IE Business Daily Business news for the Inland Empire.
E-commerce returns are expected to put extreme pressure on the nation’s supply chains this holiday season and increase demand for industrial space, according to CBRE.
Returns of goods purchased during Christmas could reach $70.5 billion, a 73 percent increase above the previous five-year average, CBRE reported in a study.
E-commerce, which has grown more popular during the past five to 10 years, has exploded this year because of the COVID-19 pandemic.
“As online purchases continue to increase, returns will remain a big challenge on multiple fronts- cost, storage issues, supply chain strategies, to name a few,” said Kurt Strasmann, CBRE’s executive managing director in the Inland Empire and Orange County, in a statement. “These challenges have directly benefitted industrial owners, but they’ve created real issues on multiple fronts on the supply chain side for tenants.”
Nationwide, online holiday sales are expected to rise by 40 percent this year, to nearly $240 billion, according to CBRE.
