The three biggest ecommerce sites in India are all losing money.
Amazon, Flipkart and Snapdeal are all slashing prices to attract customers, something that they hope will bring them big profits in the long-term, despite it causing them financial losses in the short-term.
The Indian ecommerce market is growing rapidly at the moment, as noted by Siddharth Mukne, Business Advisor at the UK India Business Council, in a recent interview with Webcertain TV.
The Indian ecommerce market is currently worth 11 billion US dollars and this is rising fast, with online sales expected to reach 220 billion US dollars by 2025 according to estimates by Merrill Lynch.Â
