For over a year now, COVID-19 has wreaked havoc on our economy and destabilized the structures that keep our nation afloat. The supply chain sphere has been no exception; indeed, it is perhaps the most heavily impacted industry yet. The demand for pallets reached an all-time high in 2020 as stay-at-home orders encouraged e-commerce and skyrocketed shipments of products like groceries, medical supplies, and cleaning products. Meanwhile, key interrelated industries dealt with blows of their own. What resulted was a perfect storm that made pallets scarce and their prices steep, where they continue to be to this day.
Nearly every product you see today, no matter where in the world you are, has been transported on a pallet at some point in their journey to the consumer. They are the indispensable backbone of the supply chain, carrying as much as 80% of U.S. commerce overall. The outbreak of COVID-19 brought with it massive demand shifts, resulting both from the sudden necessity of essential goods as well as increased interest in particular markets stemming from stay-at-home orders and work from home practices.