Retail

Retail Jobs May Not Be In Jeopardy Yet

Year after year, the retail industry typically welcomes a new influx of workers across all of its verticals.

In the past few years, some in the industry have likely had a growing concern due to the continual brick-and-mortar closings around the country. As it turns out, retail industry jobs are actually seeing growth and better pay in the e-commerce arena.

Progressive Policy Institute of Washington economist Michael Mandel highlights how this new retail sector will benefit workers. He said “If this new pattern continues, it will raise real wages across the economy and rejuvenate the middle class.”

Since 2007, e-commerce has added nearly 400K jobs across the country which is double all other retail category hires. Although research shows 8,000 brick-and-mortar stores will likely close this year, e-commerce fulfillment centers from the likes of Amazon and Wal-Mart are popping up which is likely helping to offset any employment concerns.

Although Cornerstone Capital Group is estimating 7.5 million retail jobs are at stake, e-commerce fulfillment centers are showing a $12K pay increase from $31,000 to $43,000 annually. While brick-and-mortar locations may be closing, these warehouse positions are likely going to result in a revitalization of manufacturing positions that were once the bedrock of American workers.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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