For a long time, marketing experts have segmented their targeted consumers in order to understand who might likely purchase a product or a service. In order to grow efficiently, developing companies, need to focus on a specific subgroup of customers instead of getting abstracted with a scattered universe of potential customers. And, the latchkey for that is market segmentation. Market segmentation or customer segmentation can be defined as the process of assessing and classifying customer groups to facilitate targeted marketing. In simple words, market segmentation is a process of dividing the large set of the audience into various small groups based on different categories such as lifestyle, demographics, as well as physiographic behavior. Ecommerce businesses of all sizes are subject to market segmentation for better consumer understanding and customer satisfaction.