E-commerce startups - statistics & facts
Besides the rise of e-commerce and social media, the creation of a digital economy made of startups has shaped the 2010s. Online shopping remains one of the strongest and fastest-growing digital sectors, spawning multimillion-worth new businesses every year. In 2021, e-commerce startup companies valued at one billion U.S. dollars or more 鈥 which grants them 'unicorn' status 鈥 made up an industry of almost 114 billion U.S. dollars. In China, the e-commerce sector is responsible for the highest amount of unicorns, surpassing other cutting-edge areas like artificial intelligence and fintech. As of October 2022, China and the United States are the only markets in the world to harbor e-commerce decacorns, i.e. startups worth 10 billion dollars or more, ranking led by Chinese online fashion platform, SHEIN.
