Online Shopping Increase Is a Boon to Truckers
Years ago, consumers preferred to make big purchases from local stores and shops. Nowadays, people are more comfortable buying products such as appliances and televisions online. Those bulky products have to be delivered, and truckers are reaping the benefits.
JB Hunt announced it was paying $100 million for New Jersey-based Cory 1st Choice Home Delivery, and XPO Logistics has made four acquisitions to build a local carrier network.
“You’ll see more consolidation come along because there’s a lot of interest out there,” said Nick Hobbs, president of the J.B. Hunt unit that handles big and bulky deliveries.
Read more at Bloomberg.