Turning "Red Sea" Market Competitions into "Blue"

Challenge
Our client is a market leader in luxury retail with flat ship stores in Hong Kong, mainland China and Singapore. With intensifying competition in Asian markets resulted in increasing number of new comers, particularly the global luxury retail brands, our client had been losing its market share and leading position. To differentiate itself by creating higher value to its VIP customers (with minimum US$100,000 per shopping basket), our client pioneered the "Personal Shopping Consulting Services" in 2006.

Solutions
Our consultant remedied the situation firstly on the organization development level, charting out a strategic structure to support the personal shopping consulting  services launch. Then, the required competency models for two new strategic positions namely Director of Personal Shopping Consulting Services and Personal Shopping Consultant were profiled. Our consultant helped recruit the right talents, who have extensive exposure in lifestyle and consumption habits of high network individuals and celebrities such as hosting and dressing up for super-luxury and red carpet banquet, for the official capacity of Director and 10 Personal Shopping Consultant within three months. We did our Talent Mapping with the client and identified the target talents not among key competitive players but mainly from other sectors such as Private Banking. We managed to fill all the key positions with highly motivated and competent talents within a given period of time and budget.

Results
The Personal Shopping Consulting services shocked the market with their business and service innovations. The shopping basket size of VIP customers has been doubled within the first year of service launch. Key competitors found it difficult to compete with because it is not a product that they can procure in a short time but the talent acquisition and management model that can support the business.