Parcel Monitor Predicts a 15% to 17% Surge in U.S. Holiday Sales
Parcel Monitor's latest report projects that U.S. e-commerce sales will rise up to 15-17% during peak season sales this year, together with rising consumer expectations
NEW YORK, Nov. 20, 2023 /PRNewswire/ -- In its annual peak season forecast, leading e-commerce logistics data provider Parcel Monitor anticipates a substantial upswing in retail sales for the impending holiday season.
The U.S. e-commerce market is poised to conclude peak season this year with projected parcel volume growth as high as 17% (within a range of 3% to 17%) as compared to the same time last year. Furthermore, Parcel Monitor foresees sales soaring by approximately 42% during the Black Friday Cyber Monday (BFCM) period in contrast to the pre-BFCM period.
Along with the expected surge in e-commerce holiday sales, consumer expectations are also on the rise. A 2023 study done by Parcel Monitor and Rakuten Insight Global revealed that 90.5% of U.S. consumers are willing to switch to a competitor brand after encountering just one instance of subpar customer service. This growing emphasis on superior service extends to the realm of shipping and last-mile delivery. Other key findings of the survey are:
Yet, as the holiday season draws near, retailers are confrontedwith the dual challenge of meeting customer expectations and managing the logistical challenges that come hand-in-hand during this period.
Parcel Monitor's data shows that 77% of shipment delays in the U.S. during peak season last year were caused by carrier issues. The average time from order pick-up to delivery during Black Friday/Cyber Monday 2022 was 7.5 days, with delivery companies taking 40% of that time to pick up orders from shippers. As a result, choosing the right logistics partners to guarantee timely and complete deliveries will be critical for a successful holiday season.
"Parcel Monitor's carrier performance data serves as a compass for retailers worldwide. Thanks to our insights, we can identify delivery issues and help shippers to make informed decisions about their logistics partnerships" said Dana von der Heide, Founder & Chief Customer Officer of Parcel Perform. "In an era of heightened consumer expectations, every data point becomes a strategic advantage, helping companies not only meet demand during peak seasons but also lay the foundation for year-round excellence."
To learn more, read Parcel Monitor's Peak Season Report for 2023.
Parcel Monitor gathers billions of anonymized data points from the millions of e-commerce parcels tracked by consumers in over 170+ countries.This data is analyzed, augmented, and subject to rigorous data quality tests to ensure that the insights accurately reflect the realities of the global logistics and e-commerce industry.
For this peak season analysis, the 'Pre-BFCM' period is defined as 3 weeks leading up to the week of BFCM (i.e. 30 Oct 2023 to 20 Nov 2023), and 'BFCM' as 3 weeks starting from 20 Nov 2023 to 11 Dec 2023.
About Parcel Monitor
Parcel Monitor is a trusted source of e-commerce logistics data insights for professionals. Leveraging on proprietary data and technology, Parcel Monitor captures consumer trends, provides market visibility and derives actionable insights while fostering collaboration across the entire e-commerce and logistics industry.
Obtain customized insights on e-commerce logistics at www.parcelmonitor.com.
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SOURCE Parcel Monitor