In today’s fast-paced retail environment, the quick commerce sector is experiencing a fierce competition not only among businesses but also for attracting top leadership talent. The ongoing struggle between established companies and new entrants has led to rampant poaching of executives, with lucrative compensation packages of Rs 2-3 crore, along with substantial stock options, becoming the norm. This is designed to attract individuals who can lead organizations like Swiggy Instamart, Zepto, Blinkit, and Flipkart, as they aim to solidify their positions in the market.
Anuj Roy, the managing partner at executive search firm Fidius Advisory, observes that quick commerce is one of the few sectors still garnering significant investment despite current funding challenges. He states that many companies in this field are well-capitalized and eager to nurture the right talent. This investment in leadership reflects a broader trend where businesses recognize that the right leadership is crucial for navigating the evolving landscape of quick commerce.
Ashish Sanganeria, a senior partner at Transearch, highlights a recent shift in the job market due to the explosion of quick commerce. Positions that were once hard to fill due to economic constraints are now abundant, opening new opportunities for senior executives who previously faced challenges either in finding suitable roles or who had been priced out of the market. This transition has been propelled by the success of quick commerce in India, markedly different from the failures seen in similar models globally.
The potential for growth in this sector is underscored by a report from Redseer, which predicts that the industry’s gross merchandise value (GMV) will surge at a compound annual growth rate (CAGR) of 40-45% over the next few years. This anticipated growth adds urgency for companies to secure top-tier leadership to capitalize on emerging opportunities.
Company dynamics within quick commerce are rapidly changing, with players like Zepto, Swiggy Instamart, and Flipkart being particularly aggressive in their hiring strategies. While Zepto and Swiggy are seen as leaders in securing talent, other competitors, including Amazon, have yet to ramp up their hiring aggressively. Flipkart’s internal promotions within its leadership ranks might also indicate a strategy to retain talent in a highly competitive environment.
This year alone has seen significant movement within quick commerce roles, with Zepto making notable hires. For instance, Martin Dinesh Gomez joined as chief HR officer from Amazon, while senior roles have been filled by executives coming from top industry names like Walmart Global Tech. All these moves align with Zepto’s commitment to building a robust leadership team and establishing an environment focused on growth and impact.
Swiggy, too, has made headlines by appointing Amitesh Jha as CEO of Instamart, previously associated with Flipkart, alongside acquiring a cadre of experienced professionals across various functions. Girish Menon, Swiggy’s CHRO, claims that the rising popularity of quick commerce is driving this demand for skilled leadership.
As the competition intensifies, firms like Reliance Retail’s JioMart and DMart are gearing up to explore their share of the market, which will further drive hiring demands. Executive search firm Longhouse Consulting’s CEO, Anshuman Das, notes that while established organizations defend their market share, newcomers will likely leverage innovation to carve out space for themselves.
Compensation packages reflect this battle for talent; vice presidents can earn upwards of Rs 2 crore annually, with senior vice president roles commanding as much as Rs 3 crore. Beyond cash, attractive stock options ranging from $1-3 million, and escalating to over $5 million for proven CXO-level talent, underscore the value companies place on their leadership teams.
In summary, the war for leadership talent in quick commerce is indicative of the industry’s growth potential and its significance in the broader retail landscape. Companies that prioritize securing experienced leaders are positioning themselves to navigate challenges and seize opportunities in this dynamic market. As the competition continues to heat up, expect to see more high-profile moves and innovative strategies aimed at attracting and retaining top talent.
