Collaboration between people and technology that maximises the strengths of bothby Helen Dickinson / March 22, 2017 / Leave a comment
Retail isn’t the first industry to spring to people’s minds when they think about the bleeding edge of automation and technology, perhaps because it is so woven into the fabric of our everyday lives. The fourth industrial revolution will affect individual sectors very differently. However, for two reasons retail is a bellwether industry for the future of work.
Firstly, British retail is one of the most competitive industries in the world. It is incredibly responsive to the consumer. What people want to buy and how they want to do so is continually changing. The industry responds and as a result the nature of retail jobs change; the supermarket and the whole idea of self-service groceries is an innovation from the 1950s. The same need to respond and innovate has driven the UK’s supremacy in e-commerce. Online counts for about 15 per cent of sales here and the value of that is higher than almost any other country in the world.
Things are still changing month by month. Multichannel retailers are already finding that people are differentiating less and less between buying online and in store, they just want the item that they purchase to work. For them the future of shops may be partly showroom, partly collection point, partly a space to hold events and provide experiences and services that you can’t get from an online competitor.
Secondly, the retail industry is the largest UK private sector employer—employing almost three million people, one million of whom are under 24. The changes to jobs in retail will affect people more than any other industry, and in many cases these will be people just starting their careers.