New York (US), May 24, 2023 (GLOBE NEWSWIRE) -- Retail Logistics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Retail Logistics Market Information by Type, Solution, Mode of Transport and Region - Forecast till 2030", The market for retail logistics can surge from USD 260.1 billion in 2023 to USD 667.4 billion by 2032, at a rate of 12.50% from 2023 to 2032.
Market Scope
The MRFR study covers various key segments, such as all the major retail logistics companies, logistics in retail industry, retail logistics management, retail logistician, logistics in retail as well as retail logistics solutions.
Logistics in retail industry has become a vast entity and will continue to burgeon in the coming years. Consumers of today anticipate a quick and simple interaction with the brand. This entails coming to them precisely where they are and providing them with the shopping and travel options they desire. Retail logistics simplifies the various steps of the ecommerce supply chain, from monitoring inventory movement to making sure consumers receive goods on time, to keep the firm running smoothly. On the other hand, retail logistics management is a component of the supply chain that covers a variety of responsibilities, such as maintaining stock storage, controlling product sales, and order fulfilment.
A retail logistician plays a very critical role in the industry. They oversee and manage customer service, logistics, warehouse operations, and transportation while directing, maximizing, and coordinating the whole order cycle. Additionally, they communicate and bargain with customers, manufacturers, retailers, and suppliers.
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Market Competitive Landscape:
The important major retail logistics companies include
- DSV
- XPO Logistics Inc.
- Kuehne+Nagel International
- C.H Robinson Worldwide Inc.
- FedEx
- APL Logistics Ltd
- Nippon Express
- Schneider
- United Parcel Service
- A.P Moller- Maersk
- DHL International GmbH.
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 667.4 Billion |
| CAGR | 12.50% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Solution, Mode of Transport, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increasing use of smartphones and e-commerce services, and quick delivery facility provided by the retail logistics |
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Market USP Covered:
Market Drivers:
The market can anticipate notable growth as a result of rising global commercial activity, particularly in developing nations, and the construction of the global transportation infrastructure. The retail logistics system guarantees that both durable and non-durable goods reach customers without incident. Also, as a result of logistics, the retail sector now has a greater chance to concentrate on customer service rather than administrative tasks and shorter delivery times, cheaper fulfilment costs, and other benefits.
The level of international competition among retailers has surged as a result of growing globalization. International merchants must contend with severe rivalry when opening new locations in growing nations like Asia Pacific. As a result, economic activity is increasing, and travelling across regions is becoming simpler. As a result, there is a greater need for retail and logistical services to expedite product delivery. By raising tax money through the import and export of goods, which stimulates market expansion, international retailing aids nations in enhancing their economies. Similar to how there are more trade and e-commerce options available to international retailers thanks to the expanding use of the internet.
The popularity of multimodal transportation has grown significantly as a result of decreased vehicle prices, shorter cargo handling times, and looser customs regulations. One of the important developments in the market for retail logistics is the propensity to choose from a variety of modes of transportation. A combination of trucks, ships, railcars, and aircraft are used in this process. Inventory operators can reduce inventory costs and keep merchandise costs under control by integrating this multimodal transportation. During outbound logistics, multimodal transportation aids merchants in the quick and inexpensive transfer of goods.
Additionally, it is anticipated that the retail logistics industry would grow quickly as a result of the last-mile delivery method used in the retail e-commerce market. Distributors and brick-and-mortar businesses are at a disadvantage since customers may compare products from different internet sources based on delivery times, prices, features, specifications, and compatibility requirements. The retail e-commerce business is growing as a result of these benefits over brick-and-mortar establishments, and this trend is expected to last for the foreseeable future.
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Market Restraints:
One of the key challenges limiting the market's growth is a lack of adequate infrastructure in the retail logistics production supply chain.
COVID 19 Analysis
The COVID-19 outbreak impacted logistics in retail, retail logistician, retail logistics companies, logistics in retail industry, retail logistics solutions, and retail logistics management.
The operation of the retail industry has been impacted in a number of ways by the significant changes in the external environment brought on by COVID-19. Due to the crisis, there are now noticeable differences in how different business operations work.
The retail industry is a major player in the economy; on average, it employs one in every twelve people in OECD countries and contributes over 5% of GDP. It also primarily meets consumer demand, making it a key player in value chains as a supplier to households and a market for upstream industries. It frequently enhances operations in other industries that have been negatively impacted, like tourism. Additionally, the retail industry is particularly labor-intensive, so any disruptions have an outsized impact on employment. This has meant a notable slowdown in the growth rate of the retail logistics industry.
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Market Segmentation
By Type
Retail logistics is segmented into two types: traditional retail logistics and e-commerce retail logistics. With a revenue share of almost 60.3% in 2022, the traditional retail logistics category had the biggest revenue share. Because they rely less on the internet and prefer to shop in traditional retail stores, customers use traditional retail logistics services more frequently, which accounts for the high percentage.
By Solution
Reverse logistics & liquidation, Supply chain solutions, Transportation Management, and Others are the subsectors of the retail logistics market segmentation based on solution. The supply chain solutions category had the highest revenue share of over 33.9% in 2022, and it is anticipated that it would maintain its leadership throughout the forecast period.
By Mode of Transportation
The retail logistics industry is segmented into Roadways, Railways, Airways, and Waterways, with respect to the mode of transportation. Roadways accounted for approximately 51.5% of total income in 2022, and it is expected that they will continue to dominate during the forecasted period.
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