Estimates from the U.S. Department of Commerce indicates consumers spent $513.61 billion online in 2018, this is up 14.2% from 2017. Ecommerce represented a growing share of the retail market in 2018, taking a 14.3% share of total retail sales last year. This compares to a 12.9% increase from 2017 and 11.6% in 2016. These numbers are one of the drivers for an expansion of the distribution channels.
Along with the rapid growth of internet sales has come the demand by consumers for faster delivery of the products they buy. This has also increased the need for the expansion of suppliers’ distribution networks, and this includes more fulfillment centers located in geographic areas most suitable to accomplishing this delivery goal. For example, Amazon has 41.7 million square feet of additional distribution infrastructure planned. Companies such as Walmart, The Home Depot, eBay and Apple are some other examples of the big ecommerce retailers driving this demand.
PMI plays a part in this market place through its participation in the supply of hardware used to construct the storage equipment/structures that hold the inventory that supports the ecommerce supply chain. With PMI’s resources and experiences in the areas of parts acquisition, value added services, and inventory management options, we are well suited to support the unique requirements presented in this everchanging environment. We are excited and proud to have a role in this dynamic technology driven marketplace.