Robots are coming for retail jobs.
In-store automation threatens to kill four in 10 positions in the retail sector throughout the next decade, according to a new study.
That could add up to 7.5 million lost jobs—proportionally a much bigger hit than even manufacturing took when automation devastated its labor market, according to Cornerstone Capital Group, the bank behind the report.
It’s not as if retail workers don’t have enough to keep them up at night. Hundreds of store employees have lost their jobs over the past few years as online shopping and excess store space plunge the traditional retail industry into choppy waters.
Just today, Sears said it would add 30 more store closures to the 150 the beleaguered department store announced earlier this year.
Many analysts say the industry is headed for an even worse bloodbath.
In that environment, stores are looking to advances like checkout kiosks and self-returning carts to streamline operations and compete with high-tech rivals, further compounding worker woes.