Indian e-commerce space taken over by foreign companies like Amazon and Walmart.A few years ago there came a boom in online shopping in India with innumerable sites popping up in online space. The trend still continues but now these Indian e-commerce websites being taken over by giants of foreign countries who have already established themselves long ago and have very deep pockets.
Snapdeal, Flipkart, ShopClues were names everyone was aware of as there were times when these three competed against each other with discount offers, festival sales, round the year discount, etc but now Snapdeal is at the verge of closing down, ShopClues hardly doing any business and Flipkart being almost taken over by Walmart.
There are many other websites like Jabong, Myntra, Jaypore, etc but soon they will also be up for sale to foreign companies in name of Investment.
Amazon entered the Indian e-commerce space and totally changed the mathematics of Indian e-commerce sites. Now another giant Walmart entering India will be like 2 giants of USA fighting on Indian soil.
Now who is the real winner? Is it the consumer or is it the Indian economy or is it the US giants Amazon and Walmart.