Global Scans · Retail · Weekly Summary

• [New] The expansion of the retail sector and the tourism sector are each expected to create one million jobs for Saudi nationals by 2030. Al Arabiya English
• Economic pressures in the retail industry have continued longer than expected, making the second round of job losses in 2023 necessary. The Globe and Mail
• Amazon's disruption of booksellers and retail has led to as many as 900,000 jobs lost and huge existing-asset obsolescence. Harvard Business Review
• A 20% cut would protect and create over 17,000 retail jobs which might otherwise be under threat and deliver benefits to UK high streets, which rely on the pull of major retailers in order to support other economic activity in their town centres. EMR-NAMNEWS Ltd.
• Warehouse jobs were supposed to be the future of the retail industry, offering opportunities for displaced employees and reshaping the American workforce. Yahoo Finance
• Could add $1.5 trillion to the global economy by 2030, and create millions of jobs across various sectors, such as health care, education, retail and manufacturing. Business Record
• Employment in retail trade is projected to decline by 586,800 from 2020 to 2030, sharply contrasting its increase of 406,800 jobs during the previous decade. U.S. Bureau of Labor Statistics
• As e-commerce continues to grow in popularity, retail trade is projected to lose 368,300 jobs over the 2019-29 decade. Impact Lab
• If the strategy targets are achieved the combined value of agritourism and farm retail in 2030 would be around a quarter of a billion pounds (£250m) and support almost 10,000 full time jobs. Flame Marketing
• Recent economic data releases indicating jobs growth, strong retail sales, and high inflation levels could keep the Fed on track for another interest rate hike in the coming week, despite concerns that the recent banking crisis could have a broader economic impact. Entrepreneur
• The reason mortgage rates are rising again is pretty straightforward: Recent economic data, including strong retail sales and job numbers, suggest it might take longer than expected for the Federal Reserve to tackle inflation. Fortune
• Jobs that have been hardest hit - including service sector positions, retail sales, office support workers - face the greatest risk of transformation due to automation and digitalization. Financial Post
• Reduced commuter footfall, tourism and the shift towards online shopping could lead to significant job losses in face-to-face industries such as retail, hospitality and arts & culture over the coming years. Social Market Foundation
• Amazon's disruption of booksellers and retail has led to estimates of as many as 900,000 jobs lost; but at the same time, Amazon's workforce climbed from 200,000 to 800,000 when Covid hit. Stanford Social Innovation Review
• As one of the fastest-growing industries in America, the Cannabis Industry is booming with exciting job opportunities for the millions of Americans leaving their retail jobs for a better quality of life. Herbies Seeds
• The Equiano cable will improve median download speeds in Nigeria by up to six times, reduce retail data prices by 21%, and create economic activity that will indirectly result in $10 billion added to the Nigerian GDP and 1.6 million new jobs. Rest of World
• The retail and hospitality sectors face a grim start to 2023 - with job losses and store closures likely to rise. Daily Focus
• AVs can expand access to affordable delivery while also creating over three million new jobs by 2035, as retailers and delivery providers expand their services. Railway Age
• Automation and AI will affect millions of jobs in the coming years, and retail is one of the most susceptible industries: for example, 54% of current work activities in retail can be automated. McKinsey & Company
• Workers in transport, manufacturing, and wholesale and retail, and lower in education, health and social work are more likely to lose their jobs to automation by the 2030s. Sapling.ai Blog
• Job opportunities with Amazon make a big difference for entire communities where there are limited options for many people to earn a living, let alone to take the first steps in building their careers within an advanced retail and technology business. EU About Amazon

Last updated: 25 November 2024