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THE CHANGING LANDSCAPE AFFECTING THE RETAIL MARKET
2023 has witnessed a decline in consumer confidence and spending, primarily due to the highest inflation rates observed in over two decades. This has had a significant impact on the retail sector, as employees continue to seek workplace flexibility in order to adapt to the evolving workforce landscape.
The retail industry is also witnessing a significant adoption of data science and AI, influencing short-term pricing decisions, promotional strategies, and long-term considerations such as procurement, supply chain management, and store operations.
To stay ahead in this changing landscape, it's crucial to have the right talent and strategy in place. Contact our Retail team for expert advice and assistance in finding the best talent and developing effective retention strategies.
Insights into the current Retail Merchandise & Operations job market:
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Retail insights
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Retail leadership
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Embrace contract workers
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FY24 hiring trends
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Candidate priorities
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Salary insights
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And more...
Retail insights
In 2023, consumer confidence and spending took a hit due to the highest inflation rates seen in over twenty years. Despite a growth in retail sales, this increase was fueled by price inflation and population growth, resulting in a decrease in sales volume.
Retail leadership
In the midst of an ever-changing landscape, the retail industry finds itself navigating through uncertain times driven by economic volatility. This presents a significant challenge that is expected to have a lasting impact on retailers in the coming year. To address these difficult conditions, CEOs are prioritizing the modernization of supply chains and the enhancement of operational efficiencies.
Embrace contract workers
Many companies have seasonal products or seasonal peak demands. An ideal seasonal structure identifies a core group of permanent staff combined with a flexible workforce contingent.
Attract passive candidates
While candidates are often receptive to new opportunities, passive candidates are being approached multiple times per week by different recruiters, making it vital to connect personally with relevant and compelling offers. Make sure your Employee Value Proposition (EVP) is appealing.
FY24 hiring trends
The tight job market has led to downsizing in some businesses. So economic decisions will drive businesses to optimize and upskill their workforce, focus on change management and agility in the next 6-12 months.