The future of logistics is reshaping itself post pandemic. The age of Covid has brought unforeseen challenges to business, yes, but also amazing opportunities. And nowhere is this statement more appropriate than in our logistics industry. Some opportunities are obvious, others require a little reading between the lines and making the most of data. And then, there are also warnings to take action for business continuity and plain survival.
We’ve compiled statistics from industry experts and grouped them by specific areas, and their implications. Together, these numbers provide a good panoramic of where the logistics and transportation industry are headed in years to come.
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The future of logistics in revenue numbers
- As of 2017, the logistics industry was worth, and it’s projected to almost double that estimate by 2023.
- According to McKinsey& Company, digital ecosystems could represent $60 trillion in global revenue by 2025.
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Covid has brought us closer to living in the future of logistics.
- According to Gartner, Inc., 69% of boards of directors say they “accelerated their digital business initiatives in the wake of Covid-19 disruption.”
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Visibility is becoming more and more important.
- 90% of participants said supply chain visibility technology was a priority or high priority.
- According to a Forbes report, 54% of respondents think bringing technology into logistics will improve the entire customer journey. For instance, real-time transportation visibility platforms allow consumers to fully track their packages from door to door.
Key findings from Kenco’s State of Supply Chain Innovation Survey conducted post Covid:
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Logistics as a Service
- “Over 80% of professionals indicate that they plan to significantly increase logistics outsourcing budgets beyond warehousing and fulfillment in 2020.” Gartner.
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Sustainability
- According to internetretailing.net, over a third (37%) of shoppers say they’re more environmentally conscious post-pandemic, about their online shopping habits.
- And they expect retailers to do their part too. Almost three-quarters (73%) of consumers expect online retailers to use recyclable packaging or minimize their use of packaging (74%).
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Millennials are driving the future of logistics in B2B sales.
- “By 2025, 80% of all B2B sales interactions between suppliers and professional buyers will take place in digital channels”. DHL Press Release Whitepaper
- This is because millennials make up 73% of professional B2B purchasing decision makers.
- So, as the digital natives that they are, their experiences and in the B2C sector, translates into their expectations about B2B transactions. And thus, they are pushing companies to invest in digital solutions and platforms.
At Estafeta USA, we continue to work with our suppliers to bring the future of logistics into our operations. And as usual, we’re paying close attention to our customers’ expectations, so we are better able to meet them. Thus, we encourage our customers to let us know how we can best serve them during these changing times. Remember we are in this together!
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