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 lock down 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 lock down 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-lock down period.
