Global Retail Logistics Industry Expected to Hit $388.6 Billion by 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Global Retail Logistics Market by Type, By Solution, By Mode of Transportation, By Regional Outlook, Industry Analysis Report, and Forecast, 2021-2027” has been added to from ResearchAndMarkets.com offer.

The global retail logistics market size is expected to reach USD 388.6 billion by 2027, with the market growing at 10.5% CAGR during the forecast period.

The systematic process of controlling and assuring the flow of goods from the source of supply to the buyer is known as retail logistics. A wide range of products are sold by manufacturers, wholesalers and distributors. This requires the systematic planning of the movement of various products until they are delivered to the buyer or consumer. Through efficient, value-added logistics, Retail Logistics ensures that everything is in place to provide superior delivery and service at lower costs.

Businesses can take advantage of a wide range of features and benefits provided by logistics software. Orders are received from all sales channels, fulfilled and tracking, invoicing, returns and interaction with shipping companies are all possible with this platform. Inventory management is responsible for tracking each manufactured item from the moment it enters the supply chain. This feature allows businesses to decide where to stock and store products.

Multimodal transportation is becoming increasingly popular due to various advantages including fewer customs restrictions, faster freight processing, and lower expenses per vehicle. One of the major market trends is the increasing use of different modes of transportation including the use of ships, trucks, planes, and railcars.

Combining these multi-modal transportation modes can help reduce inventory expenses while keeping freight costs in check. Multimodal transport also helps companies to transport goods efficiently during outbound logistics while reducing transportation expenses.

COVID-19 Impact Analysis

The ongoing COVID-19 pandemic has wreaked havoc on the global economy in three ways: by hampering profitability, directly affecting production and demand, and depleting financial reserves and cash flow. The COVID-19 pandemic is having an equal impact on retail logistics companies. Due to labor shortages and supply chain issues in the early stages of the pandemic (Q1 and Q2), the industry suffered a slight setback. Later, as consumers preferred online shopping to in-store shopping, the increase in online ordering weighed on the transportation and logistics departments of retail logistics companies.

Currently, companies have already started trying to return to normal, but they are facing many obstacles both at the consumer level and at the operational level. Meeting customer expectations for process optimization, growing security concerns of connected networks, increased connectivity challenges, and declining industrial and retail operations are just a few of the challenges. between them.

Market Growth Factors:

Increased integration of drones and smart glasses in transport vehicles

The integration of drones and smart glasses in transportation vehicles has improved the flexibility and speed of delivery, which is expected to have a positive impact on the growth of the retail logistics market over the projection period. In both urban and rural settings, self-driving vehicles, self-driving vehicles, and trucks are able to maintain high reasonableness and same-day delivery.

Increase the integration of advanced technologies

Artificial intelligence, blockchain, machine learning and other modern technologies are expected to be widely implemented in the retail industry. Improved data management, personalized experiences, predictive analytics, and real-time assistance are all benefits of AI. Other AI applications, such as chatbots, virtual assistants and others, help retailers stay in touch with their customers. This increases the profitability of the business by notifying customers of promotions and sales.

Marketing Restriction Factor:

Change in customer behavior following the COVID-19 pandemic

After being in total lockdown for more than three months, retail is struggling to get back on track. Retail, like other customer-centric industries, depends on customer behavior and engagement, and it struggles to keep up with lockdown-induced changes in customer behavior. Along with declining revenues, retail is suffering from a data shortage.

Scope of the study

Market Segments Covered in the Report:

By type

  • Conventional retail logistics and

  • E-commerce retail logistics

By solutions

  • Supply Chain Solutions

  • Enabling trade

  • transport management

  • Reverse logistics and liquidation and

  • Others

By mode of transportation

  • Roadways

  • Railways

  • Waterways and

  • Airlines companies

By geography

  • North America

  • WE

  • Canada

  • Mexico

  • Rest of North America

  • Europe

  • Germany

  • UK

  • France

  • Russia

  • Spain

  • Italy

  • The rest of Europe

  • Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Singapore

  • Malaysia

  • Rest of Asia-Pacific

  • LAMEA

  • Brazil

  • Argentina

  • United Arab Emirates

  • Saudi Arabia

  • South Africa

  • Nigeria

  • Rest of LAMEA

Main market players

  • Kintetsu World Express, Inc. (APL Logistics Ltd.) (Kintetsu Group Holdings Co., Ltd.)

  • AP Moller – Maersk A/S

  • DSV A/S

  • Deutsche Post DHL Group

  • FedEx Corporation

  • Kuehne + Nagel International AG

  • Nippon Express Co., Ltd.

  • XPO Logistics, Inc.

  • United Parcel Service, Inc.

  • CH Robinson Worldwide, Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/ix24up.

Norma A. Roth