E-comm, FMCG, retail sectors contribute 27% to total warehousing demand since 2019: CBRE-In
E-commerce, FMCG and retail sectors contributed 27 per cent to total warehousing demand since 2019, according to a report by CBRE and Indospace.
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E-commerce, FMCG and retail sectors contributed 27 per cent to total warehousing demand since 2019, according to a report by CBRE and Indospace.
The report, 'The Three-mile Tale: Dissecting The New-age Retail Supply Chain Network', was released by real estate consultant CBRE and Indospace at a CII Realty conference here on Wednesday.
"The collective warehousing demand for e-commerce, FMCG, and retail sectors have accounted for nearly 27 per cent of the total demand in the 2019-H1 2023 period," the report said.
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Within the retail sector domain, hypermarkets (51 per cent) and fashion & apparel (32 per cent) companies dominated the share in warehousing demand.
Notably, the share of retail in total warehousing demand has increased from 8 per cent in 2019 to 13 per cent in 2022.
The share of retail sector stood at 9 per cent in January-June 2023 but is expected to strengthen in the second half with anticipated increase in consumption during the festive season, the consultant said.
"India's retail landscape is undergoing an unprecedented shift, owing to a surge in retailers, store expansion, and rapid growth in online shopping," Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE, said.
The convergence of social media and e-commerce platforms has enabled an extensive online purchasing ecosystem, he added.
"Retail players are trying to stay agile and nimble by reassessing their supply chains, which has led to a rise in demand for warehouse leasing and advanced warehousing solutions," Magazine said.
Everstone Group Vice Chairman, real estate, Rajesh Jaggi said the demand for warehousing space is growing from the manufacturing sector as well, apart from third party logistics (3PL), e-commerce, retail and FMCG players.
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