Over the last decade, E-commerce has gone through an explosion in popularity thanks to the internet’s vast potential to connect people, places, and things. It’s being seen as a pillar of our economy that is growing faster than anybody expected. Sales for E-commerce are projected to reach $550 billion by the end of this year, an 80% increase from 2010.
What does this mean for logistics companies and retailers alike?
As this market continues to grow with no signs of slowing down, the effects will be felt across the board. Retailers will need to expand their distribution networks, relying on their use of 3PL partners. These new agreements will reach beyond just leveraging logistics companies more, but will also drive the need for fulfillment centers closer to the products ultimate destination.