E-commerce: Warehousing demand declines by 71%

The e-commerce sector’s demand for warehousing and logistics declined by 71% to 3.4 million sq ft in FY23.

E-commerce companies had picked 11.6 million sq ft warehousing space in FY22 to deal with a surge in demand during the covid pandemic.

Property consultancy Knight Frank India said in its India Warehousing Report 2023 that this decline in demand from e-commerce was more than made by third-party logistics (3PL) companies, manufacturing and retail.