The continuing growth of online retail is no longer a revolutionary topic. We knew it was coming, we know it’s here and we know it’s going to grow. While most of the stories revolve around the impact on smaller retailers and changes in shopping habits, the real estate conversation normally begins and ends with “What will happen to the mall as we know it”. The topic we are interested in for Moreton bay and the Sunshine Coast is far less glamourous but potentially far more beneficial for the booming corridor.
“Last mile delivery time” is the saying that industrial property owners and developers should become more familiar with. The distribution chain is the only necessary property element of the online retail revolution. Booktopia, for example, started as a $10 a day company in 2004 and is now on track to reach $120 million for the year. This has been achieved through effective supply of a niche product through a sophisticated delivery model.
Anyone who has bought online knows that every minute it takes for you package to arrive from the time you click “buy” is time you spend contemplating if you should have just driven to the shops. Online retailers know this and they are building their delivery network to ensure the maximum number of people are reachable in the minimal timeline.
So how will this impact us? With a population growth consistently among the fastest in the country and an estimated 330,000 additional people moving here, we are now seeing a trend of transport, distribution and courier companies positioning their ships to take advantage. Expect to see larger building footprints begin to appear along the main transport corridors, with Caboolture and Caloundra set to benefit the most.