The warehousing industry has seen a solid growth pattern with demand increasing by 87 per cent in 2017 and 77 per cent in 2018. The demand further increased well in 2019 and in the beginning of 2020. However, a global pandemic followed by nationwide lockdown brought many industries and activities to a halt.
The global outbreak of coronavirus has given a new direction to consumerism. People are willingly moving to ecommerce and there is a growing adaption of omnichannel distribution by many companies. To prop the business up, these organizations are finding better alternatives to overcome the increased demand in the best possible manner. They are working on increasing their workforce to fill in the gaps. But most of all, the need for warehousing and logistic spaces is growing now than ever before. With this increased demand, empty retail and wholesale spaces could expect to be renovated as warehousing and logistics spaces.
Warehouses are, as of now, confined to a state’s borders and far away from their customer base. With social distancing becoming the new normal in a post lockdown world, people will be more inclined towards the need for online deliveries of essential as well as non-essential items. Thus, retailers will have to make sure their warehousing area are closer to their customers prompting faster deliveries. This might give the necessary nudge to the whole micro warehousing industry, that has been around the corner but has not taken off, especially in India.
According to experts, warehousing and logistics spaces will bounce back the strongest in the post-lockdown period. In order to understand why there will be a shift in the most robust real estate vertical of India, read on further.
The future is promising for the warehousing and logistics industry.
Ecommerce space is in its fullest form right now with everything accessible is just one tap on your cell phone. The growing demand for warehousing and logistics spaces to store large quantities of essential items is noticeable, particularly in a country like India. In fact, this is just the beginning. The demand for more such spaces is going to increase in the coming years as experts have put it, ‘the logistics and warehousing sector of India’s retail space is going to get bigger in 2020 and afar.’
Warehousing in India is gradually turning into a well set up segment with probably the greatest land engineers, financial specialists becoming a part of this. Warehousing real estate of India seem to become the next massive wave of expansion with major brands and real estate investors taking interest in this fragment for profitability. A vast majority of the Indian real estate sector believes that warehousing and logistics spaces will attract a lot of business.