Employment levels will take a significant hit if forecasts are correct regarding a reduction in jobs in the retail sector. It is envisaged that one of the most significant employers in the UK (the retail sector), could experience the loss of approximately 900,000 jobs in the next 10 years.
This isn’t unsurprising given the way the sector is continuing to evolve, becoming ever more competitive, tighter margins with more and more emphasis being placed on the online offerings.
This can only be detrimental to employment levels overall and in turn impact the UK economy.