eCommerce companies in India have grown as there is an increasing demand for online shopping due to ease, low prices, and the lack of time. India’s eCommerce market is expected to hit US$ 350 billion by 2030. In recent years, India has experienced a boom in internet and smartphone penetration, mainly driven by the ‘Digital India’ initiative. Increased digital literacy has led to the entry of many eCommerce platforms into the market. The heavy investment made by the Government of India in rolling out a fiber network for 5G is also helping boost eCommerce in India.
India is emerging as a global leader in the digital world and commerce. As such, the Indian eCommerce industry is expected to become the second-largest eCommerce market in the world by 2034.
Types of eCommerce Industries
There are three main types of eCommerce industries. They are as follows:
- Business to Business (B2B) – for example, Alibaba, Acme, and Shopify. It sells goods or services to other businesses through an online sales portal.
- Business to Consumer (B2C) – for example, Expedia, Trivago, and Amazon. This is also known as retail eCommerce. It is a sale between a business organization and consumers.
- Consumer to Consumer (C2C) – for example, Craigslist, Etsy, and eBay. In this type, the sale or trade is between consumers.
The pillars of eCommerce are profitability, productivity, ease of payment, and personalisation. It is essential to ensure that eCommerce provides profitability. Without profit, eCommerce businesses will collapse, leading to company losses. This can also have a cascading effect on support functions such as shipping and courier delivery, which help fulfill orders. Productivity and payment will lead to profitability. Personalisation ensures that customers remain loyal to the eCommerce business. It builds the confidence of the customer in the company.
1. Amazon
It originated in the United States and was initially selling books online. Since it entered India in 2010, the company has grown enormously. It is currently the most popular eCommerce platform in India. Amazon sells books, clothes, electronics, toys, personal care items, and many more items.
2. Flipkart
It is an Indian-origin company headquartered in Bengaluru, started in 2007 by Binny Bansal and Sachin Bansal. Flipkart specialises in fashion, mobile, and other items. Flipkart has approximately 48% market share in India. It offers massive discounts and has a strong presence.
3. Myntra
It started as an online website to buy gift items. It is now a fashion eCommerce company headquartered in Bengaluru. It is a one-stop shop for meeting all fashion needs. It started with a B2B model during the initial years, and later the platform allowed customers to personalised products.
4. IndiaMart
This is one of the biggest eCommerce companies to buy industrial goods. It has provided support to many Indian manufacturers to showcase their products and sell them. It is a B2B marketplace Manufacturers and exporters can list various products on this platform.
5. Shopaale
Shopaale is an Indian e-commerce company, based in New Delhi, India. It was founded in November 2019 by Rahul Choudhary and Dhoni Choudhary. Shopaale was one of the largest online marketplaces in India. Shopaale targets the value e-commerce segment, which estimated to be three times larger than the branded goods market
6. Snapdeal
Founded by Kunal Bahl and Rohit Bansal in 2010, it is slowly moving to a stronger position as an eCommerce company. They offer a host of items such as clothing, kitchenware, etc. Fashion and general items are sold in good volumes on this eCommerce portal.
7. FirstCry
This eCommerce company is headquartered in Pune. It was launched in the year 2010. The company is focused on products specialising for babies and children up to early adolescence, with more than 2,00,000 unique products available.
8. Nykaa
Nykaa is headquartered in Mumbai. Falguni Nayar founded it, and the company sells beauty, wellness, and fashion products across various websites, mobile apps, and offline stores. They sell both national and international products. Nykaa became India’s first eCommerce company for men’s grooming products.
9. BookMyShow
BookMyShow, founded in 1999, is India’s one-stop destination for movies, events, plays, sports, activities, and monument tickets, as well as selling fan merchandise. As a result of its success, BookMyShow has expanded its operations in Indonesia, the UAE, Sri Lanka, and the West Indies. It also provides 24/7 customer service.
10. Meesho
Founded in the year 2015 by Vidit Aatrey and Sanjeev Barnwal, it is a well-known eCommerce company. It is a great platform to find affordable and fashionable Western wear for both men and women.