The Global D2C E-Commerce Market: Leaders, Trends, and Regional Insights

What Is D2C?

Direct-to-consumer (D2C) e-commerce is a business model in which manufacturers sell their products directly to consumers through their own online stores, thereby bypassing intermediaries like wholesalers or online marketplaces. D2C became particularly popular during the pandemic, as brands sought to reach consumers outside of traditional retail channels. Instead, brands targeted consumers where they were spending most of their time; at home.

D2C offers several advantages for retailers.

• It provides greater control over the entire customer journey and

  access to valuable first-party purchasing data.

• Brands can create more personalized shopping experiences, leverage targeted digital advertising, and respond quickly to market trends.

• It also leaves higher control over profit margins and shortens the traditional product launching process.

The Global Top 10 E-Commerce D2C Retailers

D2C revenues have grown since 2020, which reflects how brands have increasingly adopted this model and relied on the direct online channel to serve customers rather than relying on marketplaces. Among retailers operating under the D2C model, those generating the highest global revenues include:

• Nike leads with US$53.2 billion worldwide e-commerce net sales.

• It is followed by Shein at US$41.8 billion.

• Third is Ikea, which generated US$11.3 billion net sales in 2025.

A prevalence of fashion brands is common, which is due to structural advantages that the D2C model offers to the fashion industry. Fashion relies on frequent product drops and rapidly changing trends. D2C allows brands to respond quickly, launch limited collections, and test demand without being constrained by traditional retail buying cycles.

Regional Distribution: North America and Europe Are D2C Strongholds

Europe and North America offer the highest influence of D2C brands on the overall market, compared to South America and Asia.

In Asia, only 1% of total market revenues are accounted for by direct-to-consumer online stores.

Market maturity plays a role in this distribution. Traditional brands with an own online store have a longer standing in Europe and North America. This is different in South America and Asia, where the marketplace model dominates since the inception of e-commerce.

In addition, both North America and Europe have a strong culture of brand loyalty and lifestyle-driven purchasing, particularly in sectors like fashion, beauty, and home goods. This allows D2C brands to leverage storytelling, social media, and influencer marketing effectively, which enables them to respond to prevailing consumer preferences.

North America's Leading D2C Retailers: Apple, Shein, GAP

As a general rule, the top 10 D2C retailers have a greater impact in markets where D2C is less developed. That means that when the overall D2C market is smaller, the largest players account for a bigger share. In more mature markets like North America, influence is spread across many smaller D2C retailers.

• Apple leads the way in North America, with US$26.4 billion in net sales in 2025.

• It is followed by Shein with US$18.6 billion.

• GAP is third, with US$5.9 billion in net sales on the continent.

Europe Sees Apple, Shein and Ikea on Top of the D2C Market

Europe has long been a D2C hotspot. But the market is more concentrated among the top 10 players. That is because of the influence of Eastern and Southern Europe, where D2C remains less significant. Top D2C retailers in Europe are:

• Apple in first place with US$15.2 billion in 2025 net sales.

• Followed by Shein with US$13.9 billion.

• Ikea is the third-largest D2C retailer with net sales of US$8.7 billion.

Conclusion: Global D2C

Direct-to-consumer (D2C) e-commerce has reshaped global retail by allowing brands to engage customers directly, gain valuable first-party data, and respond quickly to trends.

Fashion and lifestyle brands dominate, taking advantage of fast-moving consumer preferences and personalized experiences. North America and Europe lead the D2C market, while Asia and South America remain largely marketplace-driven.