1. Electronic Commerce Growth Creates Tremendous Opportunities globally for logistics and warehousing
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- China, Hong Kong (China), and the United Kingdom had the greatest GDP-related B2C e-commerce, while India, Brazil, and Russia had the lowest.
- Globalization has increased the amount and diversity of cross-border transactions in services and products by facilitating the rapid and broad transfer of technology. This has driven the trends in the global cross-border B2C e-commerce market.
- Current e-commerce technologies make it simpler for businesses to reach scattered audiences by lowering administrative and marketing expenses.
- The COVID-19 pandemic resulted in an increase of 9.5% annually, or more than 4 billion people, in the number of Windividuals shopping online in 2020. The rising trend was anticipated to continue in 2021. Following fashion in popularity are toys, hobbies, technology, and media in the e-commerce sector.
2. Rising Interest in Omni-channel drives the Global Market
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- As large online retailers build physical stores, the omni-channel supply chain has expanded dramatically.
- Intelligent retail solutions are now implicitly demanded by the informed customer. Via diverse retail venues, distinct consumer groups purchase and select goods that suit their requirements and way of life.
- As a result, businesses have realized that expanding consumer options and streamlining the purchase process boosts revenue. As they work to boost B2C and B2B e-commerce, medium and big businesses will use the term “omni-channel retail” as their catchphrase.
3. An Increasing Number of SKUs:
The ever growing number of iPhone SKUs
- Trends towards stocking more SKUs are being driven by rising consumer expectations. Warehouse managers fear their clients would switch to a supplier who will carry a slow-moving item if they don’t stock it.
- A change away from maintaining a lean inventory to keeping additional supplies on hand, just in case, is also being brought about by the supply chain disruptions brought on by the epidemic.
- More flexible and customizable fulfilment solutions are required as a result of changing customer behaviour and an increase in available SKUs.
Analysts at Ken Research in their latest publication “Global Logistics and Warehousing Market Outlook to 2028- Driven by the Rising Demand from Manufacturing, F&B, Retail, and other industries along with increasing Government Initiatives to Strengthen the Logistics Infrastructure” observed that Global Logistics Market is in a growing phase. Increasing demand for food, beverages, and manufacturing products in Global and Government support to improve transport facilities are some of the factors that will contribute to the Global Logistics market growth over the period of 2023-2028. It is expected that Global Logistics Market will grow at a positive CAGR for the above-forecasted period.
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