Monday 26, Oct 2020, Delhi (India)
Globally a new platform for revenue generation but E-Commerce requires innovators and curators at the backdoor to make it successful.
Globalization and digital innovation have hurtled the fashion industry in every aspect. New developments have been staying constant on the same roads due to the advent of technology. With 93% of millennial spending leisure time on social media and the internet new softwares and applications of E-Commerce are booming and making it easy for them to purchase.
E-commerce is a new road for growth and is simply defined as the idea of conducting commercial transactions on the electrical platforms through internet. It has been progressive in nature and is simplifying day by day. People’s inclination towards e-commerce and the digital world is increasing due to the swarm of mobile phones and accessibility of internet.
As with every new industry that has a future to grow, the employment opportunities come hand in hand, so is the same with the E-Commerce industry, employment from sales executives in physical shops have now moved on to the digital ones. Those with skills and knowledge of E-Commerce selling and digital marketing are on a high demand throughout right now.
According to a report by KPMG International Cooperative it is expected that E-Commerce will create an employment of 1.45 million by 2021 in India. Besides manpower for deliveries, the online market has opportunities for sales, logistics and warehousing, digital marketers, engineers, developers, designers, executives and many more.
“This industry would be the leading employment generator for at least a decade if not more” said Kunal Bahl, CEO of Snap deal in one of the reports. E-Commerce industry also up skills the employees through regular training and interventions.
Every industry and sector has entered into the tech world which has untangled the growth aspects and approached the people. Fashion industry has been one of the largest positively affected industries because of the E-Commerce which brought new platforms to rise and grow. Fashion E-Commerce is a competitive business and always looks for new ideas. Flattering pictures, informative stories and maintaining catalogues about an existing brand is what people are looking for at this moment.
According to the Statista, the global online fashion market accounted for a worth of $533 billion in 2018 and is expected to reach $872 billion by 2023. It further states that 65% is captured by the apparel industry, 25% by footware and 10% by the accessories. This truly proves that E Commerce is the new road for growth.
Due to the dawn of E-Commerce, a new face of fashion came up which has been spreading with no chances of slowing down. E-Commerce has enabled the luxury fashion market to be more approachable to people worldwide. Along with luxury, smaller brands are also entering into this business and are growing with good statistics. Minimum investment and more awareness accounts for their recognition.
Small Businesses – Bigger Platforms- E-Commerce
With the E-Commerce, business works in an easy manner as there is direct contact of consumer and buyers which are increasing day by day. An increasing number of startups and smaller enterprises are successfully boosted by the digital companies like Shopify, Kickstarter, Amazon, Myntra and more supporting the small entrepreneurs. A study by KPMG International Association states that in India 70% of online sellers are from smaller towns.
Social Media’s Role In E-Commerce
Social media plays an important role as it affects the purchasing power of people. E-Commerce is largely affected by the social media screens. It has presented equal opportunities for both, smaller and bigger enterprises.
The Social Media gave rise to a new segment called fashion influencers. These influencers get opportunities by associating or collaborating with fashion brands and promoting their products via the followings they have amongst their viewers. This opened a new earning methodology, supporting the fashion influencers livelihood.
Brands are at the double sales and profit levels due to the shaping of E-Commerce. Easy access for consumers to purchase through a click of a button and easy return possibilities has increased the revenue for brands by 28%. With employment being created in the E-Commerce industry I Knock Fashion through its Career Page tries to connect the employer and employee too. Do check it out if you are looking for an employment opportunity in fashion.