Why Hong Kong's retail sector may face talent shortage in 2024

Employee expectations to contribute to manpower crunch in the industry.

Hong Kong’s retail industry is currently being shaped by artificial intelligence, enhancing online and offline customer experiences to maximise profit, Randstad reported.

Businesses are also seen to invest in media marketing to increase targeting accuracy and measure campaign performance.

Despite a positive outlook, talent shortage will be a dilemma for businesses in 2024. 

In 2024, Randstad expects a surge in demand for talent in customer relationship management (CRM) and data management and analytics to drive online sales.

Talent for omnichannel operations will also be in high demand as retailers advance shopping offerings.

When it comes to work benefits, employees are now seeking work-life balance, increased salary, and professional growth.

Notably, sales and marketing professionals expect a 10% to 20% increment on the total annual package including additional benefits, bonuses, and commission structures.

In addition, the retail industry this year will revolve around its commitment to digitalisation, personalisation, speed, and sustainability.