Invest in equipment to beat the warehouse shortage
According to a logistics market report, the UK’s warehouse property stock will have vanished by the end of the decade, due to demands from internet retailers. Midland Pallet Trucks, one of the UK’s leading providers of pallet and pump trucks, is urging businesses to make the most of the space they have available by investing in good-quality equipment for use in warehouses.
The report suggests that warehousing space fell to a record low last year, despite the predicted increase in online sales. Following on a similar path to the last five years, online sales are expected to significantly rise again to reach £182.80 billion in 2016 (+16.7 percent) and £215.38 billion in 2017. As retailers attempt to satisfy consumer demand more quickly and efficiently, there is an unprecedented demand for warehouse space right across the country.
Although this year will see elevated levels of new developments, consultancy Lambert Smith Hampton (LSH) said that retailer and distributor requirements for logistics warehouses will exceed the country’s available stock by 2020 by around 7.6 million square metres.
Phil Chesworth, Managing Director of Midland Pallet Trucks said, “It’s quite concerning that despite ongoing development, the country may see a lack of available storage.
"Warehouses are often over 30 feet high, meaning there’s ample space for companies to expand upwards instead of outwards and utilise the space they have available. By investing in quality equipment such as aerial work platforms and stacker trucks, warehouse staff are able to store products safely and effectively to make the most of their space.”
The news comes as it’s also revealed that high street bricks and mortar stores suffered during March. Thought to be as a consequence of the early timing of Easter and the heavy rain brought on by Storm Katie, the number of visitors through retailers’ doors fell by 3.9 percent – lower than the 2.9 percent dip reported in February.