Pitney Bowes Announces 2023 Price Increase for Ecommerce Services

Rhea-AI Summary

Pitney Bowes (NYSE: PBI) announced a 6.5% general rate increase (GRI) for ecommerce services, effective January 1, 2023. This increase applies to standard delivery of parcels, standard returns, and cross-border delivery services. The company aims to maintain performance and invest in technology infrastructure while offering competitive rates amidst inflationary pressures. Patrick Allard, Chief Revenue Officer, stated that the GRI is lower than other major carriers, ensuring service quality and transparent pricing.

Positive

• 6.5% GRI lower than major carriers.
• Investment in tech infrastructure to enhance services.
• Maintaining competitive prices amid rising costs.

Negative

• None.

STAMFORD, Conn.--(BUSINESS WIRE)-- Pitney Bowes (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced a 6.5% general rate increase (GRI) for ecommerce services effective January 1, 2023. The pricing program continues the company’s commitment to providing ecommerce shippers with simple, easy to understand rates and services.

The 6.5% GRI applies to the following services:

• Standard Delivery of parcels weighing one pound or more through the Pitney Bowes US domestic network
• Standard Returns through the Pitney Bowes US domestic network
• Cross-Border Delivery Services to more than 100 countries

“Our 2023 ecommerce pricing will allow Pitney Bowes to maintain capacity and performance levels across our network, while continuing to make strategic investments in our technology infrastructure,” said Patrick Allard, Chief Revenue Officer, Global Ecommerce, Pitney Bowes. “Pitney Bowes is offering a lower GRI than other major carriers, while continuing to deliver designed services with a nationwide scope, highly responsive client teams, and transparent, easier-to-forecast pricing.”

Pitney Bowes has maintained competitive prices despite inflationary pressures, rising labor and transportation costs, and while managing for the impact of COVID-19. The company continues to advance its global logistics services and capacity, investing in enhanced tracking, robotics, automation, new facilities, and an expanded owned transportation fleet.

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 additional information, visit Pitney Bowes at www.pitneybowes.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221118005094/en/

Media:

Pitney Bowes – Brett Cody, brett.cody@pb.com; (203) 218 1187

Source: Pitney Bowes Inc.

FAQ

What is the general rate increase announced by Pitney Bowes for 2023?

Pitney Bowes announced a 6.5% general rate increase for ecommerce services effective January 1, 2023.

Which services are affected by the Pitney Bowes 6.5% GRI?

The 6.5% GRI applies to standard delivery of parcels, standard returns, and cross-border delivery services.

Why is Pitney Bowes increasing its ecommerce rates?

The rate increase is to maintain capacity and performance levels while continuing strategic investments in technology.

How does Pitney Bowes' rate increase compare to other carriers?

Pitney Bowes' 6.5% GRI is lower than the increases announced by other major carriers.