Friday, August 19, 2016

Post-online jobs report: 1.2 million fewer retail workers

Internet sellers such as Amazon, eBay and Newegg are so good at what they do that there are 1.2 million fewer people working in the retail industry now than would be the case if online stores didn’t exist, an analysis suggests.

J.P. Morgan analyst Michael Feroli says online sellers are so much more productive at selling goods than brick-and-mortar stores that there’s less need for workers. Sales revenue per online employee is more than four times as high as what a traditional retail worker generates: $1,267,000 vs. $279,000.. . . more

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