Banking executives might learn something from this. As the distribution of retail goods has shifted from store-based to online, the productivity of retail employees has soared. In particular, while goods consumption has risen by a not-immaterial 8%, retail employment has actually fallen slightly. Have a look:
As banks shift their own distribution frameworks to online and mobile from branch-based, they should shoot for similar types of productivity gains. If they can do that, their shareholders will be very, very happy.