Increasing internet and mobile penetration, changing shopping behaviors of customers, favorable demographics, and growing acceptability and security of online payments, are several factors that have led to the unprecedented growth of digital commerce, an industry that is worth $22 trillion today. While the e-commerce boom provides online retailers with every reason to celebrate, it is important to understand that this sector is subject to rapid technological advancements, demand shifts, and market trends.
As more and more customers are using the internet to buy goods and services online, the number of players in the e-commerce industry has increased sharply. This intense competition has compelled online retailers to introduce aggressive pricing strategies, substantial discounts, free delivery, and high commissions to vendors and affiliates. As a result, profitability has decreased significantly, and e-commerce businesses are looking for new ways to stand out from their competitors and seize a larger market share.
As customers today can engage and communicate with merchants through a whole variety of channels, online retailers are focusing their efforts on delivering an omnichannel experience to their consumers. The goal of an omnichannel retail strategy is to create a more integrated and meaningful customer experience across a connected ecosystem comprising of in-store, web, and mobile experiences.
Offering a highly personalized experience to customers remains one of the ways e-commerce businesses seek to assume a unique position in the market. To ensure this, online retailers are investing heavily in artificial intelligence (AI), Big Data, and other data analytics technologies that can provide them an exclusive insight into the needs and expectations of their target customers.
For online retailers with operations across multiple countries, cross-border payments present a whole new dimension of challenges and concerns. From identifying the preferred payment method of the local population to currency management and security of online transactions, there are some factors to consider in offering a secure and seamless shopping experience to the buyers.
At Allen Austin, we understand that in an industry as dynamic as e-commerce, a company’s success depends significantly on innovation and leadership. We help our clients find and retain the best executive-level talent that’s capable of anticipating the change and responding to it in a proactive and strategically smart manner.
Our executive search process is consultative and tailored to meet the precise needs and expectations of each client. We devise outcome-oriented executive-level recruitment solutions based on an in-depth understanding of the challenges faced by a business. As a result, our executive search services do not just fill the leadership gaps, but also ensure a high return on human capital investment.