In Singapore, the retail sector plays a pivotal role in the nation's economy, contributing
approximately 1.4 percent of the GDP and employing 3% of the total workforce. Despite its economic significance, the retail industry faces unique challenges in recruiting and retaining top talent.
Singapore's thriving technology and finance sectors offer alluring career opportunities in alternative fields, leading to the misconception that retail roles offer limited growth potential and social status. The retail industry encountered significant hurdles, including
transformative fatigue, workforce shortages, and demands for upskilling. This perception makes it challenging for retailers to attract and retain top candidates.
However, the retail industry has been transforming. Retail roles have been continually evolving and the sector has been developing exciting career paths. Disruptive business models and cutting-edge tech were two out of four forces that Workforce Singapore (WSG) identified to be reshaping the sector.