Online retail is the electronic form of shopping for goods via the Internet. Online retailers or e-tailers showcase their products on an online platform (website) for customers to select and buy their choice of products.Updated: Mar 14, 2012 11:25 IST
Online retail is the electronic form of shopping for goods via the Internet. Online retailers or e-tailers showcase their products on an online platform (website) for customers to select and buy their choice of products. Traditional offline retail format refers to a retailer setting up a store to showcase his inventory of products. A mid to large size retailer has anywhere between 80–100 stores spread across the country with inventory stocked in each of their stores. An online retailer, on the other, hand has an online platform to showcase products and has a set of warehouses where all products are stocked along with a distribution channel. When an order is placed online, the product is shipped directly to the customer. There are over 200 players in the online retail space with new ones being added every month. Most of the large offline retailers are also looking at targeting the online medium this year
A weekday is normally packed with meetings and discussions.
A typical day would include:
8.30am: Reach office
9am to 5pm: Monitor key business metrics, oversee the operational aspects in sales and marketing and work on plans to strategically grow the business
7pm: Leave for home
The culture at my workplace is lively and fun filled. Employees have the liberty to make themselves comfortable at work, bring out their creative best and showcase their talent
The salary structure typically depends on the years of experience, your organisation and designation held in the organisation. “Apart from monthly compensation, we at Myntra provide every employee with company stock options and other benefits like medical insurance for the entire family etc,” informs Ashutosh Lawania, co-founder and head of sales, Myntra.com
* You should have very good communication skills
* Ability to visualise well. For example, you should be able to foresee how your product will look on the website
* Good with technology
* You should be good with the concepts and theories of branding, merchandising, warehousing etc
To work in an online retailing firm or the industry, you need to have the right skill set. Apart from this, thorough knowledge of the digital space is essential. After Class 12, you can go for graduation or engineering. Once you are done studying, you should look for internship opportunities in e-commerce companies to get a feel of the industry. Various e-tailers provide job opportunities in engineering and product management, sales and marketing, operations and logistics and buying and merchandising
Institutes and URLs
* There is no specific programme on online retailing yet. However, there are modules on this subject taught across fashion schools and management programmes which are aided with guest lectures. Interning with e-commerce companies will help you get a feel of the job
Pros and cons
* You will be part of a fast growing industry and at the cusp of technology innovation.
* Working with specific e-tailers like Myntra will provide additional exposure to the fashion and lifestyle segment not only in India but globally.
* However, the nature of the job is challenging considering that the market is growing rapidly
There are over 200 players in the online retail space with new ones being added every month. Most large offline retailers are also targeting the medium this year
Ashutosh Lawania, Myntra.com