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UK high streets may lose 400,000 jobs post COVID-19: KPMG

20
Jan '21
Pic: KPMG
Pic: KPMG
Main shopping streets in UK may further lose more than 400,000 jobs after the pandemic gets over, as citizens there continue to work from home and buy online, according to KPMG, which recently said the pandemic has already ravaged the UK retail sector, with thousands of jobs being lost and big-name bankruptcies, although supermarkets have boomed.

"The reduction in commuter footfall (and) the accelerated shift to online shopping is exacerbating the vacuum in city and town centres, with less people calling in to shop," said the KPMG study of 109 towns and cities.

"According to KPMG analysis, high streets could lose between 20-40 percent of their retail offerings... This could see over 400,000 job losses on the high street," global newswires reported.

KPMG UK chief economist Yael Selfin said consumers were more likely to purchase household goods online in the wake of the pandemic.

"It has also made working from home acceptable and online gatherings... freeing endless hours of business travel and expense for better use," KPMG added.

Fibre2Fashion News Desk (DS)


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