Retail Logistics Market Size to Garner USD 622 Billion Revenue by 2030 Fueled By Increased Worldwide Trade Activity

The Global Retail Logistics Market size accounted for USD 231 Billion in 2021 and is estimated to reach USD 622 Billion by 2030.According to our global retail logistics market forecast, the rapid surge in e-commerce sales is propelling the industry’s growth. Rising digital literacy among customers and the advent of e-commerce have revolutionized the face of retail logistics. Such factors coupled with constant urbanization and dual-income family units are impacting consumer preferences and perspectives across developed and emerging economies. One of the important retail logistics market trends includes advancements in the retailing sector. Furthermore, the growing penetration of smartphones and increasing internet users are supporting the retail logistics market revenue to expand rapidly.

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COVID-19 Impact on Global Retail Logistics Market

The ongoing COVID-19 pandemic has made a huge impact on the global economy in three different ways: it has hampered profitability, has directly harmed production and demand, and has depleted sufficient capital and cash flows. The COVID-19 pandemic affects retail logistics companies in the same way. After being completely shut down for over 3 months, the retail industry is struggling to get back on track. Retail, like other consumer industries, is dependent on customer behavior and engagement, and it is struggling to keep up with lockdown-induced changing customer behavior. Retail is struggling from a data shortage in addition to declining revenues.