Federal Express Corporation, the world’s largest express transportation company, has released new insights from a survey of small and medium-sized enterprises (SMEs) across Europe that trade internationally.
The results predict strong sales in the run-up to Christmas, with eight in 10 (81%) expecting holiday sales to be better this year than in 2024.
The survey was conducted in September 2025 and included more than 1,200 SMEs in nine European markets that trade internationally.
It explored business sentiment for the 2025 holiday trading season and expectations for international e-commerce festivals such as Black Friday (November 28) and Cyber Monday (December 1).
The survey results reveal that respondents are optimistic about holiday sales this year, with more than a third (36 percent) of SMBs expecting sales to be much better than last year, and two-fifths (45 percent) expecting them to be slightly better. Businesses in Türkiye (95%), Poland (88%) and the Netherlands (85%) emerged as the countries with the strongest hopes for the holiday season. Italy (66%), Spain (78%) and the United Kingdom (79%) were the least optimistic.
External demand for European goods:
On average, SMEs from across the nine markets expected that more than a third (37%) of their holiday sales would come from regions outside Europe, demonstrating positive demand for European goods. This ratio was consistent across business-to-business (B2B) and business-to-consumer (B2C) SMEs. The top five regions that SMEs doing international trade in Europe reported doing business with were other European countries (77 per cent), the United States (48 per cent), the Middle East (34 per cent), Asia-Pacific countries (31 per cent) and Latin America and the Caribbean (22 per cent).
E-commerce-led events are expected to deliver measurable impact:
The research shows that the majority of European SMEs surveyed (86%) view e-commerce shopping festivals, such as Black Friday, Cyber Monday and Singles’ Day, as important to their sales. More than half (54%) saw such festivals as very important, while the other third (32%) saw them as somewhat important. The overall percentage agreeing on the importance of these festivals was highest among companies that deal in both consumer and commercial goods (94%), while those that deal only in consumer goods (84%) or commercial goods (77%) were slightly lower.
“Our latest numbers show a real sense of optimism from European SMEs about this holiday season,” said Wouter Rolls, president of FedEx Europe. “The vast majority expect sales to exceed last year’s numbers, with e-commerce holiday festivals expected to serve as a major catalyst for a strong peak season. The results challenge the assumption that festivals like Black Friday are purely catalysts for Bitcoin – there are plenty of growth opportunities for European B2B businesses to capitalize on as well.”
FedEx proactively addresses evolving customer needs through its suite of intelligent digital solutions designed to improve supply chain visibility, simplify shipping, and reduce international delivery times. Through tools such as e-commerce documents, customers can simplify customs declarations by uploading documents digitally to ensure timely delivery. To further support European SMEs expanding their global footprint, the FedEx SMB Hub provides multimedia resources, trade guidance and local market insights, equipping companies with the knowledge and tools to expand and compete confidently across borders.
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