UK Could Lose 400,000 Retail Jobs as Pandemic Accelerates Shift to Online Shopping: Report

UK Could Lose 400,000 Retail Jobs as Pandemic Accelerates Shift to Online Shopping: Report
A pedestrian wears a mask as he walks past "Store Closing" signs in the window display of a Debenhams store in Manchester, northern England, on Dec. 2, 2020. Paul Ellis/AFP via Getty Images
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UK towns and cities could lose nearly 400,000 jobs and up to 40 percent of their retail offerings as consumers shift to online shopping due to the impact of the pandemic, a new KPMG research report reveals.

“Online sales have grown by 50 [percent plus] in nine months, accelerating a trend that would have taken five years plus to deliver in normal circumstances,” Paul Martin, head of retail at KPMG in the UK, said in the report published on Thursday.