Retail logistics is an organized process for managing the flow of goods from sources to customers. Products from manufacturers, wholesalers and intermediaries through warehouses, transport to retailers and customers.
Report Global retail logistics market 2017-2027 of Research and Markets survey the retail logistics market based on factors of type, mode of transport and region. Accordingly, the report forecasts that the global retail logistics market size will reach $388.6 billion by 2027 with a growth rate of 10.5% CAGR.
Specifically, on the basis of type, the retail logistics market is divided into conventional retail logistics and e-commerce retail logistics. The e-commerce retail logistics market holds a significant revenue share in 2020 and is expected to continue to grow in the future.
This growth is explained by the impact of the pandemic causing sales on e-commerce platforms to skyrocket. In addition, the popularity of the Internet combined with the convenience of free returns, fast delivery, low shipping costs and a wide variety of goods contribute to the growth of commercial retail logistics. e-commerce.
Modes of transport in the retail logistics market are divided into rail, air, road and waterway. To date, road transport has accounted for the highest proportion in the retail logistics market with a turnover of over 100 billion USD.
Due to the need to use road transport vehicles to transport retail products over long distances, especially for the domestic market, trucking has become a good choice for retail logistics businesses. At the same time, the increase in the proportion of road transport is also due to the advantages of capacity and growth-promoting policies from the governments of some countries.
By region, the report of Research and Markets market survey Europe, Asia – Pacific, North America and LAMEA (including Latin America, Middle East and Africa). Specifically, the Asia-Pacific market is the fastest growing region in the global retail market and will reach 112.1 billion USD by 2027.
The expansion of e-commerce and large population size make Asia – Pacific continue to maintain the leading revenue in the period 2017-2027. In addition, the markets of India, Japan, China and Australia are among the top 10 exporting countries and account for a significant proportion of retail e-commerce revenue worldwide. As a result, the remarkable growth of the e-commerce industry in some countries leads to growth in retail logistics across the region.
Also according to the report, the North American market is expected to have a CAGR of 10.3% during the period 2021-2017 and the European market to achieve a growth of 10% in the same period.
Analyzing the impacts leading to the growth of the global retail logistics market, Research and Markets said that the increased integration of drones helps to improve the flexibility and speed of delivery thereby positively impacting the growth of the retail logistics market during the projected period.
In addition, the application of advanced technology such as artificial intelligence, blockchain, machine learning allows to increase revenue. However, some of the negative effects of changing customer behavior after the pandemic also impacted the revenue of the global retail logistics market.
Hong Thao (follow Research and Markets)
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