Retailers are going to be gobbling up real estate space to expand warehouse and logistics operations in response to booming online sales amid the pandemic, according to a new report by Prologis.
The REIT's research department found in a June study that e-commerce penetration in the US spiked to more than 25% in April, up from 15% at year-end 2019.
Before the pandemic, Prologis had forecast e-commerce penetration to be about 17% this year. The firm has since revised the estimate up to 20%.
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Phillip Bantz
Phillip Bantz is a reporter for Corporate Counsel. Follow him on Twitter @PhillipBantz.
