The people of India are seeing a significant change in their buying patterns as a result of increasing internet usage and disposable incomes. Smartphones are being used by people from all walks of life to make purchases of goods.
The main drivers of this trend were and still are the widespread use of the internet and the accessibility of data, which are fueled by low costs.
Why E-commerce Is Booming?
Technology has boomed Indian businesses exponentially. In 2021, according to NASSCOM, the Indian e-commerce marketplace was able to generate a humongous revenue of 5.6 trillion dollars and a growth of 5% from the prior year.
For the generation of this revenue, multiple e-commerce marketplaces are responsible for sharing a huge chunk of share in the e-commerce industry.
Top 5 Ecommerce Businesses in India
Companies first struggled to get customers to purchase online, but as technology, logistics, and payment options advanced, along with a variety of promotions and deals, customers began to gravitate toward this practical manner of online purchasing.
Here is the list of the Top 5 eCommerce businesses in India:
- Amazon
- Flipkart
- Myntra
- IndiaMART
- ShopClues
Amazon India
In the early 2000s, the company that Jeff Bezos launched on July 5th, 1994 in Bellevue, Washington, had a surge in its global success. A global marketplace called Amazon had net sales of $468.82 billion in 2021.
In 2013, Amazon established its business in India as Amazon. in, and by 2021 it had generated over 207 million dollars in revenue. Undoubtedly, Amazon may be regarded as the founder of Indian e-commerce companies.
Popular Amazon Features:
Amazon swept the market by expanding into different aspects and starting platforms such as Amazon Web Service and Amazon Prime, which are growing their influence in industries like cloud computing, supply chains, entertainment, and robotics. Amazon is the complete package when it comes to business.
The vastness of Amazon’s marketplace is known by all. Amazon in itself is a self-sufficient eCommerce marketplace where thousands of subcategories are listed under hundreds of product categories, one can find almost anything on amazon.
But what stands out and makes it one of the most popular platforms is its fast and efficient delivery.
Flipkart
Flipkart is the next company in line, and they deserve it. Flipkart, which was established by Sachin and Binny Bansal in the year 2007, generated 5.3 billion US dollars in net revenue in 2021, making it the largest revenue-generating e-commerce company in India.
More than 80 categories and 80+ million products are available in Flipkart’s catalog.
Flipkart is an example of a local e-commerce platform because it allows small enterprises to promote their goods on the site and helps them connect with millions of customers around the nation. Unlike other e-commerce companies, it owns a number of well-known businesses, including Phonepe, Walmart India, Myntra, eBay India, and others.
Myntra
Myntra first began as a store where customers could purchase customized gifts. It then introduced 350 international and domestic companies to its marketplace in 2012, and the number has risen steadily since then. It was purchased by Flipkart in 2014.
Myntra introduced an express delivery service on its app in May 2022 to provide a unique experience through a fashion and beauty platform and it is a well-known online retailer of clothing and leisure items for men, women, and children in India today.
Myntra understands its consumers’ needs and provides them with a wide range of clothing, accessories, cosmetics, and footwear from over 500 top Indian and international brands.
IndiaMart
With a 60% market share in the online B2B classifieds sector, IndiaMART is the largest B2B marketplace in India. Small and medium-sized businesses, large businesses, and individuals use IndiaMART, where 5.5 million suppliers offer 60.7 million products from 138,000 different categories to over 82.7 million buyers.
The goal of IndiaMART, which was established in 1999, is “to make conducting business easier.”
What are some of the services provided?
- A lead management system
- Priority listings
- Premium number services
- An online storefront
- Inquiry help
- Payment facilitation
Shopclues
One of the top eCommerce businesses in India, Shopclues offers amazing discounts and deals on a variety of goods. Shopclues is a one-stop shop for everything from clothing to gadgets and household appliances.
By boosting local small businesses and turning them into national corporations, especially from small cities it has certainly left its mark.
The Gurgaon, India-based business states that it serves over 32,000 pin codes nationwide and has over 600,000 merchants and 28 million products on its platform.
Bottomline
These are the best eCommerce companies in India as opposed to the thousands of options accessible. They all have a good consumer base, some experience in the industry, and a track record of providing high-quality products and services.
E-commerce has been long since paving the way for how online business is conducted, and the road ahead is only better.
