The Indian eCommerce industry is making strides towards becoming digitally empowered at full speed. It is a great initiative to boost e-governance and widespread use of the internet on smartphones. It has also increased the growth of digital payments. It is expediting the growth of the Indian economy, and by the year 2025, it is predicted to grow immensely. Ultimately it has given excellent opportunities to the sellers and brands to mark their presence on online marketplaces and earn decent revenue.
Size of the Indian eCommerce Market
- India became the eighth largest eCommerce market in the world in 2020 during the pandemic hit.
- The turnover was 50 billion dollars.
- India has also become the hub of the online grocery market as well.
- This market is also expected to grow from 1.8 billion in 2019 to 17.3 billion in 2024.
- The festival season in India helps in boosting the overall eCommerce sales by up to 45% every year.
- After China and America, India has the third-largest online customer base, with approximately 145 million customers.
The Upswing of eCommerce Industry in India
It is predicted that the Indian eCommerce market can overtake the United States by 2034 and become the world’s second-largest eCommerce market. Covid-19 has worked as a fuel for the Indian eCommerce industry, and consumers shift to online marketplaces instead of physical stores to keep them safe. The eCommerce industry has taken advantage of this and offers excellent deals to delight customers and connect with them. The eCommerce business has also grown to the next level, along with the cheap internet plans. Most of the customers have a smartphone with an internet connection. So it has become easier for them to place an order online while in their comfort zone. Consumers who are shopping online are between the age group of 25 to 40. Based on the data intelligence company’s survey, the beauty eCommerce industry has increased by 65% over the last year, while fashion eCommerce has increased by 369%. During the sale season, shopaholic customers make the purchase of at least two apparel items a day.
Some of the Prominent eCommerce Platforms in India
The eCommerce industry has completely changed the way of doing business. In the current scenario, there are more than twenty thousand eCommerce businesses in India. Here, we have mentioned some of the prominent eCommerce marketplaces in India that have marked their presence effectively and are earning well.
Whenever customers think of online shopping, they think of Amazon. This eCommerce platform started in the year 2013. According to a survey, more than 78% of customers use Amazon to buy any specific product. Since its inception, this online eCommerce platform has evolved to be India’s most significant online venture. Amazon is the biggest competitor for other eComm joints.
Flipkart is also an exciting eCommerce venture. It is also considered India’s most successful online marketplace. Initially, it was established as a bookshop, but later on, it expanded its wings, and now it has a wide range of product categories to sell. It has more than 242.65 million monthly customers. If you want to sell online, you can choose this venture and start your business today.
Myntra is the most significant online eCommerce fashion venture in India. It has become one of the favorite online shopping spots for every age group in India. This unique platform has more than 45 million customer visits on a daily basis. You can choose this platform if you want to sell fashion apparel and make a profit.
Ajio is again an eCommerce platform, especially for fashion lovers. It was established in 2016 by Reliance. Ajio has a wide range of branded products that customers can purchase at a discounted price. In the year 2021, the net sale of this platform was approximately 2129.5 million dollars. You can sell on this platform if you are interested in selling branded products online.
Nykaa is famous among beauty lovers; women are the target audience of this platform. However, it has started to target men as well. This beauty and cosmetic eCommerce joint was established in the year 2012 and had been attaining immense popularity since then. Research in February of 2022 shows more than ten million customers have visited this platform. You can find almost every beauty brand on this platform. It has also started its’ online fashion store named Nayka fashion.
If we talk about the online grocery store, BigBasket is the first name that comes to mind. It is famous among the customers of metro cities for providing them with groceries, vegetables, and fruits at a reasonable price. It is the most trusted and popular eCommerce grocery store in India. With a vast selection of high-quality essential products, Bigbasket is also expanding its business to small cities.
Blinkit was formerly known as Grofers; it is an instant service provided to customers of metro cities. It delivers groceries, fruits, and vegetables within 15 mins. Grofers was established in December 2013, and its headquarter is in Gurgaon. Nowadays, more than ten million Indians are using Blinkit to shop for their everyday essentials. In the current scenario, it is delivering more than one lakh orders on a daily basis.
Thus several eCommerce marketplaces sell almost everything to customers’ requirements. If you are willing to sell products, you can also choose these marketplaces and sell products as per choice. The eCommerce industry is massive and requires a few things to take care of, such as product listing, inventory, shipping, and delivery. To list your products appropriately, you can take advantage of listing quality analytics software such as etraKY BS. It can help you with accurate listing and provide you the information regarding your stocks as well.
The eCommerce industry existed in India before the pandemic, but the boost it got during that time will not stop now. Customers have become more dependent on eCommerce marketplaces these days. There is almost everything that customers can buy from an online store. So it is an outstanding opportunity for sellers and brands to choose products from various product categories and sell them on prominent platforms. The graph of the Indian eCommerce market is increasing daily, and you can also get on board and earn your bread and butter more respectfully.
Today, everyone can start their online business by investing a small amount of money. You can sell clothes, groceries, beauty products, electrical appliances, furniture, home decor items, baby essentials, and much more. Take your first step today and become a part of this glorious industry. Adding a brand analytical tool to your journey can boost your business and let you survive in this competitive market.