Rebecca Dacre, Partner at Forvis Mazars, said, "The delivery boom started by the pandemic has not lasted the way smaller logistics businesses hoped it would. Most of the work is now being won by the biggest players in the logistics sector, leaving smaller companies struggling to compete."
The combination of a drop in demand and tough economic circumstances has created a difficult environment for many in the sector.
Overall consumer spending has also fallen since the pandemic, with the index volume of retail sales in July 2020 numbering 105 compared to 99 in July 2024. This is in part due to high interest rates leaving people with less disposable income.
Some online retailers are also beginning to charge customers for returning goods bought online, to reduce their own losses. This has started to impact demand for logistics services.
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