Oct 23 FedEx Corp expects 11 percent
growth in shipments on Cyber Monday as retailers ship more goods
during the holiday shopping season using its ground and
SmartPost services, the company said.
Cyber Monday is the Monday after Thanksgiving when employees
return to offices and purchase items with their computers at
work. The holiday shopping season is the biggest selling period
for retailers. When customers buy online, retailers use courier
services like FedEx and United Parcel Service to ship
The National Retail Federation's Shop.org division forecast a
13 percent to 15 percent increase in online holiday sales for
the year, which would amount to as much as $82 billion. FedEx
said categories like consumer electronics, apparel and luxury
goods will be among the most shipped items, apart from
FedEx said it expects its busiest day ever on Dec. 2, which
is Cyber Monday this year and expects to move more than 22
million shipments across the world. During that whole week,
FedEx expects move more than 85 million shipments, a rise of 13
percent over last year.
Shipment forecasts from companies like FedEx are considered
a barometer of broader economic health because of the volume of
goods they move.
Memphis, Tennessee-based FedEx said the impact of the
volumes were included in the company's earnings forecast. In
September, the company said it expects earnings to grow 7
percent to 13 percent over last year.