Sonoco Implementing Price Increase for Uncoated Recycled Paperboard

First Quarter Highlights and other notable items: *Net sales of $4.6 billion; Corrugated Packaging segment sales increased 3.5% compared to the prior year quarter *Global Paper containerboard shipments increased 21.9% compared to the prior year quarter *Net loss of $22 million; net loss included $66 million of restructuring and other costs *Achieved over $200 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million

E-commerce is expected to reach $3.914 trillion globally by the end of 2020. And in order to snag a significant market share from the hundreds of thousands of competing e-commerce retailers that are just a few clicks away, differentiation is key. Direct to consumer (D2C) companies, in particular, allocate a lot of their budgets to marketing and branding — in some cases, 30 percent of sales. With consumers having more access to competitor products at their fingertips, D2C brands need to make a connection with consumers and give a reason to become a brand loyal customer. Unboxing also allows companies to showcase their brand through packaging, including their sustainability efforts.

We’re excited to announce Canopy™, a sustainability program that provides a curbside-recyclable alternative to PE shrink film for tray bundling! We are collaboratively bringing this program to market with WestRock and just displayed Canopy™ with working demos during PACK EXPO 2023. Canopy™ Wrap has passed rigorous ISTA 3 Series testing, is coated for moisture and abrasion resistance, and provides a printable surface for showcasing branding. Canopy™ Equipment can be retrofitted to existing bundling machinery or installed as a dedicated high-speed bundler.