THE UPSTARTS

Agile consumer startups are giving legacy brands a run for their money, rewriting market dynamics as shoppers embrace experimentation.

- By Urvashi Mishra

"CONSUMERS TODAY want more than functionality-they want experiences. Buying or selling a car in India is a milestone, not just a transaction," says Vikram Chopra, CEO of Cars24, a well-known ecommerce platform for pre-owned vehicles.

"It's no longer just about need fulfillment. Buyers are now seeking a psychological connection with what they purchase," adds Shankar Prasad, CEO of beauty and personal care brand Plum Goodness.

From automobiles to personal care, traditional market leaders are finding themselves outpaced by nimble startups that aren’t just selling products, but also ideas, identities, and lifestyles. A new generation of consumers who value experimentation, personalisation and brand authenticity over decades-old familiarity are driving this shift, and it is this emotional connection, paired with tech-driven convenience that’s helping startups such as Cars24, Wakefit, and Plum Goodness carve out significant market share—often at the expense of legacy players.

Numbers tell the story. According to figures from startup data platform Tracxn, Cars24 clocked a revenue of ₹6,982 crore last fiscal, while Wakefit, known for its sleep and home solutions, reported ₹1,017 crore, and Plum Goodness posted ₹342 crore.

The message is clear: Heritage alone no longer guarantees dominance. In an era defined by quick commerce, premiumisation, and digital-first discovery, startups are not just surviving—they’re thriving, while legacy brands race to reinvent themselves.

Market potential