250,000 High Street jobs could be axed as more Brits shop online during coronavirus crisis
Credit: AlamyRetail guru Richard Hyman said: “If you think there are 9.5million people on furlough, 250,000 redundancies is quite a reasonable number. Pre-pandemic online sales accounted for 30 per cent of non-food sales. That will rise to 40 per cent, which means hundreds of thousands of job losses.
“Lockdown has been the catalyst, not the cause. Big firms like John Lewis have needed to shut stores for years. Fifteen years ago online shopping wasn’t really used, now it’s worth £70billion.Most read in UK NewsHOME COMFORTUK virus death toll rises by 148 - double last Saturday after lockdown easesGran who lied she was blind for £1MILLION in benefits is 'craftiest woman ever'A source warned: “Boots and John Lewis are just the start.
“Virtually every retailer has too many stores. Timing is everything but this is a good moment to blame a long-term trend away from the high street on the virus.” Prof Joshua Bamfield, of the Centre for Retail Research, said closures announced to date are the tip of the iceberg. He added: “All big retailers will be having talks as to how many stores they really need open in 2021.”Don't miss the latest news and figures - and essential advice for you and your family.
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