Courier & Express Delivery Market Forecast To Reach £13.5bn in 2020
Due to the coronavirus pandemic, we have seen a global rise in online shopping - resulting in a rise in demand for courier services.
Latest research from Mintel estimates the delivery industry will achieve an annual growth of 23% in 2020, meaning by the end of this year the courier and delivery market is expected to reach a staggering £13.5 billion!
And it doesn’t stop there… according to Mintel, the market value is forecast to increase by 92% between 2019 and 2024 to reach £21 billion.
So, what factors are adding to the increased demanding courier services?
- Millennial consumers are the driving forces of online shopping, with just under two thirds (63%) of under-45s owning a delivery pass subscription.
- Now the government has urged people to work from home ‘where possible’, it will appear much easier to receive large deliveries from the comfort of your own home.
- The ongoing social distancing measures and wearing masks in stores is proving difficult for many. Therefore, people are resorting to online shopping for convenience.
- Contactless delivery and equipping the sector’s workers with protective equipment is extremely reassuring for the end users in these difficult times.
- Over-65s are increasingly engaging with online retailing due to their fear of being exposed to the coronavirus. (Prior to the lockdown this age group was the least likely to shop online!)
If any sector is thriving as a result of the pandemic, it is most definitely the delivery sector!
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