India’s e-commerce sector has been seeing a boom of sorts over the last two years. A number of e-commerce companies entered the market with the intent of making it big. However, not many were able to survive and keep up the momentum. While some had to revamp their entire business model, others had to close shop forever. Not all companies met with the same fate. There were a couple of big players in the market this year who could possibly change the face of e-commerce in India. Let’s take a look at the top e-commerce hits and misses of 2014.
Amazon.in – Hit
After continuous lobbying to set up base in India, Amazon finally opened its dedicated online portal for Indian shoppers this year. The global retail giant soon emerged as a strong contender in the e-commerce market and is now giving domestic players a run for their money. A full-fledged operation along with more than $2 billion investment in the pipeline will ensure that we see more hits from the company in the near future.
Done By None – Miss
What happens when the captain himself decides to abandon the ship? It ends up crashing and sinking of course. That’s probably the course Done By None is now on after its director decided to call it quits and head over to greener pastures, aka Micromax. The company has been floundering for quite some time now and would most probably shut doors soon enough if it fails to attract any investors.
Flipkart – Hit
The much hyped about Mega Sale of the year turned out to be a mega flop with many shopping crying foul over the company not offering what it promised. But Flipkart still managed to hold onto its loyal customers and has raised more than $600 million in a third round of financing. It still managed to become a hit in the e-commerce sector this year.
Yebhi – Miss
Despite being an early entrant in the e-commerce market, Yebhi has not managed to grab a stronghold so far. In fact, the company’s inability to secure funds from investors has forced it to change its business model from being an online store to just a navigator that sends customers to the original website upon selecting a particular product.
Snapdeal – Hit
2014 was very eventful for Snapdeal as it received more funding from investors like Ratan Tata and Softbank. Intent on expanding its portfolio, the company has also started entering new domains with strategic partnerships, thus ending the year on a high.
India Plaza – Miss
Another early entrant in the market, India Plaza had to bite the dust this year due to lack of investments. The last investment it managed to attract was way back in 2011 when it managed to rake in just $5 million dollars.
2014 saw many an e-commmerce giant in India either make it big or flounder. The list shows the companies that enjoyed the greatest hits as well as those that experienced the greatest misses this year.