Weekly Retail & Leisure News - 29 February, 2016
rate of change to employment in the retail industry is likely to accelerate
over the next 10 years as the digital revolution continues to reshape the
sector. A recent report from the BRC concludes that with the burden of business rates rising,
the cost of labour going up and the cost of technology decreasing, there could
be up to 900,000 fewer jobs in the retail sector by 2025. However, while the
number of jobs may decrease, they will likely be of greater quality as the
sector is forced to become more productive, and retailers successfully tackle
the challenges they face.
This report release coincides with new data released by IMRG showing that for
the first time, the majority of UK ecommerce sales are now conducted through
smartphones and tablets, highlighting the on-going digitalisation of the
sector. In addition, the UK Cards Association announced this week that more than
1bn contactless purchases were made last year. This is a direct result of more
retailers offering contactless payment options, speeding up the transaction for
In other news last week, Morrisons has announced that its grocery products will
be available to order from Amazon. The UK’s fourth biggest supermarket said the
deal would allow Amazon Prime Now and Amazon Pantry customers access to its
products in the coming months. According to Tim Vallance,
Head of UK Retail and Leisure “we are seeing a general shift away
from approaching physical retail space and online sales as separate entities.
Shopping is now simply seamless: it's about obtaining goods: whether online or
offline, through clicks or bricks, via multi or omni-channel, it is now simply
other areas of retail, an element of experience can be thrown in to the mix to
attract customers away from their sofas, but grocery shopping has almost always
been won through convenience."
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838