Why a Boom in E-commerce will Benefit Jobs & Aspiring Entrepreneurs
Indian e-commerce industry is foreseen to surpass the benchmarks of China and other Asia-Pacific countries by the end of 2018; at its current, swift pace of incredible growth. A couple of years ago, it was really hard to speculate the latest innovations and developments in supply chain management, logistics infrastructure, and the warehouses or storage would instigate the unstoppable mushrooming of e-commerce businesses across the country. Recently, the Indian government announced overall revamp of cities and developed special economic zones (SEZs) to boost trade and commerce.
The trend and popularity of online/electronic shopping amongst the masses is escalating with due to the easy availability of telecom and broadband internet services at cheaper rates. The e-commerce retailers are getting more advantage because of this, than local sellers as they can gain full exposure and sell the products at competitive rates.
Some of the dominated online e-commerce retailers in the market of India today are Amazon, Flipkart, and other some big players. But, the emergence of small trendsetters in the online retail trade like Caratlane, Bluestone and GemsRatna against big brands is an interesting space to watch. The reach and trends of well-known e-commerce brands are monumental; budding e-retailers are coming up with creative, and innovative marketing techniques, and getting hands-on new-age technologies for imaging and designing of their virtual stores.
The Indian brands like Snapdeal, PayTM, Flipkart, etc. while surviving the stringent domestic competition, are aspiring to create a strong international presence to intensify the competition against global brands by the year 2020. This requires a smart and rigorous workforce specialized in international trade and commerce to cater the international market.
Brands’ team-building and special training regime to create an international identity will definitely open up many employment, skill-building and learning opportunities for the youth. It will also lead to the formation of new job profiles in technology, marketing, international business, and innovation. Therefore, e-commerce industry in India is all set to give its population innumerable learning and career opportunities until the year 2020. And, the phenomenon has already started this year.
The scope of overall growth of Entrepreneurs
A recently released research report, by Morgan Stanley, estimated that India would have around 320 million online shoppers by the year 2020; making it 6.4 times more than 50 million shoppers in India had during 2015. Looking at the statistics, e-commerce is undoubtedly a future and trendsetter for retail and entrepreneurship. It is highly likely that by the end of 2018, we might get to see the upshots of rising e-commerce industry in India, which are: increase in use of digital wallet, new categories for stakes, more investment in Data analytics, massive online shopping and deployment of artificial intelligence.
To get involved in each of the above, the job seekers must inculcate and upgrade their expertise in web designing, creative programming, digital marketing, cataloguing, and app development. Moreover, the technical knowledge of both Data Analytics and Artificial Intelligence adds a few more stars to one’s CV.
Career opportunities for youth Entrepreneurs
Today, the industry specialists need a workforce trained in logistics management, digital marketing, big data analytics, and technology management, but, unfortunately, many business schools in India are not aligning their marketing and management courses with the requirement of the e-commerce industry.
For anyone aspiring to enter in e-commerce industry, it is very important to know the basic, if not advanced, digital marketing practices such as SEO, SMO, PPC, email marketing etc., setting up ad campaigns for a niche market segment, and legal documentation of e-business such as authentication, intellectual property, security and privacy laws.
To attain proficiency over e-commerce, one really has to win different career domains such as marketing, branding, supply chain, logistics, inventory, and warehouse management, law, HR, and other finance-related areas. The starting salary packages that e-commerce industry ranges from INR 4 -17 lakh per annum. This clearly depicts that e-commerce business is an interdisciplinary market field which requires multifarious skills. However, the traditional institutions are not yet competent in delivering such a multidisciplinary education to the millennials. Pools of job opportunities but lack of skilled professionals restrain e-commerce business to thrive exceptionally well. Therefore, what India calls for today are the education programmes designed as per the needs of industries.
Indian e-commerce sector is thriving with speed, and opening countless job opportunities and learning prospects for all. It is high time to grab the opportunity and shape a new future of Indian economy as well as our individual careers.