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Global e-commerce logistics expected to grow by 7.9% in 2023

As an international freight services provider with a significant commitment to e-commerce logistics, U-Freight notes that the global e-commerce logistics market shrank by 5% in 2022 but is expected to moderate and grow by 7.9% in 2023, according to market research consultancy Ti Insight.In its latest report - Global E-commerce Logistics 2023 - Ti’s data reveals that the e-commerce logistics market shrank in 2022 due to slowing demand, as well as the effects of the war in Ukraine, inflation, disrupted global supply chains and depressed consumer spending.However, this should not detract from the fact e-commerce remains firmly entrenched in buying behaviours, and the market remains larger than pre-pandemic. The report from Ti – a leading provider of market research to the global logistics industry – shows that the market is expected to grow by 7.9% in 2023 as e-commerce continues on its long-term growth trajectory.Paul Chapman, Ti’s senior editor, said “The e-commerce logistics market experienced a significant spike in growth during Covid lockdown. These figures should therefore be viewed as a rebalancing of demand, as opposed to anything negative. Indeed, the e-commerce logistics market is ahead of where it was in 2019 by some measure. E-commerce sales, the main driver of demand, remain higher than pre-covid levels, as pandemic buying behaviours continue to influence consumer spending choices and e-commerce volumes subsequently grow from a higher base than pre-pandemic, despite a slowing global market and conflict in Europe.”Report highlights:- Total e-commerce logistics market shrunk by 5% in 2022- Growth in the global e-commerce logistics market is expected to moderate and grow by 7.9% in 2023 according to Ti’s latest data. Although y-o-y growth is expected to exhibit a slower pace than the extraordinary highs of 2020 and 2021 (2020: 28%, 2021: 19.9%) in the face of a softer macroeconomic outlook, the market is expected to recover its 2022 losses, reaching a value of EUR451,239.3 million.- North America’s e-commerce logistics market has surpassed Asia Pacific, and is now the largest, with a value of EUR162,458.8 million.- Parcel shops and lockers have grown significantly in recent years. It is estimated that there are more than 1.8 million pudo locations globally of which 1.2 million are parcel shops. Pudo networks continue to be expanded and new networks are being rolled out in most countries. A high percentage of the global population are now within a short distance of one or more pudo locations.- Growth and consolidation has run rampant in the eFulfilment market since the pandemic’s beginning as traditional 3PL providers have sought to acquire e-commerce logistics capabilities to provide either direct-to-consumer fulfilment or omnichannel solutions for clients.- Funding for select e-commerce logistics start-ups slowed in 2022 amid a pronounced economic downturn and several macroeconomic headwinds.- Automation is rapidly becoming a key success factor in e-commerce logistics by enabling increasingly quick fulfilment and distribution.For more information about the U-Freight Group’s international freight and logistics services and e-commerce fulfilment operations, please speak to your usual contact in our company.