India's multi-billion dollar e-commerce battle heats up
MUMBAIAug 06, 2015 - 12:00 am GMT+3
Aug 06, 2015 12:00 am
The battle for supremacy in India's bulging e-commerce market between Amazon, Flipkart and Snapdeal is rapidly heating up with multi-billion-dollar investments, trolling on Twitter and squabbling over exclusive selling rights. Gaining ground after entering India in 2013, Amazon has been embroiled in rounds of one-upmanship with its local counterparts as competition intensifies for a greater slice of the lucrative market.
Flipkart, India's largest e-commerce firm, and U.S. behemoth Amazon exchanged barbed comments on Twitter recently when portal Reddit India tweeted a photo showing an Amazon delivery box sitting at Flipkart's reception desk. The tweet suggested Flipkart staff preferred to order from Amazon. The Indian company hit back, posting: "We recycled said packaging as our reception's dustbin." Amazon then weighed in, tweeting: "There is a bit of Amazon in every eCommerce company #justsaying," - an apparent reference to the fact that Flipkart's founders used to work for the American company. Flipkart is estimated to be worth $15 billion and commands up to 44 percent of market share, well ahead of Snapdeal, which was launched in 2010 and enjoys around 22 percent of sales, according to analysts. Amazon occupies around 12-14 percent, insiders say.