What Is The Overview Of The Global Retail Logistics Market?
Retail logistics refers to the process of managing the flow of goods and services from the point of origin to the point of consumption in the retail supply chain. It includes all actions connected to organizing, carrying out, and managing the storage, forward and reverse movement, and efficient handling of related information between the place of origin and the site of consumption of goods and services in order to satisfy consumer demands.
Retail Logistics Global Market Report 2024 provides data on the global retail logistics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The retail logistics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Retail Logistics ?
The retail logistics sector has experienced rapid expansion, growing from $221.92 billion in 2023 to $241.33 billion in 2024, with a CAGR of 10.2%. This growth is fueled by globalization, e-commerce, and urbanization. The market is forecasted to reach $357.81 billion by 2028, with a CAGR of 10.3%, driven by efficient order fulfillment, urban population growth, and higher disposable incomes. Trends shaping the future include robotics, last-mile delivery innovations, sustainability, and omnichannel integration.
What Are The Leading Drivers Of Growth In The Retail Logistics Market?
The growth of the retail logistics market is driven by the expanding e-commerce sector. E-commerce encompasses all transactions made electronically over the internet and is growing due to greater internet penetration, the convenience of online shopping, and more payment options. Retail logistics in e-commerce ensures efficient storage, management, and delivery of goods, improving customer satisfaction through accurate and timely order fulfillment. A 2021 report by the International Trade Administration projected that e-commerce for consumer goods would represent around 22% of total retail sales by 2024, growing steadily at an average rate of 1% annually.
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How Are The Segments Defined Within The Global Retail Logistics Market?
The retail logistics market covered in this report is segmented –
1) By Type: Conventional Retail Logistics, E-Commerce Retail Logistics
2) By Solution: Commerce Enablement, Supply Chain Solutions, Reverse Logistics And Liquidation, Transportation Management, Other Solutions
3) By Mode Of Transport: Railways, Airways, Roadways, Waterways
How Are New Trends Expected To Influence The Growth Of The Retail Logistics Market?
Companies in the retail logistics industry are developing advanced solutions, such as location intelligence, to offer enhanced features and better customer service. Location intelligence utilizes geographic data to provide valuable insights for decision-making. For example, Delhivery, an India-based logistics company, launched LocateOne in September 2023, an API-driven location intelligence tool designed to improve address data accuracy, particularly for rooftop precision and fraud prevention. This solution aims to streamline operations in sectors like retail, commerce, fintech, banking, and financial services.
Which Region Drives The Highest Growth In The Retail Logistics Market?
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.
