Sales job market trends in 2024 are expected to reflect advances in technology, changes in customer behavior, and shifts in the global economy.
The Oil and Gas group has opportunities as oil prices are forecast to remain high in 2024 thanks to (1) industrial production on the rise, mainly driven by China’s efforts to loosen policies to boost growth, and (2) tight supply as geopolitical tensions continue.
The Export group, including seafood and textiles, has opportunities as consumer demand in major export markets (US, Europe, China) gradually recovers and retailers increase imports.
The Steel group can benefit from recovering exports. Profit growth is due to improved margins as selling prices edge up but input material prices (iron ore, coke) fluctuate slightly or remain flat and optimize inventory.
The Chemicals group, with global semiconductor demand expected to increase sharply by +20.2% in 2024 (vs. +10% previously forecast) due to the increasing trend of using AI products and computer/phone inventories returning to normal levels in the second half of 2024.
The Residential Real Estate group is still negatively affected by the gloomy situation of the residential real estate market that has lasted longer than expected due to bottlenecks in legal mechanisms and unsolved capital sources (the Draft Law on Land has not been approved yet…). Very few housing projects are licensed for construction or for sale, primary and secondary prices have not fluctuated strongly while investors have promoted discount policies, leading to narrowing profit margins.
The retail group with the Electronics-Phones business segment is said to be in a saturated phase, the Electronics segment is also negatively affected by the housing market, increasingly fierce competition causing pressure on revenue growth and profit margins.
The last negative group is the fertilizer group when the El Nino phenomenon is forecast to increase in the last months of 2023 and early 2024, negatively affecting crop cultivation activities, especially rice – accounting for 50% of the total cultivated area in Vietnam, reducing the demand for fertilizer. Fertilizer prices in 2024 are forecast to be stable compared to 2023 thanks to abundant supply
Technology is having a big impact on the Sales industry. Artificial intelligence (AI), big data and machine learning are being applied in the sales process, from analyzing customer information to creating personalized sales strategies. CRM (Customer Relationship Management) tools are also widely used to manage customer information and enhance sales performance. Technology brings new opportunities and changes the way of working in the Sales industry.
(The article is referenced from news sources on the Legal Life page)
Although the Sales industry is full of potential, it also poses challenges. The Sales job market is highly competitive, so candidates have to compete with others to get the desired position.