Pan-European warehouse opportunity amidst accelerating online sales

Omnichannel retail continues to drive rapid transformation in worldwide supply chains and logistics real estate. Recently, the global COVID-19 pandemic has dramatically accelerated e-commerce penetration rates and sales growth.

Throughout Europe and the United States, e-commerce as a percentage of total core retail sales was approximately 15% in 20191. This share rose precipitously following the onset of COVID-19 in many countries worldwide (Figure 1). Globally, the e-commerce market share could rise to almost 25% by 2023 (or even 45% by 2030), as online sales have continued to grow at a double-digit rate2. Thus, demand for industrial warehouse and distribution property is expected to remain strong in the years ahead3.

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