok Ads, creator, Shop, live commerce, and reporting plans that match the brand category and market-entry goals.
Source transparency: Tuke cites the original source linked in this article and adds its own operating analysis for brands evaluating TikTok growth decisions.