Navigating the Luxury Retail Talent Crisis in Asia Pacific

Asia Pacific's luxury retail sector is undergoing a seismic shift, with the region poised to account for nearly half of the $1.5 trillion global luxury market by 2025, according to Bain & Company. This explosive growth is largely fueled by the rising spending power of millennials and Gen Z, who are expected to contribute 130% of market growth in the coming years.

However, this unprecedented expansion has created a war for talent as luxury retailers scramble to fill critical roles across their APAC operations. A recent survey by a leading retail association revealed that 92% of luxury retailers struggled to fill job vacancies in the past year, with an average of 60 days to hire for store manager positions.

The talent crunch is particularly acute in mainland China, which is projected to overtake the US as the world's largest luxury market by 2025 with nearly $98 billion in annual sales. To capitalize on this opportunity, luxury brands are rapidly expanding their Chinese footprints, with a record number of new store openings in 2022 alone. However, this breakneck expansion has left many brands understaffed, with a shortfall of over 10,000 luxury retail professionals across Tier 1 and Tier 2 cities.

Luxury retailers are also grappling with the challenges of digital transformation, as e-commerce is expected to make up 30% of APAC luxury sales by 2025, up from just 12% in 2019. However, a staggering 89% of luxury retailers reported a shortage of digital talent, with key gaps in areas such as data analytics, social media marketing, and UX design.

To win in this hyper-competitive landscape, luxury retailers need to reimagine their HR strategies for the new era. Some tactics used by leading brands include:

• Launching innovative training programs to upskill and reskill employees, with a focus on digital competencies

• Partnering with educational institutions and online learning platforms to offer bespoke courses and certifications

• Leveraging AI and automation tools to streamline recruitment processes and identify high-potential candidates

• Offering flexible work arrangements and personalized career paths to attract and retain top talent

As the leading executive search firm specializing in luxury retail, Trouvé Executive has been at the forefront of these talent trends. Over the past year, we have successfully placed numerous senior leaders across the APAC region, spanning functions such as retail operations, merchandising, marketing, and supply chain. Our deep industry expertise and extensive network allow us to identify and attract top talent for our clients.

To learn more about how Trouvé Executive can help you build a winning team in APAC, visit our website at www.trouve-executive.com or contact us at admin@trouve-executive.com. Let us be your trusted partner in navigating the future of luxury retail.

亞太區奢侈品零售業人才危機

根據貝恩公司的預測,亞太區奢侈品零售業正經歷翻天覆地的變革,到2025年,該地區將佔全球1.5萬億美元奢侈品市場的近一半。這一爆炸性增長主要由千禧一代和Z世代日益增長的消費力所推動,預計他們將為未來幾年的市場增長貢獻130%。

然而,這前所未有的擴張也為奢侈品零售商帶來了人才危機,他們競相填補亞太區業務的關鍵職位空缺。一項由知名零售協會進行的最新調查顯示,92%的奢侈品零售商在過去一年難以招聘員工,平均需時60天才能聘請到合適的店長人選。

中國大陸的人才短缺問題尤為嚴重。預計到2025年,中國將以近980億美元的年銷售額超越美國,成為全球最大的奢侈品市場。為把握這一機遇,奢侈品牌正在中國市場快速擴張,僅2022年就開設了創紀錄數量的新店。然而,這高速擴張導致許多品牌人手不足,一線和二線城市的奢侈品零售專業人才缺口超過10,000人。

奢侈品零售商還面臨數字化轉型的挑戰。預計到2025年,電子商務將佔亞太區奢侈品銷售額的30%,高於2019年的12%。然而,高達89%的奢侈品零售商表示數字人才短缺,在數據分析、社交媒體營銷和用戶體驗設計等關鍵領域尤其缺乏人才。

為了在這個競爭激烈的市場中勝出,奢侈品零售商需要重塑人力資源戰略以適應新時代。領先品牌採取的部分策略包括:

• 推出創新培訓項目,提升員工技能和再培訓,重點關注數字能力

• 與教育機構和線上學習平台合作,提供量身定制的課程和認證

• 利用人工智能和自動化工具簡化招聘流程,識別高潛力人才

• 提供靈活的工作安排和個性化的職業發展路徑,以吸引和留住優秀人才

作為專注奢侈品零售的領先高級管理人才搜尋公司,Trouvé Executive一直走在人才趨勢的最前沿。過去一年,我們成功在亞太區為客戶物色並安置了眾多高級管理人才,涵蓋零售運營、採購、市場營銷和供應鏈等職能。憑藉深厚的行業專業知識和廣泛的人脈網絡,我們致力為客戶羅致和吸納頂尖人才。

如欲了解Trouvé Executive如何助您在亞太區建立致勝團隊,歡迎瀏覽我們的網站 www.trouve-executive.com 或電郵 admin@trouve-executive.com 聯絡我們。讓我們攜手共進,引領奢侈品零售業的未來發展。

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