The speedy surge in e-commerce sales is fostering the industry’s growth. The growing digital literacy among clients and the advent of e-commerce have revolutionized the face of retail logistics. Such aspects coupled with continuous urbanization and dual-income family units are impacting customer preferences and perspectives around emerging and developed economies. One of the imperative retail logistics market trends involves innovations in the retailing segment. In addition, the increasing penetration of smartphones and growing internet users are assisting the retail logistics market revenue to prolong speedily.
Furthermore, massive growth in the e-commerce industry propels the growth of the retail logistics market. Regulatory challenges and tough geopolitics with respect to increasing protectionism in international trade limit the retail logistics market. The effective growth in urbanization and disposable income of the individuals, coupled with changing consumption patterns deliver opportunities for the retail logistics market during the reviewing duration.
According to SPER market research, ‘Retail Logistics Market by Type (Conventional Retail Logistics and E-Commerce Retail Logistics), By Solutions (Commerce enablement, Supply Chain Solutions, Reverse logistics & liquidation and Transportation Management), By Mode of Transport (Railways, Airways, Roadways and Waterways), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)’ state that the Retail Logistics Market predicted to promulgate owing to the increment in global trade activities in emerging nations and advancement in logistics infrastructure around the world. The global retail logistics market is predicted to rise at a CAGR of over 11.29% during the review period 2021-2027.
Consumers benefit from technological innovations such as intelligent distribution robots and autonomous items and sorting systems, which use in a new era of smart logistics. Owing most of the links in the new retail format have been digitalized and are accessible in real-time, amalgamated with the usage of advanced technologies such as AI, and big data, companies can comprehend the genuine requirements of customers speedier and more accurately. It is also used to assist with supply chain optimization and upgrades.
In addition, to upgrade prevailing retail formats, retail companies and traditional distribution channels must aim at B2B wholesale distribution, B2C e-commerce, self-service vending machines, and O2O. Nonetheless, aspects involving enlarging globalization, an augment in international retailing, and an advancement in the economy owing to augmented tax revenue from goods exported and imported is estimated to assist the retail logistics industry’s growth during the near future. The speedy expansion of retail e-commerce different opportunities for both new and established firms in the market.
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Asia Pacific region registered for the leading market share during the review period. The region’s great customer base for the product lines underwrites the speedy growth of e-commerce services. In addition, regions such as Japan, India, and China are among the leading exporter of goods and account for a proficient portion of global retail e-commerce sales. As a result, the unremitting increasing e-commerce segment in the region is the primary aspect propelling the market growth.
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