The global impact of the coronavirus outbreak is currently the main concern of everyone in the logistics sector. In response, real estate consulting firm Colliers International decided to conduct a flash poll asking industry participants (primarily transport/logistics companies, retailers, manufacturing companies, property developers, investors) in Germany about their perspective.
Preliminary findings show that the logistics sector (still) remains relatively unfazed by recent events. 41% of those surveyed said they are not experiencing any restrictions in their business activities related to the coronavirus. Only 15% of those surveyed said they had taken precautions exceeding the recommended measures such as travel restrictions, working from home and higher hygienic standards. Such additional precautions include restructuring operations and looking for alternative suppliers.
Only 2% have cancelled projects while continuing to monitor the situation. This response was primarily given by companies from the retail and manufacturing sectors. 15% of companies active in transport/logistics reported noticeable restrictions in the movement of goods. 9% of logistics companies have restructured processes in light of recent developments. Most of the companies that indicated they are currently not experiencing restrictions are involved in the property development and investment sectors.
The majority of companies surveyed are implementing the measures recommended by the German government and are not experiencing significant restrictions as a result.
Peter Kunz FRICS, Head of Industrial & Logistics EMEA at Colliers International, comments, “The findings show that market players have trust in the current system regardless of global economic fluctuations and that the sector can be considered relatively stable and crisis-proof. However, what impact the business climate in the German logistics sector will have on market sentiment is going depend on how the situation develops in the months ahead.”
Sign up today for the latest news