A thorough awareness of the market and the requirements of a company in this sector in China is necessary for the complex process of executive search for the latter. Strong leadership is more crucial than ever as the sector expands, and many businesses are turning to expert executive search agencies to assist them in finding the ideal CEO.
Data on the Retail Sector
With expected retail sales of $5.1 trillion in 2020, China will likely remain the largest retail market in the world. The need for executive expertise is increasing as the sector develops further. Due to this tendency, businesses in China’s consumer, retail, and luxury industries must find the right leadership to successfully navigate through difficult times and compete in the country’s highly competitive market.
Executive Search Services:
Working with a seasoned executive search firm has its benefits, one of which is their access to a broad network of potential candidates. Several executive search companies have access to large worldwide talent pools as well as huge databases of executives with industry experience. This enables managers to find potential employees who may not be actively seeking a new position but who nonetheless might be a good fit for the business.
Executive search firms are in charge of not only locating possible candidates but also screening them to make sure they are a suitable fit for the business. This involves conducting interviews, looking over references and resumes, and running background checks. You can be sure a executive search firm is seeking the finest applicant for the job by collaborating with them.
According to recent data, China’s demand for senior talent in the consumer, retail, and luxury industries is growing. Despite the COVID-19 pandemic’s negative economic effects, the demand for CEOs in China’s consumer and retail industry surged by 5% in 2020, according to a report by Korn Ferry. This reflects the value businesses in this industry place on selecting the best leadership to guide them through trying times.
The growing emphasis on e-commerce is another trend that is fueling the demand for executive talent in China’s consumer, retail, and luxury industries. Companies in this industry need leaders who have experience and skill in digital transformation given the advent of online shopping and mobile payments. By 2023, e-commerce is anticipated to represent 52% of China’s retail revenues, according to a McKinsey report. Companies in the sector will therefore require CEOs who can spearhead digital innovation and successfully combine online and physical channels.
Executive Search: China’s Consumer, Retail & Luxury Sectors
If your organisation is seeking a CEO with the strategic depth to lead consumer, retail or luxury operations in China — balancing brand, scale, digital transformation and local market dynamics — our Executive Search team can support you. Contact us to discuss your leadership needs with discretion and precision.
