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Introduction:
Indian e-commerce sector
The Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest e-commerce market in the world by 2034. India's e-commerce industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 30 per cent to reach US$ 200 billion by 2026. India's internet economy is expected to double from US$125 billion as of April 2017 to US$ 250 billion by 2020, majorly backed by ecommerce.
Much growth of the industry has been triggered by increasing internet and smartphone penetration. Internet penetration in India grew from just 4 per cent in 2007 to 34.08 per cent in 2016, registering a direct increase of 89 per cent in 2016 over 2007. The number of internet users in India is expected to increase at a CAGR of 15.6 per cent from 450 million as of June 2017 to 700 million by 2020.
A young demographic profile, rising internet penetration and relative better economic performance are the key drivers of this sector. The Government of India's policies and regulatory frameworks such as 100 per cent foreign direct investment (FDI) in B2B ecommerce and 100 per cent FDI under automatic route under the market place model of B2C e-commerce are expected to further propel growth in the sectors.
The major players in Indian ecommerce retail sector are Amazon (25%), Flipkart (37%), Snapdeal (14%) Others (24%). There have been many ups and downs in the sector over the years. One of the biggest fall in the retail sector was the slip in the market share of Snapdeal from more than a quarter over a year ago to just 14% now.
Snapdeal
Snapdeal was started in February 2010. The diligent attempt to offer the best to the customers gave Snapdeal its initial success. The company's growth had been phenomenal but it is their continued effort to bring the best to the market and their zeal to succeed as the best B2C (Business to customer) marketplace is what sets them apart. Based on approach: BHAG, meaning 'run' in Hindi and standing for 'big, hairy, audacious goal': team sets seemingly unattainable goals and then strive for it, giving the effort everything.
Through different round the company...