Ecommerce has seen huge growth in recent years.
According to Statista, the ecommerce market will reach a value of over USD 4 trillion by the end of 2023. By 2027, it will be worth more than USD 6 trillion and is expected to record a steady compound annual growth rate (CAGR) of 11.5%. Already, one in every five purchases is made online, Insider Intelligence calculates.
As the industry has grown, so too have the expectations of consumers who now expect a seamless shopping experience. A 2022 study found 62% of shoppers expect their orders to arrive in three days when they choose free shipping, and 56% have abandoned their purchases when they did not like the delivery options. In addition to fast delivery, offering a wide selection of products and easy returns is also important.
The impact of digitally enhanced logistics on ecommerce
Logistics, powered by digitalisation, is helping to meet the high expectations of ecommerce consumers and drive the industry’s growth.
Digitalisation is helping provide practical, cost-effective solutions to omnichannel fulfilment and support virtual warehouses. It is supporting the efficiency and speed that has become so important to ecommerce businesses and their customers.
So, what does the digital transformation in logistics look like? And how can ecommerce businesses benefit?
Maersk’s Global Head of Global Head of Contract Logistics Network Design and Capacity Planning shares his insights.