A collapsible shipping container for perishable goods is comprised of an inner, stiff, corrugated paperboard box having interior surfaces forming an enclosure of defined shape and opposing exterior surfaces. A surrounding skin of thermally insulating material is adhesively secured to the exterior surfaces of the corrugated paperboard box. The thermally insulating skin envelopes the box therewithin. Unlike conventional systems, the thermally insulating skin is located on the outside surfaces of the box, and not within the box. A collapsible shipping container according to the invention to a large extent prevents heat from ever entering the box.