American consumers bought $291.6 billion worth of goods through e-commerce retailers in the second quarter of 2024, reflecting a 6.7% increase compared to the same period in 2023.
Kenyon points out that it's not possible to draw a one-to-one connection between e-commerce sales and corrugated box shipment growth because e-commerce is generally substitutive, rather than additive. You buy your dining room table from an online retailer, rather than a store, but it comes in a box to your home whichever way it's purchased.
The share prices of companies like Amazon have surged, reflecting the continuing shift towards e-commerce, as demonstrated by Amazon's 20% stock increase this year amid a broader retail sales growth.
Shipments of corrugated boxes increased 3.2% from the first to second quarter of the year, demonstrating a link to the robustness of the e-commerce market.
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