WASHINGTON - As the country marks Labor Day 2017, the rapidly-changing face of the retail industry is coming into focus.
Legacy retailers like Macy’s, J.C. Penney and Sears continue to close stores at an aggressive clip. Shopping malls are seeing increasing vacancies as some smaller stores either give up or pivot to an online-only model.
Now, with Amazon moving into the brick-and-mortar sector as it takes over Whole Foods Markets, some are wondering what sort of impact it could have on employment numbers.
Nearly 5 million Americans worked in retail sales in 2014 (the last year those numbers were released by the Bureau of Labor Statistics). Could Amazon’s continued ascent as the online retailer of choice soon cut into those jobs?
On “The Final 5,” Jim Lokay spoke with John Ziegler, a radio talk show host and columnist for Mediaite, whose Labor Day piece, “Why Aren’t We Talking About The Impact of Amazon?,” posed that very question.
- How will billionaire mogul Jeff Bezos further reshape the retail landscape?
- Why is there not similar outrage as to when Walmart affects smaller businesses when it moves into a new market?
- What’s next, and will consumer habits ever change?
In the video player above, you can watch John Ziegler's interview with Jim Lokay on "The Final 5."