Yuri Milner: 40 Million Retail Jobs Are Going To Disappear
Kim Bhasin|Sep. 22, 2012, 8:03 AM
BusinessInsider.com
Russian internet investor Yuri Milner had an ominous prediction for the retail industry and its many workers at a conference earlier this week in Ukraine.
He said that there will be “a pretty significant job loss in the retail sector to the tune of 40 million jobs in the next 20 years," according to Chrystia Freeland at Reuters.
What's going to cause that?
Milner estimates that right now, 6 percent of retail sales is done on the web, but that number will spike to 20 percent in the next decade. It will be 50 percent in two decades, he said.
More: http://www.businessinsider.com/yuri-milner-retail-jobs-disappear-2012-9#ixzz27D3nfxJ8
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