Good news for the global cardboard box segment: the sector is expected to end 2022 with a rise of more than 6%. According to The Business Research Company’s market research report, the industry is estimated to grow from US$40.94 billion in 2021 to US$43.54 billion in 2022, which means a growth rate compound annual growth rate of 6.4%. By 2026, the industry is estimated to reach $52.82 billion, with compound annual growth of 4.9%.
Rise in the Cardboard Box Segment
Also according to the report, the main factor responsible for the movement in the sector is the increase in online purchases – which should remain like this in the coming years. The research also quotes data from a survey carried out by the American stock exchange Nasdaq, which manages global electronic securities trading , which indicates that, in 2022, it is estimated that the rise in global e-commerce will reach up to 22% compared to the previous year.
In addition, e-commerce will increase its share of total global retail sales from an estimated 21% this year to 24.5% by 2025. The top five e-commerce markets are China, US, UK, Japan and South Korea.
Evolution in E-commerce
Online shopping, which has already been increasing and intensifying in recent years, has consolidated and expanded as never before during the Covid19 pandemic. And this behavior is here to stay – even with the reopening of the companies’ physical headquarters, the habit of online shopping has already established itself among most customers. Therefore, the current trend is for online stores to modernize and increasingly improve their services.
In addition, brands that operate on both fronts (online and face-to-face) must increasingly bet on hybrid purchase models to offer a more complete experience to customers. This includes local delivery services, “pay online and collect” shopping and ever-faster delivery logistics. Some of the trends that should strengthen in the coming years are:
- Consumer Proximity
Both pure play ecommerce and traditional retailers will try to balance e-commerce sales with physical presence through proximity to the consumer, as this can facilitate fast delivery. This is pushing retailers towards a hybrid/omnichannel model where customers can get fast deliveries or pick up of products from public lockers, for example, at their convenience, through apps. Autonomous delivery vehicles and drones are also on the horizon to deal with logistics issues and make deliveries easier and cheaper.
- Data is Gold
More and more brands will use data collected in online sales, such as a customer’s tastes, preferences and shopping habits. As machines read and process this data, they can create programs and processes to maximize customer satisfaction and drive sales. This is already a reality among major players such as Amazon, for example, and will gradually become part of the daily lives of more and more companies.
- Everything Will be Digital
More and more companies will realize the need to have an online presence. This is valid both for the promotion of products and for the sale itself – and especially for segments that until recently were exclusively face-to-face, such as supermarkets, for example.
Cardboard Boxes in Vancouver
Throughout this article – and even in others published here on the Racer Boxes blog – we covered some interesting items regarding e-commerce and the importance of digital presence. If your brand still doesn’t sell online and you’re structuring yourself to do so, please talk to us – we can help you with your demands for cardboard boxes for shipping products. To contact us, click here.
