According to TeamLease Services, employment opportunities in e-commerce and allied industries saw a 28% growth in 2021, and recruitment activities in this segment will be further accelerated by economic recovery and aggressive vaccination drive.
The sector grew by 8% in 2020 and 30% in 2021. It is now poised to reach $111 billion by 2024 and $200 billion by 2026.
Looking at the employment ecosystem, employment opportunities in e-commerce and allied industries (e-commerce, social commerce, online grocery/essentials) grew by 28% in 2021, according to TeamLease Services.
Ajoy Thomas, VP and Business Head (Retail, E-commerce, Logistics & Transportation), TeamLease Services, said, “With aggressive vaccination campaigns across India and economic activity returning to normal, the next year is going to be very optimistic.”
Thomas said that for e-commerce and startups, which have been profitable throughout, many new job opportunities will be added in 2022 and hiring will increase by 32%.
During the year, the demand for roles such as supply chain management, warehouse roles, support services and customer service management was high.
The report further stated that not only Tier I locations but also Tier II to Tier IV sectors saw an increase in recruitment, especially as e-commerce has now gone deeper into the interiors of the country.
“The valuations in these industries were on an average 20 to 30%. Many companies also introduced unique benefits and compensations such as relaxing their attendance policies, providing flexibility in schedule changes, implementing additional sick leave and exploring back-up childcare options for employees,” it said.
TeamLease Services said that the year 2022 is going to be an even more promising year for e-commerce and tech startups, which are set to reach a CAGR of 27%, reaching $111 billion by 2024.
2022 is going to be a promising year but some reforms and financial support is needed to help the sectors to grow and flourish.
In the coming year, especially during the next budget, the government should recognize and support new business models in both product and service sectors, aimed at improving consumer experience and benefitting regular and gig workers with better incomes. to provide employment.
In addition, a lot of clarity is also needed regarding the current e-commerce policies. “From a policy point of view, reforms should not be stifled with red tape, bureaucratic rigidity and avoidable policy restrictions. All this will help fuel further growth in this segment,” it noted.
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