That's reasonable, but we're talking about more than just 24/7 retail here. Even in the days before the 24 hour grocery store, restaurants and bars were open on Friday and Saturday nights (and most evenings, for that matter), and I don't believe those folks received higher pay.
Don't get me wrong, I think the U.S. 24/7 retail economy is bonkers, but I'm not sure it's reasonable to just bless 9-5 as the official time of economic activity. In the 1990s, I ran a climbing gym, and typically worked 3pm-11pm (or some variation of that) Monday through Friday. I kinda liked that schedule, as it allowed me to be more productive with "life" stuff because I could accomplish things before I went to work.