shopping

Warehouse Demand Doubles in a Year as Covid Transforms Shopping

(Bloomberg) — Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.

Demand for U.K. warehouses surged to a record in the third quarter, driven by the boom in online shopping that accelerated during the pandemic.

Warehouse owners leased out 13.3 million square feet (1.2 million square meters) in the three months through September, more than double the year-earlier level, according to a report from broker CBRE Group Inc. Retailers that operate exclusively online accounted for a third of demand.



chart, histogram: Record Demand


© Bloomberg
Record Demand

“The past six months’ take-up exceeds the annual total for eight of the past 10 years,” Jonathan Compton, senior director for U.K. industrial and logistics intelligence at CBRE, said in a statement. “Concerns around Covid-19 and Brexit have not suppressed demand, and consumers in the U.K.

Read More Read more