The past 5 years have made India a hot spot for online business. For people who are getting busy with their hectic lifestyle, online shopping websites have come as a breath of fresh wave. The cash on delivery option has warmed people up to trusting the internet.
With such a fresh ground to sow in, entrepreneurs are flooding all over the country to cash in on this fabulous opportunity. Here is a list of top ten Ecommerce stores in India that have made it to the big leagues in a span of not more than 5 years.
Every Indian living in metro cities has heard the name of Flipkart. They have viewed it, browsed it and ordered from it. Flipkart initially began as an online bookstore. In today’s age it is the go to place for the Indian youth to find books on topics ranging from fiction to sports to even high end scientific research.
Flipkart will not leave you disappointed. It now covers a range of products from every area of life. In a very short span of time Flipkart has become the answer for everything.
It was the brainchild of Binny and Sachin Bansal; both of whom began with an investment of 4 lakhs and currently own a company that stands to make an increased profit of $1 billion by the end of 2014. The story of Flipkart is a stuff of legends.
The candle of Flipkart lit when Binny and Sachin were working in Amazon and thought of investing in their own start-up. There growth and success has been an inspiration for many other start-ups that quickly lined up to enter the world of e-commerce.
Snapdeal began its journey in the year 2007 as an online coupon directory. With time it shifted its course and tried its hand at e-commerce. And the rest they say is history. Kunal Bahl and Rohit Bansal were both tired of the boring day to day existence that they lead as company employees. They shifted their focus towards creating something of their own.
Today, they believe that leaving their jobs was the best decision of their lives. They have a customer base of over 20 million Indians and do business with over 50,000 sellers who constantly post their products on their marketplace.
The story of Snapdeal is not a one day success story. In their four year experience, they have gambled with 6 different business models until they finally hit the jackpot that is currently set to generate annual revenue of $1 billion.
Snapdeal was a better business model unlike other Groupon clones in India because Snapdeal entered the internet with the backing of 50,000 merchants with whom they were already working before they created their website. Therefore, when Snapdeal came to India, it came with a level of variety that none of its competitors could wish to reach.
Snapdeal is right neck to neck with Flipkart in terms of e-commerce competition, it is hard to decide which store will reach the finish line first.
Jabong is currently India’s most sought for branded clothing and accessories store. Unlike Flipkart and Snapdeal, the business model of Jabong was slightly different. It aims at capturing the brand conscious internet savvy population of India and has successfully done so.
Jabong is currently the premium destination for Indians to look for branded wear. It began pretty late in the year 2012, when its competitors had already set up a strong foothold in the arena. They were different from other e-commerce stores because of their streamlined delivery process.
Although, Jabong is half the age of its competitors, it is estimated to yield a profit of over $700 million.
While, Flipkart was the first in the e-commerce market to create a clutter free interface that became an instant favorite, Jabong grabbed a hold of their attention with its unending catalog.
No matter what your age, Jabong has everything for everyone. Their aggressive marketing strategies made them hit a huge online client base, all of whom responded with equal enthusiasm. Jabong’s super fast delivery process has helped in making a space for this website on the e-commerce red carpet.
When it came to size, Myntra was a pretty small fish in a sea full of e-commerce sharks like Jabong and Flipkart. But, Myntra was a persistent fish nonetheless. Mukesh Bansal is the mastermind behind Myntra. He is an exceptionally smart and honest entrepreneur. From a personalized gifting store to one of the leading online fashion stores, Myntra is always beating heads with Jabong.
Its acquisition by Flipkart is a high remark for this ambitious website. Its innovative step up in selling sports merchandise and many other small moves separated Myntra from other low scale e-commerce stores that are still little fishes while Myntra has only grown bigger with time.
Mukesh Bansal’s long term vision and his eye for the right investors helped him scale Myntra and make it a nationally recognized brand in a span of three years. So much so, that Flipkart came out of its way to woo Myntra and acquire it for its own; a great story for Mukesh Bansal to tell his kids.
An inspiring tale of online entrepreneurship finally has a woman’s face to it. Her name is Ishita Swarup, a talented woman, who always had a dream to make a name for her in the e-commerce industry. She began on this journey with her two friends Anchal Jain and Arjun Prakash.
Their business plan for 99labels is very different. Their unique vision translated into their business model which partnered up international and national brands and opened up limited windows for products to stay online to be purchased.
The site works on a model of sales events. People instantly took to the concept and 99labels became an instant hit. 99labels is currently growing at an international scale. The membership numbers have reached over 10 lakhs, which is an unbelievable amount considering the short span of time.
The start-up story of Shopclues is pretty similar to other e-commerce start-ups, yet the one thing that separates Shopclues from its competitors is the fact that Shopclues believes in bringing to its customers the cheapest and most affordable deals.
Their current business model aims to make Shopclues the first as well as the most sought for wholesale website in India. Their new model has made Shopclues a wholesale website that aims to sell its products to its customers in bulk at wholesale prices.
As they have just introduced this plan in India, it will still take a little while to see the final results.
It was the brainchild of Sanjay Sethi and Radhika Aggarwal, and currently is one of the top marketplace ventures in Indian history.
Naaptol is one of India’s oldest e-commerce ventures. It began as a research and product comparison website in the year 2008, but once visitors started rolling in, the website shifted towards becoming an e-commerce portal that allowed users to compare products and decide which one is the best for their needs.
The website attracts over 90,000 customers with a daily transaction rate of over 5,000 products. They currently plan to go digital with a 24/7 shopping channel like HomeShop18. While HomeShop18 began as a digital service and moved on to the internet, Naaptol’s aim to go digital will be viewed by some skeptical eyes.
Only time can tell, where Naaptol is headed with its digital strategy, as of now it is among the top contenders in the e-commerce business in India.
Many may be shocked to see how Firstcry made this list. It is a website that has a niche marketing base of infants and new born mothers this is a website that has an answer to everything.
From cradles to infant clothes, they have just about everything. It is a one stop spot to get the complete parenting kit. Firstcry gained its popularity from Facebook. With over 10,000 likes it is surely a well loved websites that has regular sales and offers everything from high end to even affordable products.
Founded in the year 2010 by Maheshwari and Amitava Saha, Firstcry has over 70,000 products and is a marketplace for over 400+ national and international brands. When it comes to niche shopping stores, Firstcry has really made a name for itself.
This website is currently competing with the likes of other e-commerce websites like Babyoye. But it is only a matter of time before it beats its competition and makes itself the go to place for pregnancy and maternal care products.
Many may argue that with the current ups and downs that FashionAndYou is having, counting it as one of the top ten e-commerce ventures is not logical. But the fact that this company has stayed afloat and continues to find ways to increase revenue makes it a lone survivor worth recognizing.
FashionAndYou is not a start up that made it big, but it is a start up e-commerce with a unique vision that is shaping up with time. After the shocking exit of Pearl Uppal, Asheesh Mediratta has been the CEO of FashionAndYou from the year 2013.
Under his leadership FashionAndYou has risen from the ashes and come up with s slightly different business model. Instead of concentrating on making online shopping an easy venture, something that has become a prerequisite for every single e-commerce store in India, Asheesh aims to make FashionAndYou different from its competitors.
He aims to create a shopping store that promotes one of kind designs that customers will be hard pressed to find elsewhere. Their dream is ambitious but if they succeed in creating a unique and attractive inventory, FashionAndYou will finally break into the big leagues again.
When it comes to home furnishing, FabFurnish currently stands unchallenged. It is the top leader in online home furnishing business, simply because they dared to do what others didn’t think of.
Their website is a virtual marketplace that is innovatively designed to give the users the complete feel of the products before they invest in them.
Considering the fact that it took Indian consumers ages to warm up to the idea of online shopping, the success of FabFurnish makes for a remarkable story.
This ornate website is the product of Mehul Agrawal and Vaibhav Aggarwal’s inventive entrepreneurial skills. They understood the difficulties that Indians face when they go looking for home decorations. They gave them an easy out in the form of FabFurnish. Their current plan includes generating a revenue of 220 crore in revenue by the end of the year 2014.
The above list presented the ten most promising and successful e-commerce ventures. These websites have created a tough ground for further competitors. A ground on which only the best e-commerce business plans can survive.