Hong Kong retail salaries are expected to rise in 2017 – but by a modest amount.
In its annual Greater China Salary Guide 2017, manpower agency Adecco has predicted a pay rise of between 3 per cent and 5 per cent for retail workers this calendar year – about the same as its estimate for last year.
The projection is based on analysing its database of vacancies from its client base of about 600 companies across retail, finance and banking, marketing and logistics, among other categories.
Adecco said the number of jobs in retail working with luxury brands has declined along with the sector’s sales over the last two years. But those roles are being replaced by new opportunities with a proliferation of mid-market and affordable luxury brands taking over spaces once leased by jewellery, watches and high-end fashion brands.
“Instead of selling their products through distributors like Lane Crawford, some of these brands have decided to go for their own stores,” says Henry Chu, practice manager of the retail sector with Adecco. “We have a number of affordable retail brand clients planning to expand in 2017.
“They are also looking for talent who have experience in eCommerce and customer relations management.”
Chu says a lot of salespeople working for luxury brands were pressurised into meeting sales targets last year – and some were expected to meet 2015 targets.
A small number of sales managers in luxury retail have changed career, moving into the insurance industry.
Audrey Low, Adecco Hong Kong and Macau MD, says employers across all industries have adopted a more cautious approach in searching for the right talent. “Apart from making the interviewing process more complex and raising the standards for the skills and attitude to work required, this has also led to an increasing number of enterprises choosing not to fill their vacancies.”