Needham & Company senior media and internet analyst Laura Martin forecasts earnings expectations for Alphabet, Google, and Amazon on ‘Making Money.’
Amazon and FedEx reportedly weighed teaming up on returns last year.
The companies engaged in talks early last year but didn’t ultimately emerge with a partnership in place, The Wall Street Journal reported Monday, citing a person familiar with the matter.
The companies talked about FedEx retail locations taking Amazon returns, according to the outlet.
The companies talked about FedEx retail locations taking Amazon returns, according to The Wall Street Journal. (Pascal Rossignol/File Photo / Reuters Photos)
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“We are always open to having commercial conversations when approached with an opportunity by current or potential customers,” a FedEx spokesperson told FOX Business, noting that the talks are a normal course of business. “As a reminder, we still do business through Seller Fulfilled Prime and Marketplace.”
Amazon did not respond to FOX Business’ request for comment.
A FedEx shipping truck in San Ramon, California, on March 3, 2022. (Smith Collection/Gado / Getty Images)
FedEx previously had a relationship with Amazon that included a deal to make U.S. ground deliveries. That contract ended in 2019, as previously reported by FOX Business.
Amazon ships billions of packages every year and also receives millions of returns, according to the Journal.
The Amazon fulfillment center in Amagasaki, Japan, on July 4, 2022. (Kazuhiro Nogi/AFP via / Getty Images)
The e-commerce giant uses UPS and other companies to help deal with the packages from orders that customers want to send back, the outlet reported. As part of its efforts with returns, Amazon also lets customers take their returns to participating Kohl’s and Staples locations.
CERTAIN AMAZON RETURNS AT UPS STORES COME WITH FEE
UPS moved in late October to further capitalize on returns by acquiring Happy Returns in October. The company works with merchants on “frictionless, no-box, no-label returns.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 174.48 | +0.06 | +0.03% |
| FDX | FEDEX CORP. | 253.18 | -0.11 | -0.04% |
In 2023, U.S. retailers experienced a 17.6% rate of return for online merchandise, the National Retail Federation and Appriss Retail found in a survey. That equated to roughly $247 billion.
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