E-commerce is buying and selling of goods online. There are four types of e-commerce market segments: business to business (B2B), business to consumer (B2C), consumer to consumer (C2C), and consumer to business (C2B). It has completely revolutionized the commerce industry, as few could only think that we can buy things on the devices like computers, tablets, or smartphones. Nearly everything from a to z, whatever you want is available on these e-commerce websites, from a toothpick to a car, as it has become quite a vast industry.
The E-commerce industry is growing at a very fast pace. Many e-commerce giants and unicorns have shown some remarkable growth in the past few years. And, especially after the COVID-19 pandemic when everyone was at home, it forced people to go online for shopping. India’s e-commerce industry has now grown 84%, in which the pandemic-induced lockdown played a major role. Some of the best e-commerce companies include Flipkart, Amazon, Myntra, etc. So, here is the list of some of the best e-commerce companies in India.
Top 5 E-commerce Companies
In India, Amazon launched its operations in 2013. In the beginning, Amazon.in, was offering customers a wide variety of books, movies, and T.V. shows. On its first day of operations, it received more than 10,000 orders. Amazon India is a fully owned subsidiary of US-based e-commerce giant Amazon, Inc. The parent company Amazon was founded by Jeff Bezos in 1994. Due to limited market reach in the US, Amazon started looking to go out in other nations to expand their business globally. China, with its well-developed infrastructure and internet reach, it seemed a lucrative market for the big giant to establish its business in Asia. But, they were not alone. Due to stiff competition by local e-commerce companies like Alibaba, Amazon started looking for other options. And, who could be better than India, which then led to its launch in 2013.
Flipkart, launched in 2007, is India’s leading e-commerce with over 80 million products across 80+ categories. After the digital revolution in India, which led to the e-commerce to boom, Flipkart started gaining pace and added several new products to their website. Flipkart was founded by Sachin Bansal and Binny Bansal, headquartered in Bengaluru, the company initially started as an online book store. Later, as its popularity grew it also started selling other items like music, movies, etc. Today, Flipkart has over 350 million registered users across its services – including fashion e-commerce Myntra – in the country. Flipkart is a great business whose growth and potential mirror that of India as a whole.
IndiaMART is the largest B2B e-commerce, connecting buyers with suppliers. With 60% market share of India’s online B2B classified space, it provides a platform to Small & Medium Enterprises (SMEs), Large Enterprises as well as individuals. Founded in 1999, by Dinesh Aggarwal and Brijesh Aggarwal, the company’s mission is ‘to make doing business easy. IndiaMART has 3,150 employees located across 84 offices in India, with more than 107 million buyers, 6.1 million suppliers, and 68 million products & services.
Mi Store India
Mi Stores are Xiaomi’s franchise stores for exclusive Mi smartphones and ecosystem products. It aims to serve as a local brand with the best of global standards. One can find a range of electronic gadgets like Mi & Redmi smartphones, Mi TVs and set-top boxes, Mi routers, etc. China’s Xiaomi was founded in 2010 by Lei Jun and now has expanded its presence in over 30 nations, with India being the top smartphone vendor market, selling over 3 million units to its potential Indian customers. Xiaomi India’s headquarter is in Bengaluru, as Manu Jain its President (and also the Vice President of Xiaomi).
Jio Mart is an Indian e-commerce company, headquartered in Mumbai, started as a joint venture between Reliance Retail and Jio Platforms. Here, customers are offered the convenience of shopping everything needed for home – be it fresh fruits & vegetables, rice, dals, oil, packaged food, dairy item, frozen, pet food, etc. from a single virtual store. Founded in 2019 as Mukesh Ambani its Chairman, currently, it gives employment to more than 10, 000 employees in the 200 cities of India. It can be called India’s most convenient online grocery channel.