As Cyber Monday kicks off the e-commerce side of the busy holiday shopping season, shipping companies such as UPS (NYSE:UPS) see a jump in business as well. UPS CEO David Abney weighed in on the company’s plans to keep up with the holiday shipping rush.
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“Stuart, we are very confident this year in peak season, we’ve gotten off to a great start. The reason we are so confident is that we start at the beginning of the year planning,” Abney told the FOX Business Network’s Stuart Varney.
Though Abney would not disclose the company’s market share of the online delivery market compared to competitors such as FedEx (NYSE:FDX) and the U.S. Postal Service, he did acknowledge the significant impact e-commerce played in the company’s busy holiday season.
“E-commerce this time of year is over 50% of our business.”
Abney then responded to concerns Amazon’s (NASDAQ:AMZN) expansion of its shipping network could be a long-term threat to UPS.
“You know, Amazon is a good customer of ours and we have a mutually beneficial relationship and we believe that as long as we show them the value that we know we bring that we’ll continue to [have a] good relationship.”