Online shopping is having a massive impact on the retail property market, boosting demand for built-to-suit warehouses to support e-retailing, according to research published by Goodman Group.
Online shopping is having a massive impact on the retail property market, boosting demand for built-to-suit warehouses to support e-retailing, according to research published by Goodman Group.
The research indicates online shopping now accounts for almost a fifth of all purchases in developed markets and is growing by between 15% and 20% a year. The growth rate in developing economies is far higher, with China for example experiencing around 75% growth a year.
The study was commissioned by Goodman and carried out by Transport Intelligence, a provider of research on the logistics industry.
Goodman has published highlights from the study in a white paper entitled 'Logistics of Online Shopping - Where the Real Opportunities Lie'. The document contains the latest statistics and insights gained from canvassing the opinions of e-retailers, logistics companies and developers.
The report showed that at a time when retail sales in many markets have been sluggish, internet retailing has grown rapidly and this shift in consumer attitude has brought enormous benefits to the global logistics market. With growth in excess of 10% per annum in developed economies and more than 30% per annum in many less developed areas, e-tailing is at present in the rapid growth phase, with little sign of levelling off, the report said.
Goodman Group's CEO Greg Goodman said, 'The report's findings confirm that there is strong demand for high quality, built-to-suit warehousing solutions amid the rapid growth in this sector. This presents a range of opportunities for property groups like Goodman, who understand local market dynamics and have the specialist expertise and experience to respond to the specific property needs of individual e-retailers and third party logistics providers.'
