Startups are becoming a great deal in India especially among the youth. Everyone likes to be their own boss, work on their own terms and be in charge of their own business. The latest and the most growing fields for startups are e-commerce, grocery, pharmacy and e-learning.
Groceries are a vital element of every household and grocery shopping has always been a matter of discussion in almost every family. However, purchase of groceries has changed drastically over the past few years. From buying groceries from shopkeepers to purchasing it online, grocery business has been affected dramatically.
But is it successful? Let the numbers do the talking. India’s grocery and food market is estimated to be $300-500 billion at present. Some of the most successful startups in India are Grofers and BigBasket which are also the major benefactors, as per February 2018 Crisil report.
Yet, less than 2 million people in India use online portals to buy groceries. And this becomes a major topic of discussion when it comes to being the best startup in 2020. According to the founder of Paisool, Raj Subramanian, grocery is a mere distribution business. The only problem is that we’ve been used to price-controlled food. It all boils down to the fact that grocery as a startup may be effective depending upon the demand of it and whether or not it should be considered as an e-commercial startup.
Pharmacy has been one of the most ancient and effective startups in India. Almost every village, town and street has a pharmacy shop. Let’s start with a few facts. When compared to other local businesses, pharmacies do make a decent amount of profit. The average independent pharmacy profit in 2016 was 22.1%. India’s pharmaceutical industry ranks 4th in volume and 13th in value on the global pharmaceutical market.
It was only a matter of time that medicine and pharmacy became available online. Various startups like MedPus, 1mg, Medlife, PharmEasy and Myra are providing some really effective and efficient services to their customers.
Many online shopping apps like Flipkart, Amazon, BigBasket and food delivery apps like swiggy are trying to partner and invest with these online pharmacy players to expand their business. With such big companies trying to collaborate with them, success is quite seeable. However, online pharmacy services hit a rock bottom amid the lockdown resulting in cancelling and rescheduling lakhs of orders.
Another great startup business is the online learning also known as e-learning. It provides ample study material; video lectures, online classes, quizzes, e-assignments and on-demand doubt clearing sessions for the students. The biggest asset of e-learning is easy access and ease of use. In the techno savvy generation that we live in, any student can get easy access to internet and online learning portals. E-learning is an amazing way to learn various new things that may not even be inculcated in the curriculums provided by schools.
Some pioneers in the field of e-learning are Skillshare, Byju’s, Udemy, Treehouse, Coursera and Unacademy. E-learning enables the student to study without distractions and helps them focus and build interest in the subjects they study. Apps like Skillshare promote creative education and focus on understanding the topic.
But every coin has two sides to it. E-learning has its own drawbacks. One of the major drawbacks is isolation. The student doesn’t build a sense of team spirit and prefers acting on its own. E-learning might provide access to deeper knowledge but might curb the reasoning capabilities of the student. It can also be seen as the fact that learning in a classroom with peers enhances many other qualities like patience, open-mindedness and respecting the difference in point of views.
The top startup in 2020 and also the best startup business is e-com or e-commerce to be precise. We all see an e-commercial future. Who knew that the purchase of daily needs like groceries, medicines and dairy products, would be just a click away? You can possibly find anything on the web to be delivered at your doorstep and it becomes a lot easier when everybody has access to the internet. From a billionaire to a roadside fruit vendor, almost everyone has access to the web. Beauty products, electronics, musical instruments, clothes, food, furniture, interior décor, groceries anything can be found on the internet and be delivered to you at your doorstep.
Even an already existing business can be ventured further if it is taken to the internet. But since there are so many websites and online portals to shop from, prices can be compared and be bought from the sites where the prices are lower. Given the fact that the customer cannot touch or feel the products, the customer automatically goes for the product which keeps his pocket happy. Even if your product has great quality, it might go unnoticed with cheaper deals available. This is one of the biggest drawbacks of doing business online. Another factor that affects online business is that even though access to the internet is easily available, not everyone is tech-savvy. It will take a fair amount of time for the audience to get used to the habit of online shopping. The main question comes to the scenario, “are we ready for an e-commerce future?”
Some of the top startups in 2020 are, Ola cabs with a funding of $3.8 billion, Zomato with a funding of $755.6 million, Paytm with a funding of $2.2 billion and the list goes on. The one thing that is common in these startups is that all of these are in some way or the other connected to e-commerce. To have a good startup business in future, access to the internet is a must have. In order to have the most successful startup, one must consider taking it to the web. After all the discussions and debates, it all comes down to one simple yet magnificent commodity, internet. E-commerce is definitely the best new startup especially for a generation like this where everything happens in a click.