Top E-commerce Companies in India 2024

E-commerce Companies in India - AryanJalan.com

With over 800 million users, India is the second-largest internet market in the world. And it is expected to reach 1 trillion by 2030.

This growth is because more people are getting online, which means more smartphone use, higher incomes for the middle class, and cheaper internet prices.

Did you know: More than 60% of orders and transactions come from Tier 2 cities and smaller villages.

Now, one can easily purchase items over the internet via e-commerce companies and shop from the comfort of their home. Data shows that 58.4% of internet users buy something every week, highlighting how common it is to use e-commerce for our daily needs.

Before checking out the top e-commerce companies in India, let’s first check out some interesting statistics about the e-commerce market in India that will blow your mind. 😲

  • India is the 7th largest market for e-commerce with a predicted revenue of US$87,515.1 million by 2023.
  • With a rapidly expanding economy and a population of over 1.4 billion, it is expected that by 2027, there will be 427 million internet buyers in India. 
  • Tier- I cities had the most year-over-year order volume rise of 31.1% during FY2023.
  • India recorded 125.94 Lakh Cr UPI transactions in 2022.
  • The e-commerce trend is gaining major popularity even in tier-2 and tier– 3 cities as they now make up nearly half of all shoppers and contribute three of every five orders for leading e-retail platforms
  • Tier-2 and smaller towns’ average selling prices (ASPs) are only slightly lower than those of tier-1/metropolitan cities.
  • The Government of India established the ONDC network in 2022 with the goal of giving MSMEs equal chances to prosper in digital commerce and expanding e-commerce.
  • According to estimates, one-third of Indian customers use smartphones for their online shopping.
  • By 2025, the government of India aims to establish a trillion-dollar digital economy.

While India has witnessed significant e-commerce growth in recent years, global trends also play an important role. Explore our latest global e-commerce statistics to understand the bigger picture.

Top E-Commerce Companies in India

These ecommerce companies in India offer a wide range of options. Some concentrate on specific product categories, making it easy to find specialized items, while others stand out as the most affordable choices for online shopping.

1. Flipkart

Flipkart is one of the most favorable ecommerce companies in India. It was started in 2007 by Binny Bansal and Sachin Bansal in Bangalore. Now you can find everything you need from fashion, electronics, home appliances, mobiles, and even groceries. 

Approx 48% of Indian consumers buy products from Flipkart only. And the “Big Billion Days” Sale is the most popular sale we’re all waiting for each year. As per Flipkart in 2023, more than 1.4 billion people visit Flipkart in the Big Billion Days where Flipkart offers heavy discounts on each and every product.

Apart from the products, now we can also book flight tickets, can do mobile recharges and much more.

2. Amazon India

Amazon India is the second most popular ecommerce company in India. It’s the subsidiary of Amazon.com which was founded by Jeff Bezos in 1994. And it came to the Indian market in 2010.

Approx more than 26% of Indian consumers buy products from Amazon. Similar to Flipkart, you can find all kinds of products from personal care, electronics, toys, clothes, books. But its grocery category is not as good as Flipkart.

Along with the ecommerce platform, their AmazonPay and Amazon Prime are also growing and favorites of India.

3. Myntra

Myntra is the top fashion and lifestyle ecommerce company in India. It was founded by Vineet Saxena, Ashutosh Lawania, and Mukesh Bansal in 2007.

Approx 22% of Indian consumers buy clothes and other fashion accessories from it. It offers a large selection of fashion items like clothing, footwear, accessories, jewelry, personal care products and more from Indian to Foreign brands for men, women and for kids.

Its 14-day return policy allows users to test and buy the latest fashion products with the affordable pricing with attractive discount options.

4. IndiaMART

IndiaMart is one of the most popular b2b ecommerce marketplace. It was founded by Dinesh Agarwal and Brijesh Agarwal in 1996. It’s the only ecommerce company in India that sells industrial goods with 60% of market share.

It’s the first stop to find the suppliers and distributors to buy electronics, building & construction material, industrial machinery, food & agriculture, healthcare goods and more.

If you’ve just started any new manufacturing plants or if you’re a wholesale dealer. Indiamart will help you to scale your business to the next level with its reach and authority they’ve built over time.

5. ShopClues

Shopclues is the leading online marketplace in India. It was founded by Sandeep Agarwal, Sanjay Sethi, and Radhika Aggarwal in 2011.

You can find a good range of home and kitchen appliances, electronic products, clothing and fashion products from various well-known national and international brands.

Their heavy discounts and deals attract the tier 2 and tier 3 cities in India. And it also helps local sellers from tier two and three cities to showcase their products to expand nationally.

6. Snapdeal

Snapdeal is India’s leading pure-play value ecommerce platform. It was founded by Kunal Bahl and Rohit Bansal in 2010.

They are becoming a market leader in the Tier 2, Tier 3, and Tier 4 cities of India by offering reasonably priced lifestyle products. Their top categories are fashion, home and kitchen appliances, kids toys and beauty.

7. FirstCry

FirstCry is a leading ecommerce platform for kids in India and is also known as Asia’s favorite baby and kids shopping platform. It was founded by Supam Maheshwari and Amitava Saha in 2010.

It offers more than two lakh different child-centric baby products, including clothing, toys, diapers, and more. It is home to some of the most popular kids brands on the market, including The Mom Store, Babyhug, and Hamley’s.

FirstCry has 400+ physical stores spread across India that help them to stay competitive in the market as a leading player in the childcare category.

8. Nykaa

Nykaa is another leading fashion and beauty ecommerce platform in India. It was started by Falguni Nayar in 2012 in Mumbai.

They hold more than 38% of market share in the online beauty space in India. You can find a wide range of makeup, skin har, mom and baby, health and wellness, fragrance, lingerie and accessories on their platform.

With 80,000 goods and over 700 carefully chosen brands, Nykaa has emerged as one of the top online shopping destinations for Indian customers.

9. BookMyShow

Bookmyshow is one of the leading event ticket platforms in India. It was founded by Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande in 1999.

It holds approx 90% of market share in the movie ticket booking industry. As per Livemint, BookMyShow set a high record of selling 29 million tickets in April 2022.

Now, they are not selling only movie tickets, you can also book events in your city, sports and various other activities from it like Amusement parks, tourist attractions, etc.

10. Meesho

Meesho is one of the learning social ecommerce companies in India since its launch because of lowest pricing with best quality approach. It was founded by Vidit Aatrey and Sanjeev Barnwal in 2015.

Approx 15% of digital users buy products from Meesho. It offers fashion, electronics, toys, home and kitchen appliances at very affordable costs for men, women and for kids.

Meesho 0% charges from the sellers & manufacturers. And their reselling business model like dropshipping attracted crores of buyers from India.

11. Olx India

Olx India is a popular ecommerce company that operates as a customer to customer platform. People can sell their used product to other peoples within their city. It can be a second phone to big items like cars, furniture, flats, rooms. Everything you can think of has a resale value.

They have more than 85% of market share in India. Sellers can list their products with a couple of images and connect with the potential buyers for free, chat with them and close it as per their convenience.

Conclusion

India became a big name in the online world, thanks to its growing number of shoppers and strong internet business. Companies like Meesho and Snapdeal, as well as big names like Amazon, Flipkart and Indiamart, are making a big impact on India’s online shopping market.

Even though it’s still growing, ecommerce in India is already giving people lots of choices for shopping, fast delivery, and easy ways to pay. All of this is helping to build a bright future for online shopping in India.

Frequently Asked Questions

1. Who is the biggest e-commerce company in India?

Flipkart is the biggest e-commerce company in India with all its subsidiaries, i.e, Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip

2. Which is better, Amazon or Flipkart?

There are some niches in which Amazon has the upper hand, but Flipkart’s supercoin program and deep reach into the Indian heartland give it an edge, too.

3. What happened to Snapdeal?

Snapdeal after failing to merge with Flipkart, launched “Snapdeal 2.0”, with a focus on offering affordable lifestyle products, like clothing, kitchenware, home decor, and much more in Tier 2, Tier 3, and Tier 4 cities to budget conscious consumers.