Just how big is the global packaging industry?
According to Packaging Digest, November 2016, the overall global packaging industry is worth $424 billion, and growing at an annual rate of 3.5%. Of that $424 billion, North America accounts for $118 billion of the market shares – or approximately 28% of the worlds packaging industry. 28%! Falling second only to Europe at 30%.
With the holidays quickly approaching, let’s talk holiday shipping forecasts for a moment.
- Throughout the 2017 holiday season, digital retail sales are expected to experience an 18% growth.
- Although on a whole shoppers are likely to spend more time online on a mobile device, when making shopping decisions, only 25% of those ecommerce sales will originate from a mobile device.
- Amazon accounts for 43% of US online retail sales! This holiday season, 72.1% of shoppers plan to seek out their gifts on Amazon.
- UPS expects to hire approximately 95,000 workers to handle the surge of shipments (a projected 750 million packages between Thanksgiving and New Years Eve alone!) leading up to and following the holidays. FedEx estimates their volume to range 380-400 million packages this holiday season. To drive timely delivery, FedEx plans their seasonal hire to add approximately 50,000.
- USPS is projected to ship more than 15 billion pieces this holiday season. Let that sink in just a few minutes. 15 billion pieces. That’s a 10% increase over last year’s numbers.
- 46.1% of shoppers report overall price (including shipping) as being the most important reason to buy holiday gifts from a particular retailer.
So with those extravagant numbers in mind, remember to thank your UPS, FedEx, or USPS worker over the next few weeks – especially December 11-24th. They’re going to have overflowing hands!