As a result of lockdown, across Europe, growth in online retail sales in May was 35% higher than one year ago, as per reports. The ongoing growth in online retail has been surging as consumers of all ages have embraced online shopping. A surge in online spending directly results in increased demand for warehouse space.
Reportedly, the European logistics market is expected to grow by $217.5B (approx €183.2B) during 2020-2024 progressing at a CAGR of 3% during the forecast period.