In India, e-commerce has changed the way people do business. From US$38.5 billion in 2017, the Indian e-commerce sector is predicted to expand to US$200 billion by 2026.
As of May 2020, India had 696.77 million Internet users, accounting for around 40% of the population.
This surge in internet and smartphone usage has sparked most of the industry’s growth.
The ‘Digital India’ program is expected to expand the number of internet connections in India to 776.45 million by September 2020. 61 percent of all internet connections were made in metropolitan areas, with 97 percent of those connections being wireless.
These figures will provide you with the motivation you need to start your own eCommerce business in India. Keep on, and who knows what can happen? Perhaps you could construct the next ‘Alibaba.’
So, are you all set? Here are the best eCommerce businesses in India.
Table of contents
- What is eCommerce Business all about?
- What are the Types of eCommerce Businesses?
- Why Start an eCommerce Business in India?
- Is eCommerce Profitable in India?
- How Much Does it Cost to start an eCommerce Business in India?
- Which eCommerce is Best in India? 30 Best eCommerce Businesses in India for 2023
- 1. Flipkart
- 2. Amazon
- 3. IndiaMart
- 4. Alibaba
- 5. OLA
- 6. Snapdeal
- 7. Myntra
- 8. PayTM
- 9. Shopclues
- 10. Nykaa
- 11. Yepme
- 12. Infibeam
- 13. 2GUD
- 14. BookMyShow
- 15. Firstcry
- 16. Naaptol
- 17. 1mg
- 18. EaseMyTrip
- 19. Cleartrip
- 20. Justdial
- 21. PharmEasy
- 22. 99acres.com
- 23. HealthKart
- 24. Moglix
- 25. Yatra
- 26. TravelYaari
- 27. MakeMyTrip
- 28. Clovia
- 29. CaratLane
- 30. Netmeds.com
- Frequently Asked Questions
- Conclusion
- References
- Recommendation
What is eCommerce Business all about?
eCommerce, often known as electronic commerce or online commerce, is the purchasing and selling of goods and services through the internet, as well as the financial and data transfers required to complete these transactions.
eCommerce is frequently used to refer to the online sale of real goods, but it can also refer to any type of economic transaction that is made possible by the internet.
Online shopping, which is defined as the buying and selling of items over the internet on any device, is the most well-known example of eCommerce.
eCommerce, on the other hand, can encompass a wide range of activities, including online auctions, payment gateways, online ticketing, and internet banking.
Whether you want to establish an e-commerce business or you already have one and want to learn more about the industry in order to improve your business model, this article will help you.
It provides you with all of the necessary e-commerce fundamentals as well as different e-commerce business ideas in India.
What are the Types of eCommerce Businesses?
There are four basic eCommerce models that can be used to explain practically any transaction between customers and businesses. They include B2B, B2C, C2C, and C2B.
These business models are, in general, as follows:
1. Business to Business (B2B)
Business-to-business (B2B) is a business model that focuses on selling products from one company to another.
Many industries are based on this model: software companies develop programs for other businesses, while logistics companies assist businesses in shipping their products.
When consumers buy in quantity, most B2B companies provide a discount per unit, which is a wonderful incentive for offices to take advantage of.
2. Business to Consumer (B2C)
B2C sales refer to the conventional retail paradigm in which companies sell products or services directly to consumers.
The most well-known business model is when merchants sell to customers who purchase a limited quantity of goods.
Supermarkets are a well-known example of the B2C model, where customers buy their groceries on a weekly basis rather than in bulk.
This is a type of eCommerce business in India
Read: AliExpress Reviews 2023: Is It Legit Or An Online Shopping
3. Consumer to Consumer (C2C)
Consumer to Consumer (C2C) exchanges are based on people using a marketplace to trade, buy, and sell things in exchange for a small commission paid to the site.
For example, you’re relocating to a new city with furnishings and other electronic equipment that you can’t transport. You put those products up for sale on the marketplace and found purchasers willing to pay the price you set.
This can be simple and profitable when using markets like eBay and Craigslist to sell stuff you no longer need.
4. Consumer to Business (C2B):
Consumer to Business (C2B) is a business model in which any professional or skilled individual monetizes their expertise in order to deliver their abilities as a service to various businesses.
One of the most common examples of the consumer-to-company paradigm is freelancing.
On marketplaces like Fiverr, freelancer, and UpWork, professionals with a wide skill set in a variety of domains and industries auction their services.
Why Start an eCommerce Business in India?
India boasts one of the best startup ecosystems in the world, with a steady stream of innovative firms and new products flooding the market.
And the list of unicorn businesses continues to increase as new companies join the ranks.
When two Harvard Business School graduates, Avnish Bajaj, and Suvir Sujan, decided to explore the e-commerce market area in India, India’s e-commerce odyssey began.
They took advantage of the opportunity and launched Baazee.com, an online auction site modeled after eBay. Later, in a $55 million deal, eBay purchased the company.
When all thought that this was all, in 2007, two IIT Delhi grads and former Amazon workers, Sachin Bansal and Binny Bansal started Flipkart as an online bookshop. It rapidly expanded into other online categories and became India’s largest e-commerce marketplace.
Walmart paid $16 billion for Flipkart in 2018, making it the world’s largest e-commerce acquisition.
With all this, we can say, in India’s start-up ecosystem, there is a lot going on, with a growing number of firms drawing top worldwide investors.
Likewise, a few of them are experiencing financial difficulties and are finding it difficult to stay afloat in this competitive business.
The e-commerce business is gaining fresh hope as demand grows, as well as the affordability and accessibility of online buying.
Is eCommerce Profitable in India?
Despite the fact that eCommerce in India is booming, neither Flipkart nor Amazon are profitable.
Amazon Seller Services decreased its deficit to INR 5,685 Cr for the financial year that ended March 31, 2019, according to papers accessed by the business intelligence portal Tofler.
The current loss is down 9.5 percent from the previous financial year when Amazon lost INR 6,287.9 Cr. The eCommerce behemoth’s losses in India for FY 18-19 totaled over INR 7000 Cr.
Amazon India’s B2B subsidiary, Amazon Wholesale India, has also suffered a setback, not just in terms of losses but also in terms of revenue.
While sales decreased by 8% from the previous fiscal year to INR 11,250 Cr, the loss increased to INR 141 Cr in FY18-19.
This just shows that, despite being one of the world’s most well-known companies and employing some of the world’s finest and most costly engineers and professionals, Amazon has failed to profit from the Indian market.
However, the Indian online grocery market is expected to grow at a CAGR of 57% from $1.9 billion in 2019 to US$ 18.2 billion in 2024.
Also, in the fourth quarter of 2020, India’s e-commerce orders volume climbed by 36%, with the personal care, beauty, and wellness (PCB&W) market benefiting the most.
The Indian E-commerce market is predicted to rise to US$200 billion by 2026, from US$38.5 billion in 2017, thanks to rising smartphone penetration, the rollout of 4G networks, and increased consumer wealth.
Flipkart, Amazon India, and Paytm Mall are predicted to lead online retail sales in India, which are predicted to increase by 31% to US$ 32.70 billion in 2018.
That’s a high prospect that e-commerce will definitely be profitable in India in years to come.
How Much Does it Cost to start an eCommerce Business in India?
Let’s say you’re a stay-at-home dad who wants to market your own cool clothing ideas online or a crafty mom who can make some fantastic handicrafts at home.
Now you want to open an online store so you can “get in on this eCommerce thing,” “earn some additional money on the side,” or “earn some extra revenue while you sleep.”
Here’s everything you’ll need to get started.
I decided to spend some time laying down the costs of launching a small eCommerce business in India.
| Product | Cost to Startup |
| Company Incorporation(MOA, AOA, PAN Card, Company legal entity, Bank Account) | Rs. 50,000 (Bangalore) |
| Payment Gateway (To accept credit card, net banking or debit card online) | Rs. 25,000 (initiation fee)2 – 4% transaction fee (negotiable) Rs. 500 – Rs. 1500 monthly fee (can get this waived) |
| eCommerce Software | Rs.1000 to Rs. 10,000 per month starting |
| eCommerce team (Optional if you use off-the-shelf hosted software) | Rs. 1.5 to Rs. 2.5 Lakhs per month |
| Computer, machines, and servers for developers (if you are building a team) | Rs. 50,000 + Rs 10,000 per month for hosting (basic plan) |
| Office Space (if you have a team that wants to work in an office) | Rs. 5000 per month |
| Shipping | Rs. 20,000 (setup account, negotiable to zero) + Rs. 25 to Rs. 45 per shipment (up to 500 grams in weight) |
| Initial Marketing | Typically zero, but budget Rs. 20,000 |
| Computer (Desktop or Laptop) + Internet + Phone | Rs. 30,000 + Rs. 2000 per month (for a good internet connection) |
| Total starting costs | Minimum: Rs. 1 Lakh plus Rs. 25,000 per month (using hosted shopping cart software) Maximum: Rs. 4-5 Lakhs plus Rs. 2 Lakhs per month (building a team and hosting yourself) |
Which eCommerce is Best in India? 30 Best eCommerce Businesses in India for 2023
The Indian economy has benefited significantly from eCommerce.
In 2018, E-commerce companies in India got a total of more than $7 billion in equity capital.
In India, there are over 19,000 e-commerce enterprises, while in the United States, there are over 28,000 e-commerce enterprises.
Let’s have a look at the best 30 e-commerce companies in India, together with their contact information.
1. Flipkart
Flipkart is a website that sells products online. It is an Indian online retailer with headquarters in Bengaluru, Karnataka.
Flipkart employs 21933 people and generates $2,896 million in revenue. It was established in 2007.
Basically, Flipkart is a company that specializes in online buying and it’s a privately held corporation. After a 16 billion dollar transaction in 2018, Walmart Inc now owns Flipkart.
2. Amazon
Amazon is an American online retailer with headquarters in Seattle, Washington. It was established in 1994.
It has become the undisputed world leader in e-commerce, having grown into many nations, including India, and has grown further into brick-and-mortar retail with the acquisition of Whole Foods Market, as well as publishing, electronics, cloud computing, video streaming, and manufacturing.
Currently, Amazon employs 334555 people and generates $3,393 million in revenue.
Basically, Amazon is a company that specializes in online shopping and online food purchasing and it’s a publicly-traded corporation.
3. IndiaMart
IndiaMart is an online B2B platform for Indian businesses that was founded in 1999.
As a competitor to Alibaba, it allows manufacturers, suppliers, and exporters to directly present their items on the website and be contacted by visitors.
Tolexo, IndiaMart’s e-commerce retail platform, has been live since 2014.
4. Alibaba
Alibaba, founded in China in 1999, is a globally recognized important player in the e-commerce business.
This e-commerce company is a force in the world e-commerce industry, owned by Alibaba Group Holding, a giant global conglomerate holding corporation that specializes in everything online from e-commerce to online retail, Internet, and technology.
5. OLA
Ola Cabs is an Indian online taxi service with headquarters in Bengaluru, Karnataka. It was established in 2011.
Currently, Ola Cabs has 8288 people and generates $110 million in revenue. Ola offers city taxis, inter-city cabs, and local cabs at hourly packages
6. Snapdeal
Snapdeal is an Indian online marketplace, offering products ranging from electronics and fashion to home and appliances with headquarters in Gurugram, Haryana. It was established in 2010.
Currently, Snapdeal employs 4553 people and generates $132 million in revenue.
Snapdeal is a company that specializes in online buying as well as a privately held corporation. Rohit Bansal and Kunal Bahl started Snapdeal.
7. Myntra
Myntra Jabong is an Indian online retailer with headquarters in Bengaluru, Karnataka. It was established in 2007.
Basically, Myntra Jabong is a website that specializes in online shopping. Myntra Jabong is a privately held corporation.
Currently, Myntra Jabong employs 4978 people and generates $62 million in revenue.
8. PayTM
Paytm is an Indian online e-commerce platform with headquarters in Noida, Uttar Pradesh. It was established in 2010.
Currently, Paytm employs 9318 people and generates $118 million in revenue.
9. Shopclues
ShopClues, which operates as a marketplace, has a burgeoning community of certified merchants in India.
Unlike other online shopping platforms, ShopClues has amassed a merchant base of over 3.5 lakhs.
ShopClues is making history by empowering local and regional merchants, particularly from Tier 2 and Tier 3 cities, and turning them into national enterprises.
10. Nykaa
Nykaa is an Indian beauty retailer that sells cosmetics, clothing, and wellness products.
It was founded in 2012 as a specialist beauty e-commerce shop that sold products from a variety of brands.
Nykaa has since created its own cosmetics brand and built many brick-and-mortar locations across India.
11. Yepme
Here at Yepme, you may quench your fashion thirst by plunging into the one-stop solution for online shopping in India.
With a desire to serve the fashionable, Yepme has created its own fashion brand, with unlimited categories for men and women, as well as a vast range of clothing in line with the newest trends and styles.
12. Infibeam
Infibeam.com is a worldwide financial technology company based in India that provides integrated and scalable digital platforms such as CCAvenue’s digital payment system and BuildaBazaar’s enterprise software solutions.
They are the only publicly traded, bootstrapped, profitable Fintech conglomerate with a broad Fintech portfolio.
Read All You Need To Know About Amazon Storefront In 2023
13. 2GUD
2GUD began as an e-commerce store specializing in refurbished items, selling a variety of pre-owned phones and electronics that have been returned to their former state.
This eCommerce business in India was launched in 2018 by Flipkart, which was later acquired by Walmart, an American retail behemoth.
It now competes in a variety of categories, including lifestyle, fashion, and home décor.
14. BookMyShow
BookMyShow is India’s most popular show ticketing website and retailer.
Since its inception in 2007, BookMyShow has grown to sell millions of tickets for movies, sporting events, plays, and other events each month.
BookMyShow has opened subsidiaries in Indonesia, the United Arab Emirates, Sri Lanka, and the West Indies as a result of its popularity.
15. Firstcry
Firstcry is a pioneer of e-commerce in India, selling products from thousands of companies.
It is a specialist e-commerce platform for infant care goods, children’s clothing, and toys.
Firstcry’s products are currently available in tens of locations across India, thanks to its expansion into franchised outlets.
16. Naaptol
Naaptol is India’s largest eCommerce shopping business and the country’s most popular home shopping channel. They sell in a unique way.
Naaptol has developed since its inception in January 2008.
The company sells consumer electronics, clothing, books, games, and sporting goods, as well as allows consumers to study and compare products based on quality, pricing, user reviews, and other factors.
17. 1mg
1mg is a healthcare information and online pharmacy.
Since its inception in 2015, 1mg offers online consultations, lab tests, and a wealth of medical knowledge in order to better serve the Indian market and population, as well as route visitors to the appropriate drug or product from its store.
18. EaseMyTrip
Easemytrip.com is a travel and tourism e-commerce company headquartered in Delhi, India.
This e-commerce company is a travel firm that specializes in flight bookings, hotel bookings, and online hotel bookings.
Since its inception in 2008, it’s been seen as one of the top and best eCommerce businesses existing in India.
Currently, Easemytrip employs 360 people and generates $349 million in revenue.
19. Cleartrip
Cleartrip, which was founded in July 2006, pioneered a refreshingly straightforward approach to travel by providing its consumers with the most comprehensive travel experience possible through its award-winning Mobile and Desktop products.
It is the first large-scale global travel tech firm to allow travelers to discover and participate in hyperlocal leisure activities.
Cleartrip is a major player in the eCommerce business in India and the Middle East, ranking first.
20. Justdial
V.S.S Mani started Justdial Ltd in the year 1996. Mumbai, Maharashtra, is the company’s headquarters.
It is one of India’s top e-commerce businesses/enterprises.
It provides a variety of search-plus services, such as ordering food online, scheduling a doctor’s appointment online, purchasing movie tickets online, booking a cab/flight/bus online, ordering groceries online, scheduling a laundry pick-up online, and scheduling a courier pick-up online, to name a few.
21. PharmEasy
PharmEasy is a leading online pharmacy and medical care platform in India.
It allows you to order pharmaceutical and healthcare products online and have them delivered to your home by connecting you with registered retail pharmacies.
This is one of the best eCommerce medical stores that makes buying medicine fast, convenient, and economical in India.
22. 99acres.com
99acres.com, India’s No. 1 property platform, was launched in 2005 and caters to all aspects of real estate consumers’ demands.
It’s an online marketplace where buyers, sellers, and brokers/agents can quickly, effectively, and affordably share information about real estate properties.
You can use 99acres.com to promote a property, search for a property, browse properties, create your own property microsite, and stay up to date on the newest real estate news and trends.
23. HealthKart
HealthKart.com is India’s largest online men’s and women’s health and fitness store.
You can shop online for the most up-to-date collections of health, fitness, and related products from the most reputable companies.
It is one of the best eCommerce businesses in India and has headquarters in Gurugram, Haryana, India.
24. Moglix
Moglix is an E-commerce company established in Asia that specializes in B2B industrial supply procurement, including MRO, Safety, Electricals, Lighting, Cleaning & Housekeeping, Office stationery & Supplies, Power Tools, and many more industry necessities.
Their vision documents the creation of an exclusive digital-trade environment, tailored to meet the different demands of buyers and sellers, with the goal of bridging the gap between B2B merchants and consumers.
Also read Mercari vs Poshmark: which is the best e-commerce platform.
25. Yatra
Yatra.com is the largest online travel agency in India. Gurgaon is the company’s headquarters.
Dhruv Shringi (CEO), Manish Amin (CIO), and Sabina Chopra (COO – of Corporate Hotels) launched the company in 2006.
It also functions as a trip search engine. Yatra is also launching a holiday shopping card to make travel easier. It is another best eCommerce businesses in India.
26. TravelYaari
Travelyaari (mantis Technologies Pvt. Ltd.) is an Indian Internet company based in Bengaluru, Karnataka.
Since its inception in 2007, Travelyaari specializes in online bus tickets.
Currently, Travelyaari employs 283 people and generates $8 million in revenue.
27. MakeMyTrip
MakeMyTrip, an Indian travel company, is well-known for its robust web presence.
The organization offers a full range of travel services, including flights, vacation packages, tickets, and hotel reservations.
It also offers vacation packages to all tourist destinations. It has made its travel apps available.
Deep Kalra created India’s largest e-commerce enterprise in 2000. Through offices in Sydney and New York City, the firm has also presented abroad.
28. Clovia
Clovia is the go-to brand for lingerie, sleepwear, loungewear, activewear, and shapewear among India’s urban millennial women.
While India has spent decades trying to fit into worldwide body types, Clovia set out to understand India and its fits in order to provide solution-based luxury lingerie for Indian women who have been trapped with vanilla and one-size-fits-all underwear options.
29. CaratLane
CaratLane.com was founded in 2008 with the goal of democratizing jewelry. And now, after ten illustrious years, it is regarded as one of India’s top 20 e-commerce platforms.
CaratLane has steadily grown from strength to strength since its beginnings, and it now has 100 outlets spread over India.
30. Netmeds.com
Netmeds.com is a well-known online pharmacy in India. Prescription and over-the-counter medications can be ordered online.
In June 2015, this Indian online pharmaceutical company with a headquarters in Chennai and a focus on the healthcare business was formed.
It is one of the best eCommerce businesses/ companies in India
Frequently Asked Questions
Business-to-Business (B2B), Business-to-Consumer (B2C), and Mobile Commerce are the three categories of eCommerce (M-Commerce).
According to new research, global retail eCommerce sales will hit a record high by 2021. From $1.3 trillion in 2014 to $4.9 trillion in 2021, eCommerce enterprises should expect a 265 percent increase.
Amazon is the world’s largest eCommerce firm.
In India, starting an eCommerce business requires a minimum investment of 5 to 10 lacs.
Conclusion
Although India’s internet and e-commerce environment has hundreds of millions of users, it is still in its infancy.
There is a lot of space for growth in the Indian market because it is still emerging technologically. However, competition is already severe, with numerous local and international businesses vying for a piece of this fast-growing industry.
Here are the current best business leaders of e-commerce platforms in India in 2023 to offer you a better understanding of the state of market competition in the Indian e-commerce ecosystem.
Explore!
References
- gloify.com – How to start an E-commerce Business Step by Step guide for 2021
- ibef.org – E-commerce Industry in India
- inc42.com – Amid Intense Scrutiny And Competition, Is Amazon India Making Any Profit?
- Nextbigwhat.com – How much does it cost to start up a basic eCommerce company in India?
- Disfold.com – Top 10 e-commerce sites in India 2021
- Easyleadz.com – Top 70 E-commerce companies in India
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