07-25-2019, 06:40 AM
The shippers are competing for an ever expanding volume as e-commerce growth rate is still healthy. There is room for some level of competition. The day may eventually come when margins gets squeezed but that could be well in the future. A recession could cause that of course. Their software is certainly no insurmountable moat. Their logistical system is no small feat to build. If it was easy Amazon would have already done it a few years ago rather than just cherry pick the regions they wish to service themselves.