Because I don't need that many physical goods as I used to? My phone shows me temperature, map, music player. I can buy tickets which I don't need to print. I read book on Kindle. I don't need a car - I have a bike, public transport and Uber. As a result I need to rent smaller apartment.
Also factor in the trend of millennials living at home and declining family formation.
But the main reason for the drop is the collapse of the emerging markets and the fact that China has dramatically slowed down.
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