- 19 October 2017
- Transport / Logistics Services
Logistics property company Cushman & Ireland’s Urban Logistics Report suggests that major European cities will need a huge increase in urban logistics space to deal with the double digit growth in e-commerce driven parcel volumes in the coming years.
The Urban Logistics Report was published earlier this week, and forecasts a 69% increase in parcel volumes by 2021 in Europe.
According to the Cushman & Wakefield Urban Logistics Report: “In terms of population and buying power, London is the largest and most mature eCommerce market in Europe with a current urban logistics space requirement of 870,000 sq m. This total is expected to exceed 1.2 million sq m in 2021, an increase of 42%.”
For example, the report suggests that in Barcelona and Madrid, the urban logistics space will need to more than double.
Commenting on the Urban Logistic report, Lisa Graham, Head of EMEA Logistics Research & Insight, Cushman & Wakefield, said: “As more of us do our shopping online, it’s vital that our large cities have the capability to handle the increase in parcel capacity across Europe. Our Urban Space Model shows that substantial growth is expected across the board. The fact that a 42% rise in the UK is the smallest increase speaks volumes for the direction the market is heading.
“Looking ahead, it will be crucial for online retailers and parcel companies to use urban logistics space in order to meet rising customers’ expectations in terms of speed and reliability of delivery, while at the same time reducing costs in order to justify higher rents.”
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