UPS’s E-Commerce Bonanza Amps Up Dependence on Amazon
- Revenue from retailer surged 31% last year as share increased
- UPS chief Carol Tome extols ‘mutually beneficial relationship’
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United Parcel Service Inc. used a pandemic-fueled boom in online shopping to post record sales last year. The surge also increased the courier’s dependence on its biggest customer: Amazon.com Inc.
Revenue from the retail behemoth jumped 31% to $11.3 billion. Amazon accounted for 13.3% of UPS’s total sales, up from 11.6% in 2019.