As stated in our extensive report, the Global Retail Logistics Market accounted forUSD 219.5 Billionin 2021. Retail Logistics is an organized process that manages the flow of goods from the source of the goods to the delivery of the goods to the customer. The major retailers on the market supply several products that require systematic planning of the movement of multiple items until they are delivered to the customer. Retail Logistics ensures that everything is organized and that they can provide better delivery services at relatively low prices through efficient logistics services.
Demand for Retail Logistics has increased significantly, primarily due to increased global trading activity in developing countries. The development of logistics infrastructure is expected to support the growth of the Retail Logistics Market. The Retail Logistics system enables a smooth and efficient flow of durable consumer goods from various reputable retailers and suppliers to their customers.
In addition, logistics in the retail industry have enabled the rapid delivery of products at low fulfillment costs. Increasing demand for retail e-commerce services is expected to drive the growth of the Retail Logistics industry over the forecast period. The E-Commerce platform allows customers to compare products from multiple online sources based on specifications, prices, delivery times, features, and compatibility requirements. Retail Logistics services help retailers deliver these products efficiently within their allotted time.
Asia Pacificis a front runner in the Global Retail Logistics Market in 2021 and is expected to maintain its run over the next few years. This is mainly due to the significant development of logistics infrastructure, especially in emerging countries such as China, India, South Korea, Australia, Singapore, and other Asian countries. For example, a framework agreement has been signed between Cambodia`s Ministry of Public Works & Transport (MPWT) and Singapore-based YCH Group Pte Ltd to develop the Phnom Penh Logistics Complex Project.
Some of the notable and prominent players in the Global Retail Logistics Market include- XPO Logistics Inc., DSV, Kuehne + Nagel International AG, C.H. Robinson Worldwide Inc., Nippon Express and others.