SingPost Sees Strong Surge in Parcel Volumes

Singapore Post (SingPost) experienced a surge in parcel volumes during the year-end peak season, as a result of online shopping campaigns such as Singles Day, Black Friday and Cyber Monday, the postal authority said in a statement.
SingPost’s courier subsidiary SP Parcels delivered more than 580,000 parcels locally in the month of November, a 24% increase compared to non-peak months and a jump of 25% year on year.

To cope with the volume, SingPost said that SP Parcels increased staff manpower by 20% while courier working hours were also extended by two hours during the period.
Freddy Chang, head of SP Parcels, said that over the years, the organisation has seen steady growth in parcel volumes as shoppers go online for the best deals during the festive season. "These numbers represent just the tip of the iceberg, as e-commerce continues to grow in Singapore, as well as in the wider Southeast Asian region," Chang added.
In August, SingPost was hit by a S$16.7m (US$12.1m) loss from its e-commerce business in the first quarter of 2018, causing overall profits to plummet by 40.4% to S$18.72m, which according to financial analysts was mainly due to “the competitive pressures” in SingPost's U.S. businesses at TradeGlobal and Jagged Peak which it acquired in 2017.