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US Retail 3PL Market Analysis

The US Retail 3PL Market size is estimated at USD 51.94 billion in 2024, and is expected to reach USD 69.43 billion by 2029, growing at a CAGR of 6% during the forecast period (2024-2029).

• From USD 3.78 trillion in 2019, total retail sales climbed 6.9% to USD 4.04 trillion in 2020. Given the negative impact of the coronavirus epidemic on in-store buying, the significant increase in total retail sales may come as a surprise. However, digital sales accounted for the majority of retail growth. In 2020, e-commerce accounted for over three-quarters of all retail growth (74.6 percent), the greatest share of overall growth the online sector has ever had. Offline sales, which include stores, catalogs, and call centers, grew 2.1% in 2020, which was the same rate as the pandemic-free prior year.
• Meanwhile, in April 2023, the United States retail sales witnessed growth on both a month-over-month and year-over-year basis. However, clothing and clothing accessory stores continued to face challenges, with a 0.3% drop in sales compared to the previous month and a 4.1% decrease compared to the same period last year. The overall retail sales growth is majorly driven by resilient consumer spending despite the inflation fluctuation. In addition, moderate price levels, continued labor market strength, and wage gains have increased consumers’ ability to spend.
• Despite the increasing consumer spending, clothing and apparel sales have slightly declined, as consumers are becoming more aware of the quality of the products. Whereas, in 2022, according to the Specialty Food Association (SFA) study, specialty foods and beverage sales witnessed significant sales by more than 9.3%. The specialty market is composed of 63 food and beverage categories which combined account for nearly 22% of retail food and beverage sales. Thus, the growing retail sales are expected to create a huge demand for third-party logistics networks in the country.

US Retail 3PL Market Trends

Growth In E-commerce Driving the Market

US Retail 3PL Industry Segmentation

Third-party logistics, often known as 3PL, is a system in which a company offers inventory management and delivery services to another company. A 3PL company is frequently used by a company (client) that does not have its own logistics department. In turn, the 3PL takes care of some or all of the client's logistics needs. Furthermore, a comprehensive background analysis of the United States Retail 3PL Market covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The impact of COVID-19 has also been incorporated and considered during the study.

United States retail 3PL market is segmented by product (food and beverages, personal and household care, apparel, footwear, and accessories, furniture, toys, and hobby, electronic and household appliances, and other products), by distribution channel supermarkets/hypermarkets, convenience stores, and department stores, specialty stores, online, other distribution channels). The report offers market size and forecasts for the United States retail 3PL market in value (USD) for all the above segments.