The forecast for employment in the UK's retail sector for information and communications equipment reflects a consistent decline from 2024-2028, with a decrease from 19,030 full-time equivalents in 2024 to 15,530 by 2028. This denotes an approximate year-on-year reduction of 4.76% annually. The industry, amid structural shifts and consumer trends leaning towards digital retailing, is anticipated to experience a continued downturn, following a compounded annual growth rate (CAGR) of about -4.47% over these years.
Future trends to watch for include the impact of e-commerce and technology-driven efficiencies reducing physical store needs, potential regulatory changes affecting store operations, and evolving consumer preferences increasingly favoring online platforms over traditional specialized retail outlets.
