Industrial prices are being driven by a boom that began with COVID-19 and a market that has remained strong despite normalizing demand and muted transaction volume due to elevated interest rates.
Total online grocery sales—which includes delivery, pickup and ship-to-home—are projected to reach nearly $120B annual by the end of 2028, a 12.7% share of total grocery sales in the U.S., according to a new U.S. eGrocery Sales Forecast from Brick Meets Click.
In 2023, Amazon increased the number of items delivered same day or overnight by nearly 70% year-over-year. The experience was so positive for customers that the online retail giant is planning to double the number of their same-day delivery facilities.
The sustained e-commerce surge continues to drive a considerable threefold demand for logistics space, requiring both expansive facilities and smaller, localized centers to facilitate speedy last-mile deliveries.