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Cold storage has performed consistently well during times of financial hardship. The recession of 2009 saw  food & beverage/F&B 3PL revenues fall by just one-tenth of 1% compared to revenues for the third-party logistics/3PL sector, which were down nearly 7% in aggregate. F&B has been the third-best performing retail sector during the past two recessions, with a 3.7% month-over-month growth rate against a decline of 6.1% for total retail sales. Moreover, while retail as a whole has experienced an 8.7% decline overall during the pandemic, F&B sales have seen 25.6% growth for March 2020.

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Richard Binder

Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.

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