DB Schenker kicks off VM Talks
The conference provides essential supply chain updates that are relevant to each industry
DB Schenker Philippines held the first session of its exclusive series VM Talks which spotlights various industries throughout the year.
The conference of one of the world’s leaders in supply chain management and logistics solutions aims to discuss important topics and provide essential supply chain updates that are relevant to each industry.
The event, held at the DB Schenker corporate office in Parañaque City last February, was attended by some of the valued customers and partners of DB Schenker.
The series pushes that discussing the status of the global vertical market is crucial for awareness, decision-making, risk management, investment opportunities, collaboration, policy formulation, and fostering market confidence.
It empowers individuals and businesses to navigate the complexities of the global economy and make informed choices that align with their goals and aspirations.
“As a business partner, DB Schenker is committed to enabling development for its customers in terms of supply chain and overall growth,” the company said in a statement.
Bullish on FMCG
In a published integrated report, DB Schenker revealed that it is bullish on the growth of the fast-moving consumer goods or FMCG despite current and future global headwinds.
The report noted that the company is expecting the global retail market to reach $38 million in 2024, which is attainable, as FMCG already reached $11,490.9 billion in 2021, quoting a report from Allied Market Research.
On the other hand, the worldwide FMCG market size is expected to reach $18,939.4 billion by 2031, expecting FMCG to grow annually by 5.1 percent (compound annual growth rate 2021 to 2031).
For the retail industry outlook, the retail market size will be over $26 trillion in 2022, while by 2024, the global retail market size is expected to reach $38 trillion.
“The market is expected to grow annually by 10.1 percent (CAGR 2022 to 2024),” the report said.
Further, quoting a report from Deloitte, Global Powers of Luxury Goods 2022, and Statista, the company stated that the luxury goods sector rebounded to above pre-pandemic levels, as the luxury market size reached $349.1 billion in 2022, with key growth drivers such as the reopening of physical stores, the boom of e-commerce and normalizing demand.
“Global luxury market is expected to reach $354.80 billion in 2023, while the market is expected to grow annually by 3.47 percent (CAGR 2023 to 2027),” the report said.