Hong Kong Retailers See Turnaround On The Horizon

Hong Kong Retailers See Turnaround On The Horizon

The PwC Total Retail Survey 2017 noted that 40% of surveyed consumers in Hong Kong use their mobile to make a purchase once a month.

Reading the introduction to the report "PwC Disruptive Face of the Retail and Consumer Products Sector in China and Hong Kong" you'd be forgiven into thinking that China and Hong Kong are heading for dark days as China's economy slows and with it, the fate of Hong Kong.

But the consultant actually says adjustments being taken by the city's retailers and consumer companies bode well for a bright future, including the proliferation of different O2O models, a raft of price and product portfolio changes and a different high street shop mix may actually spell growth throughout the forecast period (2016-2020). This is a sentiment reflected by the Hays Quarterly tracker report which projects a positive outlook for the coming quarter. The Hays Quarterly Report tracks recruitment trends in Hong Kong and reveals that over the April to June period, a range of quality roles are coming to market for retail professionals. "At the end of last year many retail professionals were predicting a slump in turnover for 2017 and thus a shortage of quality opportunities coming to market, but in reality the sector is gaining strength," says Dean Stallard, regional director for Hays in Hong Kong.

"The current market is stable and employers are creating a number of quality new positions, which will hopefully prevent experienced talent leaving the sector to join other industries they perceive to offer greater employment security," he adds.

"Certainly, e-commerce management roles should be plentiful this quarter. Candidates should note that many companies are focused on increasing their market share regionally and looking to their e-commerce talent to help make this happen."

Hiring the right digital marketing talent is also crucial to companies achieving regional success through greater brand awareness. As a result, Hays expects to see more opportunities for digital marketers in the retail sector over the quarter. In the more traditional end of retail recruitment, we are seeing a number of frontline in-store roles coming to market and this is expected to continue throughout the quarter. "For all roles, employers are placing greater importance on a candidate's soft skills and will test accordingly during the recruitment process, so its important candidates are well prepared for interviews," says Dean. "Certainly, retail is becoming more sophisticated and iwe are seeing a number of senior candidates undertaking a master's degree in business management or completing more general management courses to boost promotion prospects," Dean said.