Holiday season package returns to hit a record high, says UPS
Reuters
Published Dec 26, 2019 10:04AM ET
Holiday season package returns to hit a record high, says UPS
(Reuters) - United Parcel Service Inc (N:UPS) expects returned packages to hit a record high following this year's holiday shipping season, as consumers shopped more online, the package delivery company said on Thursday.
UPS said it expects to process 1.9 million returns on Jan. 2, up 26% from a year earlier and a seventh-consecutive annual record.
"This process is a change from years past, when consumers would rush to physical retailers the day after Christmas and stand in long lines to make returns," UPS said in a statement.
U.S. shoppers spent more online during this year's holiday shopping season, a report by Mastercard Inc (N:MA) showed on Wednesday, as e-commerce sales hit a record high.
E-commerce sales rose 18.8% year-on-year and comprised 14.6% of total retail sales, according to Mastercard's data tracking retail sales from Nov. 1 through Christmas Eve.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.