PUBLISHER: The Business Research Company | PRODUCT CODE: 1582583
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582583
Retail logistics involves managing the flow of goods and services from their point of origin to their final point of consumption within the retail supply chain. It encompasses all activities related to organizing, executing, and overseeing the storage, forward and reverse movement, and efficient handling of information associated with the goods and services, ensuring they meet consumer demands.
The primary types of retail logistics are conventional retail logistics and e-commerce retail logistics. Conventional retail logistics involves managing the flow of goods from manufacturers to physical retail stores, including transportation, warehousing, and inventory management. It offers a range of solutions, such as commerce enablement, supply chain solutions, reverse logistics and liquidation, transportation management, and more. This type of logistics utilizes various modes of transport, including railways, airways, roadways, and waterways.
The retail logistics market research report is one of a series of new reports from The Business Research Company that provides retail logistics market statistics, including retail logistics industry global market size, regional shares, competitors with a retail logistics market share, detailed retail logistics market segments, market trends and opportunities, and any further data you may need to thrive in the retail logistics industry. This retail logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retail logistics market size has grown rapidly in recent years. It will grow from $221.92 billion in 2023 to $241.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to factors such as increased globalization, the expansion of the retail e-commerce sector, rising economic activity, the growth of the retail logistics industry, and the increasing use of smartphones.
The retail logistics market size is expected to see rapid growth in the next few years. It will grow to $357.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth during the forecast period can be attributed to the need for efficient order fulfillment, effective coordination of suppliers, growing urban populations, regulatory constraints, and rising disposable income. Key trends in the forecast period include the adoption of robotics, innovations in last-mile delivery, sustainability initiatives, omnichannel integration, and same-day and hyperlocal deliveries.
The growth of the retail logistics market is anticipated to be driven by the expanding e-commerce sector. E-commerce includes all commercial transactions conducted electronically over the internet. This sector is experiencing growth due to increasing internet access, the convenience of online shopping, and the expansion of digital payment options. Retail logistics in e-commerce focuses on the efficient storage, management, and delivery of goods, which enhances customer satisfaction through timely and accurate order fulfillment. For example, a report published by the International Trade Administration in October 2021 projected that e-commerce for consumer goods would account for approximately 22% of total global retail sales by 2024, with an average annual growth rate of over 1%. Additionally, global retail e-commerce sales are expected to grow steadily at a rate of 8% through 2024. Consequently, the expanding e-commerce sector is propelling the growth of the retail logistics market.
Major companies in the retail logistics market are developing technologically advanced solutions, such as location intelligence tools, to enhance customer service with advanced features. A location intelligence solution leverages geographic data to offer insights and analytics for making informed business decisions. For example, in September 2023, Delhivery, an India-based logistics company, introduced LocateOne, an API-driven location intelligence stack that improves address data quality and accuracy, particularly by enhancing rooftop precision and reducing fraudulent activities across sectors such as retail, commerce, fintech, banking, and financial services. Delhivery highlights its cutting-edge solution, supported by patented address disambiguation and identification technology, as a key driver of operational excellence in commerce. The company views its OS1 platform as essential for establishing itself as the operating system for commerce, offering businesses significant opportunities for streamlined operations.
In July 2023, Swiggy, an India-based online food ordering and delivery service, acquired LYNK for an undisclosed amount. This acquisition allows Swiggy to enter India's food and grocery retail market, one of the largest and fastest-growing markets globally. Following the acquisition, LYNK intends to rapidly expand its platform by leveraging Swiggy's technological and logistical expertise. LYNK is an India-based provider of retail logistics services.
Major companies operating in the retail logistics market are United Parcel Service Of America Inc., FedEx Corp., DHL International GmbH, A.P. Moller - Maersk AS, Delhivery Pvt. Ltd., DSV AS, C.H. Robinson Worldwide Inc., Nippon Express Co. Ltd., Expeditors International of Washington Inc., J.B. Hunt Transport Services Inc., Ryder System Inc., GXO Logistics Inc., XPO Logistics Inc., Lineage Inc., Americold Logistics Inc., APL Logistics Ltd., Blue Dart Express Ltd., Rhenus Logistics Sarl, ACT Fulfillment Inc., Freight Tiger, Safexpress Pvt. Ltd., NTC Logistics Pte Ltd., Avg Logistics, Secured Delivery Services, Ark India
North America was the largest region in the retail logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retail logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retail logistics market includes revenues earned by entities by providing services such as warehousing and distribution, order fulfillment, supply chain visibility, and vendor management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retail Logistics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retail logistics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retail logistics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail logistics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.