During the first half of 2014, the number of advertised vacancies in Luxury Retail jumped by a massive 76%, according to figures from RetailChoice.com. Recruitment for store management and sales assistant roles in the Luxury sector more than doubled in the six months to June 2014, indicating the Luxury sector is performing strongly on the high street.
The figures also found that jobs in Luxury are the most in demand in retail, with applications up 131% compared to last year. Competition for high quality candidates to fill store management positions may also explain why the number of roles advertised in the £20-25K salary bracket increased by 45%.
Overall, in the first half of 2014, the number of advertised retail staff positions across all retail sectors grew by 32%. Demand for sales advisors dominated retail staff recruitment activity, with adverts up 6.6% compared to this time last year. For the first time since June 2012 demand for retail management positions also increased (advertised management roles were up 5% compared to the previous half year).
According to Neil Brodie, Sales Director, RetailChoice.com:
“As the UK continues its journey to a brighter economic future, consumer confidence and spending is on the up, especially in the Luxury sector. Additionally, more and more tourists from countries such as China are coming to the UK to spend big in the UK’s most upmarket shopping areas. For some retailers, this growth is driving a return to recruitment activity. But longer term, senior management need to look to the future as they recruit staff that can be developed to handle the increased demands of a sector that’s once again in growth.”
Salaries: on a downward trend
Luxury is bucking the salary squeeze trend. Advertised salaries for retail managers and staff in this sector are 25% higher compared to retail as a whole, indicating that Luxury retailers are willing to pay a premium for the right profile of candidate. Overall salary levels for the retail sector fell by 5%.
A regional analysis reveals that salaries for all job positions were higher in London, compared to the rest of the UK. This differential was most marked in retail management and merchandising, with jobs in London attracting salaries up to £10K higher than in the regions.
Neil Brodie, Sales Director, RetailChoice.com adds:
“Increasing optimism, resulting from sustained improvements in the economy, is stimulating an upswing in retailer recruitment activities. But 24 months of restricted opportunities in the retail sector has seen potential talent turning to employment outside this sector.
To maximise talent pipelines, retailers will need to adapt their recruitment strategies to appeal to the next generation of talent. The competition for quality candidates is set to intensify as the retail sector ramps up for future growth. They must also appeal to a new generation of talent: the millennials. Results focused, millennials expect immediate recognition and opportunities for both personal and professional growth. Employers who are seen as progressive, supportive and open-minded are more likely to get the millennial workers they need.”
