United Parcel Service Inc. (UPS) played a role in establishing one e-commerce record last week and is poised to set another Thursday.
Atlanta-based air delivery and freight services company, UPS, benefited from record e-commerce sales during the holiday season, and it will be challenged again on “National Returns Day,” January 5.
UPS projects to return nearly 1.3 million packages to retailers Thursday and more than 5.8 million for the first full week of 2017. Last year, shoppers sent back over 1 million packages on National Returns Day and 5 million for the first full week of 2016, according to a press release. (See also: UPS Launches Chatbot.)
“Online shoppers want the same level of choice, control and convenience making their returns as they do making their purchases,” said Teresa Finley, UPS’ chief marketing officer. “UPS helps retailers provide shoppers with a satisfying returns experience while managing rising returns volume and the complexities of providing a seamless omni-channel shopping experience.”
UPS delivers to more than 220 countries and recently agreed to form a strategic alliance with Washington, D.C.-based Optoro, which specializes in supply chain management. Returned items cost domestic retailers approximately $260 billion in lost sales annually, according to the National Retail Federation. (See also: UPS to Modify Dimensional Weight Calculations.)
“Retailers are continuously improving their returns programs,” Finley said. “The next great opportunity is to unlock the value of these returned products through a sophisticated reverse logistics program.”
UPS, which had a market valuation of $100.43 billion, closed Tuesday’s session with its stocks trading at $115.08, a rise of .38 percent. Its 52-week high is $120.44. Loop Capital rated UPS’ stocks as a hold and JP Morgan released a listing of Neutral in December. Deutsche Bank gave the company a Hold in November.