In recent years there has been a noticeable increase in the demand for online shopping, and the COVID-19 pandemic has only made this demand accelerate exponentially – with shoppers now warned of summer product shortages. The BBC reports that around 60% of British suppliers have experienced import delays in the past month.
According to head of capital deployment of Prologis, in order to maintain the organisation and efficiency of online shopping, the industry requires a further 775,000 square foot of warehouse space for every billion pounds the consumers spend.
The need for warehouses and their expansions is urgent, as this is where all online orders are originated, processed and sent from. However, the industry is struggling to compete with this demand.
With warehouses being sold prior to their completion, and an increase in those employed to build and expand the sites, veterans within the logistics field claim that there has been “no demand quite like this”.
The increasing growth of the industry has created many welcomed opportunities for employment and training, as people have been made redundant or are avidly searching for work because of the pandemic. The main sought-after job roles in this area include those in logistics, robotic engineering and data science.
This increasing popularity has come to a shock to many investors, who within recent years have neglected warehouses and directed their funds solely towards retail space and the Highstreet. As online shopping continues to boom, other methods become slightly outdated due to the demands of life in a pandemic.
Although online shopping does come with its draw backs of not being able to touch or try on clothes prior to your purchase, it seems the modern adaptation of a society which enjoys the convenience and now must adapt to living in a pandemic.