The U.S. parcel market could grow twice as large by 2025, hitting a shipping volume of 25 billion parcels per year, according to a recent report from McKinsey & Company.
E-commerce represents the largest growth factor, with same-day delivery and instant delivery services fueling parcel shipments. McKinsey believes these services will make up about 20 percent of standard parcel revenue by 2025, according to the report.
"Fast delivery is being requested more and more. Customers below the age of 35 are particularly keen to see faster deliveries. Older customers generally prefer to pay the lowest price for their delivery," Jürgen Schröder, McKinsey Senior Partner and expert in Logistics and Postal Services, said in a Supply Chain Management Review report.
More articles on supply chain:
Supply chain tip of the week: Use evidence-based collaboration to drive clinician engagement
FDA approved Merck's Keytruda as first line treatment against lung cancer
HSCA's 'Total Visibility Project' boosts available product info for GPOs, providers