Page 26 - LUA July - August 2023 Magterz and Online

GUEST COLUMN

HOW LOGISTICS

ADAPTS TO THE

CHANGING BUSINESS

LANDSCAPE

The global e-commerce revolution has transformed the business
landscape, and logistics providers are navigating these waves of
change. Natasha Parmanand explores how the logistics industry
is adapting to the evolving business landscape and supporting
businesses in meeting customer expectations.

he origin of e-commerce
industry can be traced back
to orders being placed from
T television shows and a landline
phone to sell just about everything. As consumer
Internet has transformed modern day expectations
e-commerce in the way, we acquire and
interact for goods and services. We continue to evolve, SMEs
have become accustomed to purchasing reliant on logistics service
anything we want online, including providers must be able to
industrial, aerospace, automotive and
healthcare shipping solutions . offer cost-effective services
FedEx was firmly established that combine convenience
when the online shopping explosion with speed.
transpired, leaving the business well
placed to meet shipping demands of NATASHA PARMANAND
a new generation of retail businesses FedEx
and online shoppers.
With low barriers to entry,
GROWTH AND e-commerce and the internet mean
TRANSFORMATION IN businesses anywhere in the world
E-COMMERCE are now able to trade across borders.
South Africa is the 42nd largest market Even companies with small production
for e-commerce with a predicted revenue numbers can create a presence online.
of US$6,322.1 million by 2023. Revenue With an increase of social media
is expected to show a compound annual channels and platforms, that can
growth rate (CAGR 2023-2027) of 11.9%, help businesses directly target their
resulting in a projected market volume desired audience, small and medium
of US$9,910.0 million by 2027.1 Even enterprises (SMEs) are able to
traditionally hesitant online shoppers compete with retail giants on a global
have adopted e-commerce. Covid-19 stage. Outside the traditional retail
also accelerated the increase in no- model, costs for e-commerce traders
contact purchasing, and online shopping can be kept down and lower prices can be
sites have become easier to navigate. passed on to consumers.

24 LUA JULY - AUGUST 2023