Retailers need more warehouse space to hold returned goods
The surge in online shopping driven largely by the novel coronavirus pandemic has led to opportunities and challenges for retailers. On the negative side is the greater percentage of product returns that many, if not most, companies are not fully prepared to handle.
A new report by CBRE says that $70.5 billion worth of goods will be returned for the holidays, creating greater demand for warehouse space to process and store the merchandise. The real estate firm has forecast that as much as 400 million square feet of additional warehouse space will need to be added over the next five years just for handling returns.
RetailWire
Related news
The spread of bluetongue has accelerated in the Netherlands
The number of cases of bluetongue, which attacks ruminant animals,…
Read more >EU court: insurers must refund the price of organized trips canceled due to the coronavirus epidemic
Insurers of bankrupt travel agencies must reimburse the price of…
Read more >That’s what they will storm the shops for if a disaster strikes
Based on the lessons learned from the coronavirus epidemic, it…
Read more >Related news
Why are parcel locker providers getting stuck? This data points to the reasons
Parcel terminals are becoming increasingly popular: this year, nearly three-quarters…
Read more >Using 30% less materials would be a solution to the climate crisis
The circular economy is a global imperative: it transcends geographical…
Read more >Sustainability and health: the rise of plant-based dairy products in Hungary
In recent years, plant-based dairy alternatives have gained significant popularity…
Read more >