With more and more retailers turning to online selling methods, the need for warehouse retail space is set to boom this year according to media group, cityam.com.
It is anticipated that there will be more demand for 40ft square spaces as opposed to requests for 20ft square spaces in 2020.
With the online retail industry constantly growing and the acceleration since COVID, the demand for more warehouse retail space to store stock is rapidly expanding.
Historically, commercial land investment has looked to retail parks and out of town shopping centres, now these owners are converting their interests into warehouse retail space.
Warehouse retail space could become more efficient with digital technology
With growing interest in SMART warehouses using advanced technology such as AI robotics to pick and pack goods, weigh and transport goods, machines and humans are working together to create improved methods of fulfilment.
Orders can be processed far more efficiently, allowing retailers to meet sales targets. They analyse data and tracking processes to review which products are selling the quickest or the slowest and feed back to their supply chain based on demand.
Over recent years, the likes of online retailers Amazon and Argos have demonstrated how robotics and digital technology can speed up picking processes, replacing manual labour tasks and encouraging warehouse retail space to operate within safer processes as there is less manpower to cause accidents.
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