The Grinch couldn’t steal Christmas, and neither could Covid-19. But it is moving more shopping online and that’s good news for shipping companies.
Despite an economic recession, experts still expect holiday shopping to climb between 1% and 1.5%. That’s smaller than recent years’ gains, but given that many consumers will opt to do their shopping online, e-commerce could increase between 25% and 35% year over year, according to consulting firm Deloitte. For context, online sales in 2019 increased 15%. All those packages must get delivered on time, and United Parcel Service and FedEx will be the ones to deliver Christmas cheer.
The still-raging Covid-19 pandemic, combined with cold and flu season, is already reworking the outlook for retailers’ most crucial season, with companies vowing to close on Thanksgiving.