Retail stores will lead the demand for jobs in 2024 as brands formerly taking up space in 2023 begin working this year. As per Gi Group, a recruitment solutions firm centered in Milan, the demand for retail jobs spiked by 18 per cent in 2023 and is predicted to stay within the 15-20 per cent range this year.
A major segment of retailers, about 52 per cent, plan to onboard recent graduates, while 38 per cent intend to recruit skilled professionals, as shared in the report.
Sonal Arora, the Country Manager at GI Group Holding, highlighted the continuous expansion of retailers, particularly in Tier-2 and 3 cities, pushed by India’s large consumer market and the arrival of new companies. Sustainability initiatives are taking traction, with 40 per cent of retailers accepting energy-efficient store designs, opening to refinements in brand perception (47 per cent) and competitive advantage (40 per cent).
The research shows that e-commerce is on a path of exponential growth, estimated to reach Rs. 26 trillion by 2030 from its present market size of Rs. 8.2 trillion. This quick expansion underlines the mounting significance of digital commerce in India’s economy.
Moreover, the post-COVID-19 era saw a prominent surge in retail consumption, largely driven by Gen Z and women, who contributed to 42 per cent of this growth. Their developing preferences and shopping habits encouraged innovation and adaptation across the retail sector.
Yet, challenges continue amidst this growth. The report emphasises the vital need for skill development, with 83 per cent of retailers sharing a desire to bridge skill gaps in sales/marketing, followed closely by logistics (77 per cent) and technology/analytics. Taking care of these gaps is crucial for supporting development and competitiveness in an ever more digital marketplace.
