FedEx Express, a subsidiary of FedEx Corp., has announced the launch of FedEx International Priority® Express (IPE), which offers customers who ship internationally the flexibility to schedule delivery by 10:30 am or noon to select destinations worldwide.
By adding time defined priority shipping as a service, the company now hopes businesses across the Asia Pacific, the Middle East and Africa (AMEA) region can expand their choices and create a convenient solution to suit their business while also providing enhanced convenience and flexibility in general.
The time-definite cross-border delivery options are part of FedEx's efforts to support businesses amidst the soaring demand for cross-border commerce, heightened by the COVID-19 pandemic.
At USD $3.9 trillion, the Asia Pacific logistics market is poised to grow at a compound annual growth rate (CAGR) of 6% between 2020-2025. And, across the Middle East and Africa, it is expected to reach USD $315 billion, growing at a CAGR of 4% by 2027. This significant growth spectrum is a signal for the rise in better solutions for businesses and eCommerce providers that rely heavily on time-sensitive international freight.
"Adding International Priority Express (IPE) is an important enhancement to our portfolio and we're launching it at a critical moment in time," says FedEx Express president, Asia Pacific, Middle East and Africa (AMEA) region, Kawal Preet.
"As economies begin to recover, businesses and consumers alike are placing heightened value on trackable, time-definite delivery, and the segment is set to grow."
Preet also believes the system advancements and offerings will help businesses better grasp their complex delivery needs, hoping the ease will help expand growth potential.
"IPE is an enhanced service with delivery windows early in the day for critical time sensitive shipments. The expanded range of solutions we now offer gives businesses of all sizes greater control, by providing them with more choices that match their needs."
The new service adds to a growing portfolio of FedEx services that have already seen a significant uptake.
Last September, FedEx enhanced its cross-border eCommerce capabilities with the launch of FedEx® International Connect Plus (FICP), an international, day-definite, eCommerce shipping service that combines competitive speed with attractive prices.
Available across ten AMEA markets, including Australia, Hong Kong, India, Japan, mainland China, Malaysia, Singapore, South Korea, Taiwan, and Thailand, this implementation looked to improve logistical supply chains.
The company says that with express logistics forming a critical part of the cross-border eCommerce value chain, consumers today expect fast, customisable, and convenient delivery options, and close to 15% of online shoppers would not make a repeat purchase if their shipment doesn't arrive on time.
FedEx Express hopes to remedy this by continuing to expand its growing portfolio. The company is one of the world's largest express transportation companies, providing services and delivery to more than 220 countries and territories.