Companies such as Amazon, eBay and Newegg, are so good at what they do, that there are now 1.2 million fewer employees in the sector of retail sector today.
Analysts from JP Morgan suggests, online sellers are so much more productive in sales, that they just don't need so many workers. Revenues from sales of an online sales person is four times higher than what a traditional retail worker: $ 1,267,000 against $ 279,000.
But this does not mean that online shopping has destroyed 1.2 million jobs. From JP Morgan said that simply switching to Internet sales has increased productivity to such a point that companies can manage with fewer employees.
Changes in retailing are nothing new. The same process has played for decades in other key segments of the US economy, such as agriculture and manufacturing. The US produces more food and goods than ever, with far fewer workers.
In 2016, the percentage of Americans who work in retail slipped to 11% from 11.6% in 2000. It hasn’t been that low since 1975, Bureau of Labor Statistics data show.
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