The forecast for employment in the UK retail sector for music and video recordings shows a consistent decline. From 2.05 thousand employees in 2024, it is expected to drop to 1.09 thousand by 2028, reflecting an approximate Compound Annual Growth Rate (CAGR) of -16.2%. The year-on-year decline shows a steady decrease: 12.2% from 2024 to 2025, 13.3% from 2025 to 2026, 15.4% from 2026 to 2027, and 17.4% from 2027 to 2028.
Future trends to watch for include:
- Increasing digital consumption of music and video content
- Potential shifts in consumer behavior due to technological advancements
- Impact of online streaming services on traditional retail store employment
- Changing market dynamics influenced by new distribution platforms
