Clearly, Ecommerce will dominate global Retail in the coming decade, as evidenced by growing VC investments in E-Commerce start-ups around the world.
Sector growing too fast: Unlike other industries which have grown steadily, making it easy to create standards and processes, E-commerce offers no such advantage. Both the company, and its workforce must envisage and implement new procedures every day, making implementation a challenge.
High attrition: As a direct result of the above, employees are forced to think on their feet all the time, leading to workplace stress and low employee morale, popular causes for attrition.
Talent crunch: E-commerce is marked by clear segmentation of workforce, with a small percentage of qualified Managers managing semi-qualified staff. Organic growth, which involves recognizing lower-level talent and preparing them for higher roles, is a challenge, causing severe demand-supply gaps.
Boom-bust cycles : As more and more VCs perceive E-Commerce as a goldmine, too many companies are jumping on the bandwagon, then unable to keep pace with intense competition, and going bust too soon. This makes it difficult for the promoters to optimize their Operations or invest in Employee Training.
Ideal for both early-stage E-com start-ups and established players.
Induces processes early on, making employee engagement easy
Speeds up recruitment cycles, onboarding procedures and training cycles
Enables better Employee Productivity in a short timeframe
Reduces operational overheads and maximizes revenue