Today, the web is flooded with e-commerce portals. Everything is sold over the internet. Looking the current scenario, a famous line quoted by Jeff Bezos, founder of Amazon fits great, “It’s hard to find things that won’t sell online”. And the scenario is that there is nothing that can’t be found over the Internet for selling.
A variety of innovative products and services are being offered as per customer’s choice. In India, the growth of e-commerce industry has been phenomenal as more shoppers have started discovering the benefits of using this platform. E-commerce industry has evolved over a period of time with innovations that have changed the rules of the game globally.
In the coming years, e-commerce is expected to contribute close to 8-10% of the total retail segment in India. This growth is bound to continue provided e-commerce companies focus on innovating, building strong technology infrastructure and delivering the best customer experience.
E-commerce growth potential in India
• Since the e-commerce industry is rising wild, changes can be seen over a year. The sector in India has grown by 34% (CAGR) since 2009 to $16.4 billion in 2014. The sector is expected to be in the range of $22 billion in 2015.
• Currently, e-travel comprises 70% of the total e-commerce market. E-tailing, which comprises of online retail and online marketplaces, has become the fastest-growing segment in the larger market having grown at a CAGR of around 56% over 2009-2014.
• Since 2011, Indian e-commerce market has grown at a CAGR of 37%. Within the next 5 years, Indian ecommerce market would be worth $100 billion, thereby contributing 4% to the total national GDP.
• Globally, B2C e-commerce has crossed $1.5 trillion in 2014, thereby having a growth of 20% compared to 2013.
• Digital Advertisement market in India will reach to $35.75 billion by 2015.
E-commerce companies are not only setting trends in terms of innovation but are now shooting out big money in acquiring brains that innovate. HR reports confirm that e-commerce companies are paying mid-level project managers more than what they could earn in a senior profile in technology companies. Taking a look at the figures, the gap is widening every year.
TCS and Infosys pay around 70 lakhs to 1.5 crore annual salary to top level managers such as Vice Presidents and Chief Marketing Officers having an average experience of 18-20 years in the industry while mid-level managers are paid around 15 lakhs to 25 lakhs annual salary.
Companies such as Flipkart, Amazon, Snapdeal, Ola, Uber, Quikr, CommonFloor, Yepme, OLX, Junglee, FashionAndYou, Hungama, Bookmyshow, Jabong, Cleartrip and Lenskart are among companies offering jobs with 1 crore+ salaries.
Flipkart, Snapdeal, Amazon, is offering the annual salary for the mid-level executives ranging from 50 lakhs to 1.5 crores for an experience in the IT field of more than 10 years. The top level executives are paid 1.5 crore to 3 crores, which is probably in multiples to what the big technology companies such as IBM, TCS etc offer.
E-commerce companies are not only generous in their pay cheques but are also known for being extremely flexible in terms of working.
“With hundreds of different ways to reach customers online today, businesses are competing to be relevant in a complex and crowded environment” says Laura McGarrity, VP Marketing, MONDO.
The improvised skill sets such as data analysis, data structuring, digital marketing (SEO, Google Adwords, PPC, SEM, AdSense, Social media, Blogging) are much in demand and programming languages and user interface such as Python, Hadoop, DevOpsis are being used extensively but since this kind of human resources pool is hard to find, hence resulting in huge hike of salaries.
“Salaries have definitely gone up with such intense competition within the e-commerce companies, salary percentage is broadly 25-30% higher from last year for senior roles,” said Radhika Aggarwal, co-founder & Chief Business Officer, ShopClues.
Digital Marketing has now become a stream of marketing that cannot be ignored any longer. It is for everyone, you, me, huge business houses, small start-up businesses, and medium sized companies. Digital Marketing has a solution for everything. The trick is only in applying your mind to say that story you want to share in the most interesting format with the right target audience, through the right medium.
According to IMAI (Internet & Mobile Association of India) report, Indian digital market is expected to grow at 33% this financial year. Keeping yourself updated with the industry patterns can help you land a job in these e-commerce companies. The E-commerce market in India is currently pegged to cross $16 billion in this year alone. The rise in IT services is not going to slow down anytime soon and keeping abreast of all developments is the key to survival for aspiring engineers.