Pitney Bowes, a global shipping and mailing company, has recently released an annual report that showcased a noteworthy trend in the U.S. parcel delivery industry. Despite an increase in parcel volume, the U.S. has seen the first decline in parcel revenue in seven years. The 2023 U.S. Parcel Shipping Index highlighted the competitive landscape of carriers and changing consumer behaviors, showing a slight dip in revenue from $198.4 billion in 2022 to $197.9 billion last year—a 0.03% decrease. Conversely, the number of parcels saw a minor uptick from 21.5 billion in 2022 to 21.7 billion in 2023, marking a 0.05% increase.
Looking forward, Pitney Bowes anticipates that U.S. parcel volume will reach between 23 billion and 35 billion by 2029. Among the four major carriers—USPS, Amazon, UPS, and FedEx—only Amazon reported a year-over-year growth in cargo volume, an impressive 15.7%. While both Amazon and the Postal Service saw revenue gains, UPS and FedEx experienced declines in both parcel volume and revenue.
From 2019 to 2023, Amazon's shipping volume almost doubled from 2 billion to 5.9 billion packages. However, their revenue trail behind, generating $28.6 billion, which is less than half of UPS's $68.9 billion and FedEx's $63.2 billion. Pitney Bowes suggests that the economics of last-mile delivery are shifting towards smaller parcels and more cost-effective transportation services.
"Despite the lingering effects of the pandemic, ongoing inflation, and a somber economic outlook, consumer spending remains resilient, mainly driven by the growing global demand for value-priced goods. The result is an influx of smaller, lower-cost, lighter-weight packages that boost sales volume despite lower revenue per item," stated Shemin Nurmohamed, EVP and President at Pitney Bowes, in the report. UPS retains the largest share of parcel revenue market at 35%, followed by FedEx at 32%. The Postal Service holds a 16% share, while Amazon has increased its share by two percentage points to 14%.
In terms of volume, USPS handled 6.6 billion parcels, a nearly 1% decrease from 2022. Amazon processed 5.6 billion packages, up 15.7% from the previous year. UPS saw a 10.3% decline to 4.6 billion parcels, and FedEx processed 3.9 billion parcels, down 6.1%. Other parcel delivery carriers experienced a substantial growth of 28.5%, handling 600 million parcels. In revenue terms, UPS reported $68.9 billion, a 6.4% decrease. FedEx's revenue stood at $63.2 billion, down by 3.1%. The Postal Service's income was slightly up at $31.7 billion, a 0.08% increase. Amazon generated $28.6 billion in revenue, up 19% from 2022, while other parcel carriers amassed $5.6 billion, marking a 32.5% rise.
Comentarios