India – a growing market and its top stores

The 2018 top online stores by net sales in India are all growing fast, with Amazon in the lead

India is one of the up-and-coming regional markets when it comes to eCommerce. According to the Statista Digital Market Outlook, the Indian eCommerce market will generate overall revenues of about US$43.5 billion in 2020. This corresponds to a year-on-year growth of 31%, already including the expected impact of COVID-19. In a worldwide1 comparison, India has thus reached rank 8 among the biggest eCommerce markets.

Similarly to other emerging eCommerce markets, Electronics & Media is the strongest product categories, followed by Fashion and Food & Personal Care. Toys and Furniture, which are traditionally strong in highly developed markets like the U.S. or Germany, play a minor role in Indian eCommerce. Another distinctive aspect of the Indian market is the great importance of online marketplaces. First and foremost it is Flipkart that comes to mind in this context, but also Amazon marketplace or websites like jabong.com or myntra.com, which now belong to Flipkart, are big in India. In the ecommerceDB.com online store rankings, marketplaces connecting buyers and sellers are out of scope. The ranking of the ten biggest first-party online sellers, however, is no less interesting:

Top 10 online stores India 2018

Not surprisingly, Amazon is again the top dog. With net sales of just above US$1 billion, amazon.in had by far the highest net sales of all Indian first-party online stores in 2018. amazon.com also makes it into the top 10, with net sales of US$210 million and rank 5. Second and fourth-placed are two big Indian food players, namely bigbasket.com with net sales of US$341 million and grofers.com with US$227 million in net sales. In between comes apple.com, which owed US$233 million of its net sales to the Indian market, making it into the top 3. The undefeated growth champion is without doubt grofers.com. Compared to 2017, the Indian grocery delivery service grew its net sales by an amazing 103% in 2018. But almost all stores in the top 10 registered solid double-digit year-on-year growth, many of them above 50%. Considering that many of the biggest stores are food players, it is likely that they were able to further increase their relevance recently, following the corona pandemic government regulations, which put wide parts of India under lockdown.

 

1: 150 countries covered by the Statista Digital Market Outlook

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June 2020