Click on Student or Startup / Company for Registration

Is 2021 the right time for launching your e-commerce startup?

1/5 - (1 vote)

The term Startup is itself a statement when it comes to the e-commerce field where one becomes curious about what’s next. With the advancement of technologies such as internet marketing, electronic funds transfer, online transaction processes, automated data collection, supply chain management, electronic data interchange, the e-commerce field is heading towards a future to give e-commerce startup fancy full scope for their business in 2021.

E-commerce and its models

E-commerce is a readily comprehensible term that refers to transactions conducted via the internet, involving the transaction of goods and services, exchange of data, and transfer of funds. It encompasses four basic electronic commerce models, Business to Business (B2B) where the companies do business with each other and online transactions don’t involve consumer, Business to Consumer (B2B) where companies sell their goods or services directly to the consumer, Consumer to Consumer (C2C) where the consumers are in the direct contact with each other and no other company is involved and the last one is Consumer to Business (C2B) where the consumer provides a good or service to the company. E-commerce startups are a company or a store in the beginning stage that seeks to create an online-based platform to conduct transactions through e-commerce medium.

E-commerce estimates

The latest e-commerce stats should never be overlooked before starting e-commerce based startups. So, we’ll now see the statistics of e-commerce retail.
It accounted for less than USD 1 billion in 2010 and has grown to more than USD 30 billion in 2019. It is no surprise that the stunning figure will account for the USD 100-billion mark and embrace e-commerce retail by 2024. Over 2.14 billion people worldwide are expected to buy goods and services online in 2021, in comparison to 1.66 billion global digital buyers in 2016. The trend of purchasing goods and services online is enticing young entrepreneurs and those who are willing to set up Startups in 2021.

Impact of the Pandemic on the estimates

Nevertheless, the expected estimates for retail had declined by 10 percent and e-commerce by 2 percent in 2020 due to the covid-19 global Pandemic. This global Pandemic will be a defining factor in upcoming years as well. But, on the other hand, it made ample room for the e-commerce market to flourish worldwide.

Overview of e-commerce startups in 2020

Let’s have a look at the few top startups doing pretty well at the e-commerce platform:
Myra, an online pharmacy which was founded in 2015, deals with over 1000 transactions daily offering a unique solution of technology and operations that makes buying medicines more efficient and faster. Currently, they are making a lot of money.

Schbang, a digital marketing agency offering more services than any average agency like Designing, Search Engine Optimization, Video Production, Technology, Photography, Influencer Management, Media Planning & Buying. It has worked with popular brands such as Hot Wheels, Amazon Fashion, and Raw Pressery.

Acko General Insurance, a digital insurance firm founded in 2016, provides personalized policies based on user behavior and offers great prices, stress-free claims, and compatible convenience. Just over three years, Acko with an innovative concept has become a familiar platform with a rapidly growing customer base.

Jumbotail, India’s leading wholesale food and grocery store, and a new retail platform, is setting a remarkable online grocery marketplace by offering credit for shop owners via partnerships with third-party lenders.

Promising factors for the evolution of E-commerce startups in 2021

The rapid extension of internet services and the smart penetration of smartphones worldwide is day by day setting up a tremendous platform for e-commerce, which would benefit the e-commerce startups in 2021 and also in the coming years. Young entrepreneurs are seeking new ideas and presenting the market with fresher avenues of business aspects. The new normal is an opportunity for the startups to sprout up in the e-commerce market as nowadays, to a greater extent, people are opting for e-commerce services, which can’t be slighted. Moreover, the trending work from home and the time spent at home is now being utilized in understanding the technologies which would come up with new ways of doing e-commerce business.

No one would spurn a platform that will provide the secure, reliable, uncomplicated, and adaptable form of an e-commerce transaction. So, gear up for 2021 if you are thinking of launching your e-commerce startup.

Share on

Share on facebook
Share on twitter
Share on whatsapp
Share on telegram

Leave a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

KaroStartup Login


Fill in your details and we’ll get back to you in no time.


Fill in your details and we’ll get back to you in no time.