Growth of E-commerce Industry and related careers in the World

Growth of E-commerce Industry and related careers in the World

Growth of E-commerce Industry and related careers in the World

Growth of E-commerce Industry and related careers in the World

by Shruti Garg 16/04/2020

Jack Ma, the founder of e-commerce giant Alibaba, waded into China’s anti-poverty campaign and considers the expansion of e-commerce as a strong step to eliminate poverty from the globe. Taobao, Alibaba’s platform, has helped more than 600 villages to become e-commerce hubs to improve the financial condition of the Chinese rural families. So, there must be a reason behind his actions and truly the rise of e-commerce has changed the global business scenario with a remarkable growth rate since the inception of e-commerce shopping platforms. 

 

 

Types of E-commerce

 

  • Business-to-Business (B2B) – When a business sells its product to another business, it is called B2B transaction.
  • Business-to-Consumer (B2C) – When a business sells its product directly to the customer through their website, it is called B2C transaction.
  • Consumer-to-Consumer (C2C) – In the C2C transaction model, the platform itself does not own or sell any products. It simply serves as the bridge between the consumer that is selling their product and the consumer that is buying the product. It builds a buyer-seller relationship.
  • Consumer-to-Business (C2B) – In the C2B model, Consumers act like contractors that will promote certain projects which allows them to bring value back to the business. An example can be made of social media They help businesses grow by promoting their products on their profiles.
  • Consumer-to-Administration (C2A) – This transaction model allows access for consumers to acquire information, make payments, and establish a direct line of communication between the government or authoritative body and the consumers it represents. 

 

The Reasons Behind This Massive Success of E-commerce

 

1.  Technology and Data-Driven Approach

 

In the world of technology, it is pivotal to keep an eye on statistical data. Through a sound understanding of your customer’s needs and requirements, you will be able to take necessary steps in your e-store. Nowadays, with the help of analytics devices, you can track consumer behaviour when shopping through e-commerce stores. And, it is proven that right analytics can actually be beneficial for businesses that will drive sales crazily.

 

2.  Convenient and Mobilized Version of Shopping

 

Everything has become simpler with mobile phones. In today’s mobilized era, it has become a vital task to match the user requirements. Whether you are a start-up or an established entrepreneur, having a strong online presence is must to generate sales of your business. People love to shop online nowadays to avoid all that shopping hassles and E-Payments are also becoming a popular payment medium to buy products. Cross-border shopping is also a popular choice. Many online shopping websites in USA provide great deals on cross-border shopping.

 

3.  Rise of Subscription-Base Selling

 

Want to increase user interest in your e-store? Want to keep them engaged and updated with your e-store? Promoting a subscription-based selling process can be beneficial as consumers are always looking for some new offers or profits and modern options.  Providing subscription based services to consumers has proven to be a sound management and leadership skill and can definitely arouse excitement in the whole shopping experience.

 

4.  Videos Related to Shopping and Products

 

Don’t we all love to watch those shopping videos? Videos of products (product reviews, hauls, gadget reviews) on e-commerce sites are going viral. It is attracting more customers. Customers get a better idea and understanding of a product by seeing a video. Visual illustrations are always a better choice.

 

5.  Virtual-Reality Shopping

 

With the advent of technology, tools and skills, E-Commerce businesses are making giant investments in providing a Virtual Reality world for the customers for their shopping requirements. People are going crazy with the 3D world while checking a product on e-stores.

 

6.  Discounted and Convenient Products

 

Let’s be honest here. E-commerce websites provide huge and amazing discounts that no offline store can ever imagine providing. Along with discounted rates, they provide hassle free delivery and their return or exchange policies are extremely convenient.

 

 

Career in E-commerce

There has been a growing trend of youngsters seeking career advice and aspiring to build careers in the E-commerce industry. Working in the e-Commerce industry exposes you to all aspects of a business. These include: marketing, setting prices, customer support, team culture, supply chain management and customer acquisition among others. It  is a good way to learn managerial skills that you can use later in other fields of business.

Another silver lining that this industry provides is for the work from home new moms, who opt to start the second innings of their careers by setting up small yet high quality outlets like that for home crafts, cooking products or home decor tips etc. With the advent of global connectivity and sound digital marketing, a small venture can gather rave reviews and become an internet rage within no time. Innovation and quality is what matters in the end.   You move away from the tangles of complications like employer-employee, salary slip, unpaid leaves etc, and in a way become an enterprise of your own. You can scale up or down entirely based upon your own requirements and convenience.

The trend of online shopping is blossoming like wild flowers in today’s time.  This is simply because the usage of mobile devices is rising at an unstoppable rate and more than 3.4 billion people are internet users. Hence, online shopping is the first word that comes to any shopper’s mind when they hear “shopping”.

On the whole, e-commerce promises to change the way we show, hire and do business in the long run.

by Shruti Garg 16/04/2020

 

Shruti Garg blogger Talentese

 

 

 

Shruti Shruti Garg is an MBA graduate from TAPMI (Manipal) and is the founder-Director of a successful startup called Translationlight.com, which has business links in 24 countries from Asia and beyond. She regularly writes in areas of her interest, like the growing market trends and advent of digital marketing in today’s world.

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by Chris Woodard 05/03/2020

Business and finance are two of the most versatile disciplines that can land you great opportunities in many industries. Business and finance majors acquire valuable skills and knowledge that enable them to make a huge impact on any type of business. While many graduates dream of working in corporate and even in Wall Street, one industry that is often overlooked is construction.

There’s no denying that the construction industry has a negative reputation for fresh graduates. Stereotypes reinforce the notion that construction jobs are dirty, stressful, and not really ideal for fresh graduates. The image of construction work that typically comes to mind involves groups of people in rugged boots and yellow hardhats discussing project plans or using heavy equipment. However, this is just the tip of the iceberg when it comes to job opportunities in the construction industry. 

Should you choose to enter construction, rest assured that there is a high demand for skilled and professional workers. In fact, many construction business owners are struggling to meet the rise in demand for more construction projects. With a huge chunk of the workforce retiring, construction firms need to train new employees and fill these jobs sooner rather than later. 

If you are interested in pursuing a career in construction, here are some jobs that are well-suited for business and finance graduates. 

 

B2B Account Executives

 

If sales is your forte, the role of a B2B account executive is a good fit for you. Business-to-business (B2B) account executives represent the company in reaching out to prospective and current clients and offer solutions through their products and services. This role is perfect for business graduates because of their in-depth knowledge of sales processes as well as the methods for building a network. The responsibilities that you may have as a B2B account executive include:

      • Oversee the sales cycle, from looking for prospective clients to closing deals
      • Present products and services to prospective clients and respond to their questions
      • Provide after-sales support and resolve issues to maintain client loyalty

 

Junior Project Managers

 

Junior project managers assist their senior counterparts in ensuring the successful delivery of a construction project. This involves coordinating with owners, contractors, suppliers, and other stakeholders to achieve project goals. Here are some of the duties of a junior project manager:

      • Oversee the flow of information from the owner to the concerned teams and other project participants
      • Assist senior project managers in supervising the tasks needed to complete a project
      • Develop plans for construction projects, including schedules, employee’s duties, and budget allocation

Construction Marketing Specialists

 

Construction marketing specialists help develop a construction firm’s marketing strategy, create marketing collaterals, and monitor marketing programs across multiple channels. This involves researching the market for profitable segments to target, estimating the demand for their firm’s products and services, and creating actionable plans to reach the target market. The duties of construction marketing specialists include:

      • Assist senior marketing specialists in looking for trends and identifying new marketing opportunities
      • Create marketing collateral and ensure that brand guidelines are met
      • Develop product and service proposals to aid in trade show projects and other lead generation activities

Junior Business Analysts

 

Business analysts aid construction firms in assessing different operational issues and providing solutions to address them. Fresh business graduates can join as junior analysts to aid senior counterparts in fulfilling both permanent and ad hoc tasks. Some of the business analyst roles in the construction sector and their duties are as follows: 

      • Sourcing Analyst – Create the profiles of potential contractors, suppliers, and vendors and analyze them for prequalification
      • Financial Analyst – Identify the financial status of a project by comparing and analyzing actual costs versus plans and forecasts
      • Payables Analyst – Oversee the entire accounts payable process, from the receipt of invoices to closing transactions
      • Disbursement Analyst – Analyze the company’s cash position and forecast long-term and short-term cash flow

Junior Collections Specialist

 

The construction industry is notorious for late payments and it is up to the construction business to be proactive in protecting their payment rights. Collections specialists are responsible for the management and collection of accounts receivables from clients as well as managing billing problems and reducing the rate of delinquent payments. They are also often responsible in ensuring that preliminary notices and liens are sent out to protect companies from lost revenue. Finance graduates can take on the junior collections specialist role and assist collections personnel in managing receivables. Some of the responsibilities of collections specialists include

      • Collect customer payments in accordance with the agreed-upon payment due dates. 
      • Make timely reminders to clients for receivables with near payment deadlines
      • Encourage clients to resolve delinquent accounts while keeping the company’s reputation for excellent customer service

Job opportunities in the construction industry are on the rise. If you are a business and finance graduate currently looking for career opportunities, it is time to consider working in the construction industry. Depending on your skillset and your specialization, many of the jobs available to you can offer competitive salaries and a fulfilling career.

 

by Chris Woodard 05/03/2020

Chris Woodard is the Co-Founder of Handle.com, where they build software that helps contractors, subcontractors, and material suppliers with late payments. Handle.com also provides funding for construction businesses in the form of invoice factoring, material supply trade credit, and mechanics lien purchasing.

Chris Woodard

www.handle.com

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