FedEx Readies for Record Shipments on Cyber Monday

FedEx (NYSE: FDX) estimates that it will set a company record this holiday season by shipping 22 million packages on Cyber Monday. This year's forecast is predicted to exceed last year's daily record of 19.9 million shipments by 11 percent and nearly double the 11.5 million shipments of FedEx's busiest day in 2007. In preparation for the high volume of shipments, the company plans to hire more seasonal workers than last year, when it added 20,000 to handle the additional cargo.

The Dec. 2 Cyber Monday date is the earliest peak shipping day since 2007, FedEx said in a statement reports The Wall Street Journal. For the past six years, the busiest day has fallen in the middle of December when shoppers scramble to purchase last-minute gifts online.

The FedEx forecast of an earlier online peak is the result of increased interest in e-commerce from customers who would rather avoid the shopping mall rush on Thanksgiving weekend. Last year, Cyber Monday was the biggest online spending day in history, when on Nov. 26 U.S. consumers spent $1.46 billion, up 17 percent from 2011, according to comScore, Inc.

For more see:
-This Wall Street Journal article
-This Washington Post article

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