India is a developing country and land of full opportunities. Ten years back, no had ever thought that Indians will shop online and purchase products. At that time, hardly people had access to internet. Keeping the future in mind, the Bansal brothers had started the first ever eCommerce company, Flipkart, in India.
The Bansal brothers put so much hard work in Flipkart and today the company is valued at $20 billion. In just 10 years the company has grown tremendously and is competing with big giants like Amazon. In the next 10 years, the eCommerce business in India will grow to $200 billion.
Recently Flipkart has sold 70% of its stake to Wallmart for $16 billion which was a quite big acquisition. Many players like snapdeal, shopclues, jabong had entered into this field and became successful.
Is it wise to start up something in eCommerce industry? Right now if you want to directly compete with the big guys, then you will be out of the market soon. You have to come up with a strategy to compete with these guys.
I would suggest start selling some products which are not sold by the Amazon and Flipkart. This way you will not have any competition. Try to target one city and deliver the products on the same day. This will give you a big advantage compared to the existing eCommerce companies who target the entire country.
The Bansal brothers put so much hard work in Flipkart and today the company is valued at $20 billion. In just 10 years the company has grown tremendously and is competing with big giants like Amazon. In the next 10 years, the eCommerce business in India will grow to $200 billion.
Recently Flipkart has sold 70% of its stake to Wallmart for $16 billion which was a quite big acquisition. Many players like snapdeal, shopclues, jabong had entered into this field and became successful.
Is it wise to start up something in eCommerce industry? Right now if you want to directly compete with the big guys, then you will be out of the market soon. You have to come up with a strategy to compete with these guys.
I would suggest start selling some products which are not sold by the Amazon and Flipkart. This way you will not have any competition. Try to target one city and deliver the products on the same day. This will give you a big advantage compared to the existing eCommerce companies who target the entire country.
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