FedEx expects busiest Cyber Monday shipping day yet
FedEx Corp. said Wednesday it expects the busiest Cyber Monday shipping week in its history this year as more consumers turn to shopping online for the holiday season.
The company said it expects to move more than 22 million shipments on Cyber Monday, which falls on Dec. 2. That’s an 11% increase over last year’s Cyber Monday, the marketing term for the Monday after Thanksgiving, when online retailers offer holiday shoppers steep discounts.
FedEx also projects it will handle more than 85 million shipments between Dec. 1 and Dec. 7, its busiest week of the year. That’s up 13% from the same period last year.
The Memphis, Tenn.-based shipper has seen its holiday business steadily increase since 2007 as more consumers do their shopping online.
On its busiest day in 2007, FedEx moved 11.5 million packages. That figure jumped to 19.9 million on its busiest day in 2012.
The National Retail Federation projects holiday sales will grow 3.9% this year to $602 billion. Online holiday sales are expected to increase to $61.8 billion, a 15.1% rise over last year, according to EMarketer, a market research firm.
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