As we embark on the second half of 2024, the Asia Pacific recruitment market is witnessing unprecedented growth, particularly in the luxury retail, cosmetics, and watch & jewellery sectors. With the region's GDP projected to grow by 5.2% in 2024, according to the International Monetary Fund, businesses must develop data-driven strategies to attract and retain top talent in this highly competitive landscape.
In Hong Kong, the luxury retail sector is expected to experience a remarkable 9.5% growth in H2 2024, with sales projected to reach HKD 95 billion (USD 12.2 billion). This growth is driven by the city's status as a global luxury hub and its ability to attract high-net-worth individuals from mainland China and beyond. To capitalize on this growth, companies must invest in building a strong employer brand and offer competitive compensation packages, with the average annual salary for a luxury retail manager expected to reach HKD 850,000 (USD 109,000) by the end of 2024.
China, the world's second-largest economy, is expected to maintain its dominance in the luxury retail, cosmetics, and watch & jewellery markets, with a projected market share of 58% in H2 2024. The country's luxury goods market is expected to grow by 12% in 2024, reaching CNY 1.2 trillion (USD 186 billion), according to Bain & Company. To succeed in this highly competitive market, businesses must develop a deep understanding of Chinese consumer preferences and invest in local talent acquisition teams. The average annual salary for a senior marketing manager in the luxury sector is expected to reach CNY 800,000 (USD 124,000) by the end of 2024.
Southeast Asian countries, such as Singapore, Malaysia, and Thailand, are emerging as the new growth engines for luxury retail, cosmetics, and watch & jewellery. With a combined projected market share of 20% in H2 2024, these countries are expected to see a 15% growth in the luxury goods market, reaching USD 25 billion by the end of 2024. To tap into this growth, companies must develop culturally sensitive recruitment strategies and invest in local talent. The average annual salary for a regional sales director in the luxury sector is expected to reach SGD 250,000 (USD 186,000) in Singapore by the end of 2024.
The cosmetics industry in the Asia Pacific region is expected to witness a staggering 18% growth in H2 2024, with sales projected to reach USD 140 billion. This growth is driven by the increasing demand for premium skincare products, the rise of e-commerce, and the influence of social media on consumer behavior. To stay ahead of the curve, companies must recruit talent with expertise in digital marketing, data analytics, and product innovation. The average annual salary for a digital marketing manager in the cosmetics industry is expected to reach USD 90,000 in Japan and USD 85,000 in South Korea by the end of 2024.
The watch & jewellery sector in the Asia Pacific region is expected to grow by 7% in H2 2024, with sales projected to reach USD 65 billion. The increasing popularity of luxury smartwatches and the growing demand for sustainable and ethically sourced jewellery are driving this growth. To succeed in this market, companies must focus on recruiting talent with expertise in product design, customer experience, and supply chain management. The average annual salary for a product development manager in the watch & jewellery sector is expected to reach USD 120,000 in Hong Kong and USD 110,000 in Singapore by the end of 2024.
As the Asia Pacific recruitment market continues to evolve and present new opportunities, companies must remain agile, data-driven, and committed to building a diverse and inclusive workforce. By leveraging market insights, investing in digital transformation, and fostering a culture of innovation and continuous learning, businesses can attract and retain the best talent in these dynamic industries. We encourage our readers to share their thoughts and experiences on the recruitment market outlook for H2 2024 in the comments section below, and to visit our website at www.trouve-executive.com for more information on recruitment trends and collaboration opportunities in the Asia Pacific region.
把握亞太區招聘市場的增長機遇:2024年下半年奢侈品零售、化妝品及鐘錶珠寶行業的數據分析
踏入2024年下半年,亞太區招聘市場正經歷前所未有的增長,特別係奢侈品零售、化妝品同鐘錶珠寶行業。根據國際貨幣基金組織的預測,亞太區的本地生產總值將喺2024年增長5.2%,企業必須制定以數據為導向嘅策略,先可以吸引同留住呢個競爭激烈嘅市場入面嘅頂尖人才。
喺香港,奢侈品零售業預計將喺2024年下半年錄得9.5%嘅顯著增長,銷售額預計將達到950億港元(122億美元)。呢個增長係由香港作為全球奢侈品中心嘅地位同吸引中國內地同其他地區高淨值人士嘅能力所帶動。為咗把握呢個增長機會,企業必須投資建立強大嘅僱主品牌,同埋提供具有競爭力嘅薪酬待遇,預計到2024年底,奢侈品零售經理嘅平均年薪將達到85萬港元(10.9萬美元)。
中國作為全球第二大經濟體,預計將繼續喺奢侈品零售、化妝品同鐘錶珠寶市場保持主導地位,2024年下半年嘅預計市場份額為58%。根據Bain & Company嘅報告,中國嘅奢侈品市場預計將喺2024年增長12%,達到1.2萬億元人民幣(1,860億美元)。為咗喺呢個競爭激烈嘅市場取得成功,企業必須深入了解中國消費者嘅喜好,並投資發展本地人才招聘團隊。到2024年底,奢侈品行業高級市場營銷經理嘅平均年薪預計將達到80萬元人民幣(12.4萬美元)。
東南亞國家,如新加坡、馬來西亞同泰國,正成為奢侈品零售、化妝品同鐘錶珠寶嘅新增長引擎。呢啲國家喺2024年下半年嘅預計市場份額為20%,預計到2024年底,奢侈品市場將增長15%,達到250億美元。為咗把握呢個增長機會,企業必須制定適合當地文化嘅招聘策略,並投資發展本地人才。到2024年底,新加坡奢侈品行業區域銷售總監嘅平均年薪預計將達到25萬新加坡元(18.6萬美元)。
亞太區化妝品行業預計將喺2024年下半年錄得18%嘅驚人增長,銷售額預計將達到1,400億美元。呢個增長係由高端護膚品需求增加、電子商務嘅崛起以及社交媒體對消費者行為嘅影響所帶動。為咗保持領先地位,企業必須招聘具備數碼營銷、數據分析同產品創新專業知識嘅人才。到2024年底,日本化妝品行業數碼營銷經理嘅平均年薪預計將達到9萬美元,而韓國則為8.5萬美元。
亞太區鐘錶珠寶業預計將喺2024年下半年增長7%,銷售額預計將達到650億美元。奢華智能手錶嘅日益普及,以及對可持續發展同合乎道德嘅珠寶需求不斷增加,成為帶動呢個增長嘅原因。為咗喺呢個市場取得成功,企業必須專注於招聘具備產品設計、客戶體驗同供應鏈管理專業知識嘅人才。到2024年底,香港鐘錶珠寶業產品開發經理嘅平均年薪預計將達到12萬美元,而新加坡則為11萬美元。
隨住亞太區招聘市場不斷演變並帶來新嘅機遇,企業必須保持敏捷、以數據為導向,並致力建立一支多元化同包容性嘅優秀員工隊伍。透過善用市場洞察、投資數碼轉型,以及培養創新同持續學習嘅企業文化,企業就可以吸引同留住呢啲充滿活力行業嘅最佳人才。我哋歡迎讀者喺下面嘅評論部分分享佢哋對2024年下半年招聘市場前景嘅想法同經驗,並瀏覽我哋嘅網站 www.trouve-executive.com,了解更多有關亞太區招聘趨勢同合作機會嘅資訊。
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