This Seller Overtook Anker in 2024
If you were asked to guess who the most profitable seller on Amazon is, the chances are good that you would never guess this seller (or category).
Recently released public records reveal that the most profitable seller on Amazon is Giant Star Technology, based in Hangzhou, China (the same city that Alibaba is based). Their most popular brand on Amazon is Workpro, focused on selling primarily tools of various types. Current records reveal their revenue during the first three quarters of 2024 was 11.083 RMB ($1.5Billion USD). While this is slightly less than Anker's 16.4billion RMB, their profitability has been much higher.
Below is a brief summary of their business and profitability.
Related Reading: Giant Star Technology Seller Profile
The Most Profitable Company on Amazon?
Giant Star Technology is making waves in cross-border e-commerce. In 2024, its net profit is expected to grow 35%-50%, reaching up to 2.537 billion yuan. Although Anker Innovations leads in revenue (16.4 billion yuan vs. Giant Star's 11.083 billion yuan in the first three quarters of 2024), Giant Star remains more profitable due to efficient operations and a strong market focus.
In 2023, Giant Star earned 10.929 billion yuan in revenue and exceeded Anker's net profit by 77 million yuan. A surge in North America's tool demand, along with streamlined inventory and expanded production, has fueled its growth. Its Vietnam production base is a key factor, tripling capacity to fully support North American markets.
Challenges & Opportunities Ahead
Despite its success, Giant Star faces hurdles. Rising U.S. costs hurt subsidiaries like Arrow Fastener, resulting in over 100 million yuan in goodwill impairments. Meanwhile, Anker's diversified strategy across online and offline channels keeps it ahead in revenue but behind in profitability.
Both companies excel in global innovation. Giant Star focuses on supply chain and manufacturing efficiency, while Anker prioritizes brand visibility through e-commerce and retail. Together, they set the standard for cross-border e-commerce success.
