The present scenario demonstrates that the consumer-packaged goods (CPG) market is overflowing with new products. Manufacturers, retailers, and marketers are hunting innovative ways to manage supply chains. However, such a scenario also requires a planned strategy for picking up the product from the point of receiving to delivering it to the end user. Perceptively, an effective retail logistics effortlessly streamlines this flow of goods from sources to supply. Against this backdrop, retail logistics are gaining exceptional momentum and is expected to reach sound maturity in the upcoming years. Penetration of advanced technology including IoT in the domain anticipates further growth of retail logistics market. With a large percentage of consumers preferring traditional purchase from retail stores after inspecting product physically, the retail logistics market is likely to witness robust growth over the study period.
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Integration of Smart Glasses to Facilitate Expansion of Higher Propensity to Purchase Goods from Traditional Retail Stores
The integration of smart glasses is projected to sustain the growth of the global retail logistics market. Smart glasses have improved the portability and delivery speed in the supply chain process. Owing to precise and positive results, smart glasses and augmented reality devices are expected to replace the existing technology solutions within the enterprise supply chain. Furthermore, the utilization of such technology the supply chain by organizations has resulted in significant increments in efficiency, productivity, and compliance. In addition to this, the rate of errors, re-work, and risk has also been reduced to a notable level. This has led to greater revenue generation by improving order fulfilment rates, delivery speed, and ultimately, customer satisfaction.
Efficient Last Mile Delivery to Unfurl Substantial Business Opportunities in Retail Logistics Market
With the rise in the number of e-commerce firms, efficient last-mile delivery has become a key aspect that differentiates businesses from their competitors. Businesses across major industries including drugs, food, and beverage are targeting to achieve same-day delivery. Manufacturers are adopting drones and self-driving vehicles to ensure speedy delivery. The high cost associated with the labor for last-mile delivery is another factor promoting the shift towards robotic deliveries. As drone technology continues to mature and become more cost-effective, the delivery networks will become decentralized. All these efforts to execute an efficient last-mile delivery are anticipated to boost the global retail logistics market growth over the forecast period.
Asia Pacific Significant in Retail Logistics Market with Rapid Technological Advancements
Asia Pacific is anticipated to hold a lion’s share in the global retail logistics market. This can be mainly attributed to the introduction of automation in certain aspects of the supply chain. Additionally, the expansion of internet infrastructure and the development of international logistics networks are also auguring well for the regional market. Moreover, the implementation of transformation strategies and continuous improvement in logistics infrastructure across major economies will create positive dynamics for the retail logistics market in Asia Pacific.
Prominent Market Players
Some of the major players in the retail logistics market include FedEx, XPO Logistics, Inc., DSV, DHL International GmbH, Kuehne + Nagel International, C.H. Robinson Worldwide, Inc., United Parcel Service, Nippon Express, APL Logistics Ltd, Schneider, and A.P. Moller - Maersk.
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