Increasing Demand from B2B and B2C Sectors – A boon for E-Commerce Logistics Market
E-commerce logistics or elogistics is a crucial part of the overall supply chain and is defined as the technique that a brand utilizes to ensure an online order is safely and securely delivered to the consumer within the estimated time of arrival. After an online purchase is made by the shopper, the e-commerce logistics department takes care of the entire order process from packing, shipping, and delivery. Additionally, in case of a glitch or a technical error wherein the order is not satisfactory for the customer and he/she wants to return it, the return and refund process is also handled by this sector. With the current COVID19 pandemic and the increasing popularity of online purchases, the e-commerce logistics market is projected to witness exponential growth on a global level.
Technological advancements are changing the logistics and transportation industry. With the fast decline of the great street and offline shopping becoming a relic of times gone by, the pressure has been put on transport and logistics companies to up their game to keep up with the demand of online shopping. The increasing adoption of e-commerce logistics from both B2B and B2C sectors is likely to aid in favor of the global market in the coming years. This is further expected to attract new entrants to the market competition who appear with innovative business models to indulge in tough competition with the already existing players.
The economic development of emerging nations such as Brazil, India, and others has created lucrative growth opportunities for the overall e-commerce logistics market as well. The rise in disposable incomes of people, coupled with the increase in sales of smartphones and rising inclination towards internet connectivity will drive this market. This is further attributed to the booming beauty and fashion industry that has propelled the adoption of a trendy lifestyle. This ultimately demands more clothes, makeup, shoes, and other material products. The easy availability of fashionable outfits, accessories, and products is likely to further augment the growth of this market in the coming years.
