The last mile market - Italy

This metaphor refers to the precise moment when goods are transferred from the point of production or sale to the final destination usually considered the buyer's home. This part of logistics usually takes place in a very short time so as to increase customer satisfaction. Over the past 10 years, the last-mile market has grown exponentially given the advent of e-commerce and online sales. The global last-mile delivery market is expected to grow by 8.13 percent per year in the coming years, reaching a value of $288.9 billion in 2031. In 2021, the market is worth $131.5 billion.This growth is due to the increasing demand for omichannel retailing and the growing penetration sales via e-commerce in emerging economies such as Thailand, Indonesia and India. In Italy, the last-mile market has good growth prospects due to the increase in the use of e-commerce. Italian online consumers number 38 million and are expected to reach 41 million by 2023. In addition, total e-commerce revenue in 2019 has surpassed the 41 billion mark with an increase of 18 percent over the previous year. In favor of this market is the Urban Plan for Sustainable Mobility (PUMS), which provides for the establishment of urban consolidation centers i.e., multifunctional hubs dedicated to the collection, sorting and distribution of goods. As a consequence of this, the logistics real estate market is also gaining in importance. Many investors, including foreign ones, are in fact increasing their exposure in logistics by buying real estate in strategic locations characterized by a high level of connectivity. As stated by Marco Pellò, Italian head of one of the largest real estate investment companies (Nuveen Real Estate), in the future there will be a big development of infrastructure for the replenishment of physical stores and for the management of goods ordered through e-commerce.