A meteoric rise in online shopping is expected to send courier and delivery sales soaring this year with Mintel estimating that the market will achieve annual growth of 23 per cent in 2020.
Demand for courier services was already booking prior to Covid-19, with the value of the market increasing by 44 per cent between 2014 and 2019 from £7.6bn to £11bn. By the end of this year it is expected to reach an estimated £13.5bn.
The boom in courier and delivery services come as four in ten (42 per cent) of Brits said they had done more online shopping since the start of the outbreak. Many older consumers have been forced to engage with online retailing and it is this group which presents as having the greatest potential for growth going forward. 56 per cent of those over 65 surveyed said they were ‘worried’ or ‘extremely worried’ about contracting the virus and will avoid busy shops wherever possible.
Younger shoppers (aged between 16-34) are however expected to cut back on their online spending due to economic concerns.
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