‘Omnichannel retailing, sustainability, tech integration to rise in 2023’

Nishith Rastogi, Founder and CEO, Locus highlights trends for 2023 in logistics he says, “With the number of deliveries expected to be on the rise, several trends are expected to emerge, including: The rise in omnichannel retail: Omnichannel retailing is a process where businesses integrate all the channels to provide seamless shopping experiences to their consumers. Buying online and picking from stores (BOPIS) is a clear example. As a result, businesses increasingly invest in omnichannel capabilities to improve delivery control, speed, flexibility, and costs. It cuts unnecessary time for the product to move across intermediaries like the brand mother warehouse and makes last-mile logistics more efficient. The growing importance of Sustainability: Rising awareness around the need for sustainable operations has prompted businesses to find new ways to make last-mile fulfillment sustainable and more efficient. One example is how businesses invest in micro-fulfillment centers that are closer to customers to reduce emissions and speed up deliveries. We also expect to see continued investment in electric vehicles, parcel lockers (automated parcel devices that serve as alternate delivery locations for dense delivery zones), and greater adoption of route planning solutions to find the optimal route. That said, sustainability will take many forms going forward.
Increasing adoption of technology solutions: Logistics and supply chain experts predicted that after 2022, businesses would move away from survival mode and double down on future growth opportunities. The number of packages that consumers order continues to be on the rise, and investments in logistics technology will give businesses the ability to make quick and informed decisions and differentiate their last-mile fulfillment experience. Studies have shown that by 2024, 50% of supply chain organizations will invest in applications that support advanced analytics and AI capabilities to reduce costs and increase efficiency.”