Page 54 - Regional Employment & Skills Plan

54
4.5 Retail
The retail sector is a significant employer regionally within the region and operates across a number of markets from general retailing to more specific and niche markets.
An issue for concern is the increasing rate of store closures within Wales, this has in part been driven by a change in consumer behaviour and a shift into online shopping. Research from the British retail consortium highlights that up to 29% of stores have closed, or are at significant risk of closing, by 2018 the highest rate in the UK.
2012 - 2018
LONDON SOUTH EASTERN SCOTLAND MIDLANDS NORTH WALES
9
17
22
23
26
26
29
Percentage decline in store numbers by region105 – BRC Retail 2020
The implementation of the living wage has been highlighted as a potential issue for the retail sector which may have a disproportionate effect on areas of low economic growth.
‘£9 per hour by 2020 is forecast to be equivalent to at least 70 percent of median earnings in many other parts of the country and will force employers to consider if they can afford these roles. This will be most acute in regions where economic growth is weakest.’106
The following areas have been identified as skills requirements within the retail sector:
• Customer service skills
• Leadership and management skills
• Digital literacy skills
105 Retail 2020: Fewer but better jobs – BRC 2016 106 Retail 2020: Fewer but better jobs – BRC 2016
Regional Employment & Skills Plan South West & Mid Wales Foundational Economy