Shopping giant United Parcel Service Inc. said holiday shipping will jump 10% as consumers increasingly turn online to buy gifts for the season.
The Atlanta company estimates that it will handle 527 million packages in the weeks between Thanksgiving and Christmas. On its busiest day, Dec. 20, the shipping firm forecasts delivering 28 million packages, or nearly twice the amount handled on a normal day.
That's a spot of good news for a company considered to be a bellwether of the global economy because it handles so many business transactions.
The growth is largely attributed to a rise in online shopping, which will account for about 10% of all holiday spending this year, research firm eMarketer said. Sales in the category will rise nearly 17% compared with last year. UPS will hire 55,000 seasonal workers to handle the spike in business.