Indian Ecommerce Retail Logistics Industry To Grow 36 percent By 2023
The Indian Ecommerce retail logistics industry is expected to grow 36% in the next 5 years, according to a joint report by CIL and KPMG.
The fierce competition among Ecommerce players to emerge as market leaders has pushed improvement of all kinds of allied services to stand ahead in the competition. Ecommerce players are trying to ensure speedy delivery of products. This directly impacts the logistics department. Ecommerce retail logistics industry is developing and digitizing at a fast speed. Rapid Ecommerce growth in retail and other segments has brought multiple third-party logistics operators forth and are revolutionizing the disorganized Indian logistics industry into a digitized and systematic arena. Few years ago, logistics were considered as the biggest challenge in Ecommerce with the overall cost, reliability of the courier, payment modes, and reach in terms of a geographical area as some of the prime issues.
Today, logistics is perceived as an important link between customers and e-tailers. In fact it is a key distinguisher of Ecommerce players. All this has pushed Ecommerce retail logistics market to grow. Valued at $35 billion in 2018, Ecommerce retail logistics industry is likely to witness significant growth in the near future. Traditional logistics service providers, e-commerce retail focused logistics service providers and captive logistics arms service the sector at present.
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