DUBLIN–(BUSINESS WIRE)–The “Global Retail Logistics Market By Type, By Solution, By Mode of Transport, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Retail Logistics Market size is expected to reach $388.6 billion by 2027, rising at a market growth of 10.5% CAGR during the forecast period.
The systematic process of controlling and ensuring the flow of goods from the source of supply to the buyer is known as retail logistics. A vast range of products is sold by manufacturers, wholesalers, and distributors. This necessitates the systematic planning of diverse commodities’ movement till they are delivered to the buyer or consumer. Through effective logistics and added value, retail logistics guarantees that everything is in place to provide superior delivery and service at reduced costs
Companies can get profit from 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 firms are all possible with this platform. Inventory management is responsible for tracking each manufactured item from the time it enters the supply chain. This feature allows companies to make decisions about where to stock and store products.
Multimodal transportation is becoming more popular as a result of various advantages, including fewer customs restrictions, faster freight processing, and lower per-vehicle expenses. One of the main market trends is the increasing usage of different modes of transportation, which includes the use of ships, trucks, planes, and railcars.
Combining these multimodal modes of transportation can assist reduce inventory expenses while also keeping merchandise costs under control. Multimodal transportation also aids businesses in efficiently transporting goods during outbound logistics while lowering transportation expenses.
COVID-19 Impact Analysis
The ongoing COVID-19 pandemic has wreaked havoc on the global economy in three ways: by hampering profitability, hurting production and demand directly, and depleting financial reserves and cash flows. The COVID-19 pandemic has an equal impact on retail logistics companies. Due to the labor shortage and supply chain problems in the early stages of the pandemic (Q1 and Q2), the industry faced a slight setback. Later, as consumers preferred internet shopping over in-store, the rise in online orders put a burden on retail logistics companies’ transportation and logistical services.
Currently, businesses have already begun to try to get back to normal, but they are confronting numerous obstacles on both consumer and operational level. Meeting client expectations in terms of process optimization, growing security concerns about connected networks, increased connectivity challenges, and a drop in industrial and retailing operations are just a few of them.
Market Growth Factors:
Increase in the integration of drone & smart glasses in transportation vehicles
The integration of drones and smart glasses into the transportation vehicles has enhanced pliability and delivery speed, which is expected to positively impact on the growth of the retail logistics market over the projection period. In both urban and rural settings, self-driving vehicles, autonomous vehicles, and trucks are capable of maintaining high reasonableness and same-day delivery.
Increasing Advanced Technology Integration
Artificial intelligence, Blockchain, machine learning, and other modern technologies are expected to be widely implemented in the retail sector. Improved data management, tailored experiences, predictive analysis, and real-time support are all benefits of AI. Other AI applications, such as chatbots, virtual assistants, and others, help retailers stay in touch with their customers. This boosts company profitability by updating customers about promotions and sales.
Marketing Restraining Factor:
Change in Customer Behaviour following the COVID-19 pandemic
After being under complete lockdown for over three months, the retail industry is finding it difficult to get back on track. Retail, like other customer-driven industries, hinges on client behavior and engagement, and it’s having trouble keeping 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:
- Conventional Retail Logistics and
- E-Commerce Retail Logistics
- Supply Chain Solutions
- Commerce Enablement
- Transportation Management
- Reverse logistics & liquidation and
By Mode of Transport
- Waterways and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Kintetsu World Express, Inc. (APL Logistics Ltd.) (Kintetsu Group Holdings Co., Ltd.)
- A.P. 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.
- C.H. Robinson Worldwide, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ix24up.
Laura Wood, Senior Press Manager
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