With consumer sentiment still weak, and concerns over the global economy weighing on everyone’s mind, a lot of people have been worried that retailers are going to report weak sales numbers this holiday season. We will not know for sure just willing people have been to spend this holiday season, but the fact that FedEx (FDX) recently saw its busiest shipping day ever is a positive sign.
The company reported that on December 12 it shipped more packages than any other day in the company’s history… around 17 million packages. That marks a 10% jump from its busiest day last year, and twice as many shipments as the company typically makes a day.
A big reason why FedEx is seeing such a busy shipping holiday season is the growing popularity of online shopping at sites such as Amazon.com (AMZN). Consumers are showing that they are still willing to spend, but perhaps they are shopping smarter, and spending more time online doing research and looking for the best possible deal before making their holiday purchases.
America’s other major shipper, UPS (UPS) also has reported that its shipping volume has grown compared to last year. UPS does far greater volume than FDX, and last year it had one day where shipments exceeded 25 million units. This year the company expects to see at least 5 days with such volume.
Whether or not the boost in shipments will relate to a strong holiday season for retailers remains to be seen, but it is definitely a positive sign.
Popularity: 1% [?]
Keep up with all stock market updates with our RSS Email Feed.
