Randstad Singapore’s 2023 job market and salary outlook report includes key labour trends and employer insights on salaries, bonuses, hiring outlooks and talent expectations. Download the full report for more information to guide your talent attraction and workforce planning strategy for 2023.

Pinched with the hiking prices caused by factors like inflationary pressures, cost-conscious consumers may soon cut back their spending on luxury goods. However, that does not mean that Singaporeans are no longer spending. Instead, they are shifting their expenditure to services like travel, beauty, hospitality and retail.

Faced with rising customer expectations, fast-moving consumer goods (FMCG) and retail companies are looking for professionals with skill sets in areas such as strategic marketing, digital marketing, and customer analytics.

retail and FMCG market and salary trends in singapore 2023
retail and FMCG market and salary trends in singapore 2023

These talent trends are not entirely new to the industry and employers have been working hard to attract talent who are equipped with these critical skills for a few years now. The only difference in 2023 is that employers are streamlining their workforce and focusing their hiring process efforts on creative and digitally-skilled talent to secure a larger market share.

converging online and offline experiences

Undoubtedly, online platforms offer FMCG and retail companies an additional channel to reach a wider pool of potential customers.

FMCG and retail companies are already harnessing advanced analytics tools to collect and analyse large quantities of customer data, ranging from location data, online behaviour, customer engagement and purchase history.

The next step for companies is to use the massive amount of data they have collected and analysed to develop smarter and more targeted marketing strategies. Companies are expected to review their omnichannel marketing strategies to find ways that they can create greater synergy between the different sales and marketing teams.

There will be a steady demand for professionals related to online and customer-business engagement. Talent with experience in analytics software, CRM, digital e-commerce, omnichannel marketing and performance marketing will also be sought after.

The ideal situation would see organisations seamlessly integrate their strategies and processes so that customers can receive the full brand value and experience from every touchpoint.

in-demand retail and FMCG jobs in singapore 2023
in-demand retail and FMCG jobs in singapore 2023

in-demand talent in retail and FMCG

Here are the most in-demand professions in retail and FMCG industries in 2023:

  • Customer and data analysts - analyse data to give stakeholders and teams more insights and information about the customer and product performances
  • Commercial planners, category managers and pricing analysts - evaluate commercial and product data and predict customers’ future purchasing behaviours
  • Community managers - improve customer experience through the management of influencers and customers on digital platforms
  • Operations accounting and finance analysts - develop automated accounting systems to process large volume transactions and provide customer purchasing insights to the sales and marketing teams

download the randstad singapore’s 2023 talent and salary outlook report

The 2023 Talent and Salary Outlook report looks at talent analysis and new salary benchmarks in the following industries:

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