The answer to this is yes and no.
If you are ambitious and want to achieve a postgraduate degree then by all means go ahead. There are many entry level jobs now, especially in IT and finance, where a degree is required. Even in retail it is required if you want to reach management levels and further.
If you are happy with a job in retail without wanting to go any further than 'front of shop' then no it is not necessary to study at degree level.
Education is for everyone, how you use your education is up to you.
These days I think the emphasis on achieving higher level education is an expectation for some employers however it varies greatly depending on the industry.