The Centre for Retail Research suggests that 50,000 stores could close their doors within five years

UK forecast to lose additional 400,000 retail jobs over next five years

The doom and gloom surrounding the UK High Street is set to continue as analysts predict further job losses and store closures.

First reported by The Independent, the Centre for Retail Research has forecast that 400,000 retail jobs will be axed throughout the next five years, whilst 50,000 stores are likely to close their doors.

The downturn for UK High Street retail is fuelled by the growth of online, as figures suggest that a fifth of all shopping will be done online within five years time.

Whilst the shift from the High Street to the web is generating new jobs in areas such as logistics, distribution and postal services, it is at the cost of the UK’s fleet of retail workers.

The article summaries that whilst shopping will undoubtebly become more online orientated, the High Street can continue to survive by embracing its future as a destination for services, particularly within the entertainment sector.

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