Pitney Bowes Parcel Shipping Index Finds US Volumes One Year and One Billion Parcels Ahead of Pre-Pandemic Forecast
March 28 2023 - 9:00AM
Business Wire
Pitney Bowes forecasts 5 percent CAGR most
likely for next 5 years as consumers remain unlikely to fully
return to pre-pandemic behaviors
Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing
company that provides technology, logistics and financial services,
today released the US data for 2022 from its latest Pitney Bowes
Parcel Shipping Index. Coming off two-years of pandemic-fueled
growth, parcel volumes decreased 2% in 2022, but remain on a
trajectory that far outpaces predictions made prior to the
pandemic. The US shipped, received and returned 21.2 billion
parcels in 2022, 1.1 billion more than anticipated by pre-pandemic
forecasts.
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The latest Index shows 58 million parcels were shipped in the US
each day in 2022 – totaling around 674 parcels per second. Per
capita parcel volume for the US declined nominally from 65 to 64
with an average of 162 parcels shipped per US household during
2022.
US parcel volume declined two percent in 2022, with parcel
volume reaching 21.2 billion in 2022, down from 21.7 billion in
2021. Carrier revenues exceeded all previous years’ figures
totaling $198 billion, an increase of 6.5 percent from $186 billion
in 2021. Pitney Bowes forecasts US parcel volume to most likely
reach 28 billion by 2028, with a 5 percent CAGR from 2023 -
2028.
"Amidst the challenges posed by the pandemic, carriers showed
commendable resilience, a testament to the carriers' ability to
adapt," stated Shemin Nurmohamed, President of Sending Technology
Solutions at Pitney Bowes. "The industry's record-breaking revenues
showcases its capacity to meet and overcome the challenges
presented to brands as economic challenges mount and consumer
behavior continues to shift.”
Key takeaways from the latest Index include:
- Carrier Volume
- Parcel volume reached 21.2 billion in 2022, down from 21.7
billion in 2021, a decrease of 2 percent
- Pre-pandemic, parcel volumes were not forecasted to reach 21.2
billion until 2023, putting volumes a full year ahead of
projections
- By volume, USPS shipped 6.7 billion parcels in 2022 down from 7
billion in 2021; UPS shipped 5.2 billion parcels in 2022, down from
5.3 billion; and FedEx shipped 4.1 billion, down from 4.3
billion
- Amazon Logistics kept its parcel volume at the ‘21 level of
4.8B
- The combined parcel volume from smaller carriers outside the
top four, included in the 'Others' category, grew by 25
percent
- Carrier revenue
- Carriers collectively generated $198 billion in parcel revenue
– a 6.5 percent increase year-over-year from $186 billion
- UPS generated the highest carrier revenue with $73 billion,
followed by FedEx ($65 billion), USPS ($31 billion), Amazon
Logistics ($24 billion), and the combined revenue from 'Others',
reached $4 billion
- 'Others' grew revenue by 29 percent
- UPS generated a 5.5 percent increase in revenue year-over-year,
FedEx 5 percent growth and USPS revenue was flat
- Carrier market share
- By revenue, UPS generated the highest parcel market share of 37
percent followed by FedEx (33 percent), USPS (16 percent) and
Amazon Logistics (12 percent)
- By volume, market share remained generally the same, with
Amazon Logistics slightly up year over year (23 percent, up from 22
percent)
The global Pitney Bowes Shipping Index, which includes data from
13 countries, will be launched later this year, with data for the
remaining 12 countries in the Index. The decision to release US
data earlier was made to meet high market demand in the US. Based
on proprietary and published data, the Index has become a valued
industry benchmark since the inaugural report in 2015.
The Pitney Bowes Shipping Index US data can be found here. In
addition to these insights, the Pitney Bowes 2022 Order Experience
Index, a compilation of data and insights on each step of an
ecommerce order, from checkout to returns, further tells the story
of an ecommerce landscape weighed down by challenges of inflation,
shifting consumer preferences, and pandemic-driven consumer
behaviors with opportunities for retailers to better understand
shifting consumer behavior as they implement ecommerce strategies
that resonate most with their customers.
About the Pitney Bowes Parcel Shipping Index
The Pitney Bowes Parcel Shipping Index measures parcel volume
and spend for business-to-business, business-to-consumer,
consumer-to-business and consumer consigned shipments with weight
up to 31.5kg (70 pounds) across Australia, Brazil, Canada, China,
France, Germany, India, Italy, Japan, Norway, Sweden, the United
Kingdom and the United States. Population data points were sourced
from Macrotrends.net. The Pitney Bowes Parcel Shipping Index spans
13 countries and represents the parcel shipping activity of 3.7
billion people.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company
that provides technology, logistics, and financial services to more
than 90 percent of the Fortune 500. Small business, retail,
enterprise, and government clients around the world rely on Pitney
Bowes to remove the complexity of sending mail and parcels. For the
latest news, corporate announcements and financial results visit
https://www.pitneybowes.com/us/newsroom.html. For additional
information visit Pitney Bowes at www.pitneybowes.com.
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John Spadafora Pitney Bowes M +1 518 708 3466
John.spadafora@pb.com
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