For the second year, Newsweek has teamed up with respected research and data firm Statista to compile our annual list of America's Fastest Growing Online Shops. We looked at online shops whose traffic and sales have been growing very quickly and selected the 1,000 best across 37 categories in eight industries: fashion and accessories; food, health and personal care; garden and craft; home living; leisure, games and hobby; office, electronics and media; sports, outdoor and motor; and universal providers–shops that sell everything.
"Fashion (single brand)" is the largest individual category with 129 shops listed. We ranked shops on three criteria: revenue growth, traffic growth and technical details of their sites, like loading time and mobile optimization, which indicate how easy a site is to use and how long customers spend on it. On average, the shops in our list grew their traffic by 4.1 million visits last year. About 40 percent of the shops ranked here also appeared in our first ranking in 2021.
No matter what you're shopping for, we hope this listing makes it easier to find the best place online to get it.
METHODOLOGY
The America's Fastest Growing Online Shops 2022 highlights online entities that experienced rapid growth and are trending in the market with brands that show
high levels of quality, service and trust.
The evaluation focused on three key areas: sales, traffic and website technical details.
In total, more than 10,000 of the largest online shops were compiled using Statista's proprietary research database along with public online databases, online directories and price comparison websites. Online shops selling mainly digital goods (e.g.: netflix.com), subscription-based shops, C2C marketplaces
(e.g.: ebay.com), B2B online shops, showcase websites and online shops that do not display their site in English were excluded from further evaluation. The online shops were then organized according to their main product offering into 37 categories in 8 industries.
The online shops had to meet the following criteria in order to progress to the evaluation:
1- At least 1 million annual website visits in the U.S.
2- At least $1 million revenue in the U.S.
3- Growth in both traffic and revenue
4- More than half of traffic come from the U.S.
5- More than half of sales come from the U.S.
After the screening, shops were evaluated based on revenue growth (both absolute and
relative), traffic growth (both absolute and relative) and technical details which show the performance of the website.
(Absolute and relative measures are considered to reward companies that maintain high growth rates with high initial revenue values).
Growth key performance indicators (KPIs) were evaluated from period 1 (March 2020 through February 2021) to period 2 (March 2021 through February 2022).
The top 1,000 online shops with the highest scores were then awarded "America's Fastest Growing Online Shops 2022". The companies are awarded by their scores in growth rates as either 'high', 'very high' or 'extremely high'.
EVALUATION
Each online shop was evaluated in three dimensions solely based on three objective KPIs. SALES
Sales growth in the last two years. Data from Statista's ecommerceDB database. Data were weighted by relative and absolute growth. 40 percent of final score. TRAFFIC
Online traffic growth in the last two years. Data weighted by relative and absolute growth. 40 percent of final score. TECHNICAL DETAILS
Quality assurance of the evaluated online shops: Loading time, bounce rate, page views per visit, average time on site, mobile optimization and cookies.20 percent of final score.
The rankings are comprised exclusively of online shops that are eligible regarding the scope described here. A mention in the ranking is a positive recognition
based on traffic and revenue growth at the time. The ranking is the result of an elaborate process which, due to the interval of data-collection and analysis,
is a reflection of the time periods March 2020 through February 2021 and March 2021
through February 2022.
Furthermore, events following February 28, 2022, and/or pertaining to individual persons affiliated/associated with the online shops were not included in the metrics. As such, the results of this ranking should not be used as the sole source of information for future deliberations. The information provided in this ranking should be considered in conjunction with other available information
about online shops or, if possible, accompanied by a visit to an online shop. The quality of online shops that are not included in the rankings is not disputed.
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