Holiday E-Commerce Activity Will Be ‘Peak Like No Other,’ Says FedEx

COVID-19 is vastly accelerating the growth of e-commerce, said Brie Carere, FedEx chief marketing and communications officer, on a fiscal Q1 investor call Tuesday evening. Pre-pandemic, FedEx projected the U.S. would surpass 100 million daily packages by 2026, she said. “We now project that the U.S. domestic parcel market will hit this mark by calendar year 2023, pulling volume projections forward by three years.” E-commerce activity “remains elevated,” though it has declined as a share of total retail from its “apex” in April, said Carere. FedEx is “working hard to set expectations with our e-commerce merchants” for the holiday selling season, she said. “I think they are very well aware that this is going to be a peak like no other.” The stock closed 5.8% higher Wednesday at $250.30.