Electronic commerce, also known as internet commerce, is referred to as e-commerce. This term refers to the buying and selling of goods or services over the internet, as well as the transfer of funds to these businesses via various online portals to complete the transaction process. It includes both the sale of physical products online and any transaction made online with a predetermined purpose.
People are famously taking advantage of e-commerce because of the convenience it brings to their hectic and stressful lifestyles. People can buy anything from these platforms at any time, with the option of selecting from a large number of options available on the internet.
As businesses expand and establish themselves online, as well as some old and traditional ones, it is becoming a large virtual space to shop for various items.
The following are the benefits of e-commerce:
- You can shop from the comfort of your own home or workplace and have the product delivered to you without the need for any physical presence or effort.
- You save time and money that would otherwise be spent on commuting to the market.
- Because there are online businesses that focus on eliminating any business intermediaries, they can offer customers more discounted rates as well as claimable guaranteed offers as a reward for their loyalty.
The Best Ecommerce Startups
Flipkart
Flipkart is an Indian e-commerce company founded in October 2007 by two IIT Delhi alumni, Sachin Bansal and Binny Bansal, who previously worked at Amazon before launching their venture. This Bangalore-based company began as an online book sales company before expanding its domain.
It currently operates in several distinct categories, including consumer electronics, fashion, home essentials, groceries, and lifestyle products.
Flipkart sells a variety of products and holds an annual event called ‘Big Billion Days’ to promote sales through massive discounts.
Also in 2016, the company launched its home brand, ‘Flipkart Smartbuy,’ in which they collaborated with various manufacturers to provide quality-assured products such as electronic chargers, data cables, power banks, home decors, tiffin boxes, jars, and so on.
Walmart officially announced in 2018 that it had acquired a 77% controlling stake in Flipkart for $16 billion.
Nykaa
Nykaa is derived from the Sanskrit word nayaka, which means “one in the spotlight.” Currently, is a popular name in the e-commerce and retail domains. It works with over 400 brands to offer a diverse range of cosmetics, skincare, haircare, fragrances, bath and body, luxury, and wellness products for both men and women. Falguni Naiyyar founded it in 2012.
Nykaa primarily operates through its online website and application, with warehouses in Mumbai, Delhi, and Bangalore, and through its offline stores, which are divided into two categories: Nykaa on Trend and Nykaa Luxe, and feature both Indian and international beauty products.
Nykaa found a niche within three years of its launch in 2015 to launch its in-house brand under the name Nykaa (private label) to provide customers with a range of beauty and bath care products. Nykaa’s private label currently manufactures over 50 products such as sheet masks, nail enamels, soaps, and so on
Zivame
Lingerie shopping is a taboo in India, and many women are uncomfortable being able to open and shop for these necessities. Richa Karr, an MBA student, developed the online lingerie shopping platform Zivame in 2011 with this concept in mind. The name Zivame is derived from the Hebrew word for radiance.
Her parents were initially opposed to her idea of lingerie shopping because of its stereotypical approach. Nonetheless, this entrepreneur was able to achieve her goal of providing Indian women with an embarrassment-free option for lingerie shopping.
Zivame currently employs over 200 people and receives over a million visitors per day to their online stores. This company is worth more than Rs. 681 crores.
Lenskart
Lenskart is a well-known name in the Indian eyewear market, specializing in eyeglasses, contact lenses, and sunglasses. Peyush Bansal, Sumeet Kapahi, and Amit Chaudhary founded this company in 2010.
Lenskart currently offers 5,000 frame styles and 45 different types of high-quality lenses to its customers through an inventory-based model.
They also use imported German technologies in their manufacturing to produce eyewear that is accurate to three decimal points.
Lenskart also implies its wide range of testable products by providing a 3D trial feature on the shopping app for its users, allowing them to try the real image based on the spectacles before ordering it online. Lenskart currently operates both online and offline, and it also has a membership program that offers several member-only discounts to customers.
Lenskart, in its true sense, recognized what the Indian markets lacked and provided it with the highest level of perfection and opportunity.
Big Basket
Gone are the days when one had to stand in long lines and go to crowded places to bargain for the best deals on vegetables and groceries.
In India, you can use Big Basket, an internet-based grocery delivery service. This Bangalore-based firm was established in December 2011. The company primarily delivers grocery items found in convenience stores, as well as home essentials and food supplies, to its customers’ homes
Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari, and Ramesh founded this. As the company expanded, it acquired DailyNinja, a micro delivery company, and in February 2021, Tata Group acquired a 68% stake in Big Basket.
SnapDeal
Snapdeal, based in New Delhi, was founded in 2010 by Kunal Bahl and Rohit Bansal. This company began as a daily deals platform but expanded in September 2011 to become an online marketplace dealing with multiple product categories.
In the Snapdeal model, over 5 lakh sellers are selling a variety of products at street or local prices. It assessed market needs and the types of products it sought online to provide with customers all products ranging from electronics to fashion to necessities, and so on.
However, a failed merger of Snapdeal and Flipkart occurred as a result of the Snapdeal board not agreeing to the proposed merger. This was an incident that not only secured Snapdeal’s market share as it was prevalent but also led Snapdeal to evolve into Snapdeal 2.0. This new model yielded significant results because it was founded on an understanding of India’s constantly evolving market.
Purplish
Purplish is a beautiful online e-commerce store that competes with its sister store Nykaa. What distinguishes and distinguishes this 2012-founded startup is that it primarily focuses on the personalization of products based on the skin and hair type of the customer seeking to purchase the products.
Manish Taneja, Rahul Das, and Suyash Katyayani, all IITians, chose the cosmetics line because urban women were becoming more exposed to and interested in cosmetic products. Purplle’s e-commerce platform alone generates more than Rs 15 crores per month as a result of this market understanding.
This company has not only paved the way for international beauty products like Moda Cosmetics and Vipera Cosmetics in Indian markets, but it has also launched a private label of skincare and beauty to further expand its market reach.
Clovia
Clovia is one of the fastest-growing lingerie brands in the Indian market in terms of brand designs and product options. This 2013-established brand is both the manufacturer and marketer of the same-named products. Pankaj Vermani, Neha Kant, and Suman Chawdhry founded this.
These individuals recognized that women in India had fewer options for these products, and the few options available were priced very high, and they saw an opportunity to create a new and affordable brand of women’s lingerie. This company currently works with both online and offline stores to better connect with its customers.
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