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Pitney Bowes Announces Peak Pricing Adjustment for Ecommerce Parcels
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Pitney Bowes Inc. (NYSE:PBI) announced pricing adjustments for its domestic and cross-border delivery services effective October 3rd. The changes aim to assist clients in anticipating peak shipping costs amid rising transportation, labor, and COVID-19-related expenses. Key actions include volume caps for shipments, additional fees for oversized packages, and a December 12 induction cut-off for Standard Delivery. The company has ceased onboarding new Standard Delivery clients in Q3 to ensure capacity for existing ones, while investing in workforce and technological enhancements for better service.
Positive
Pricing adjustments aim to improve client cost management during peak shipping season.
Volume caps and additional fees are implemented to enhance operational efficiency.
Company continues to expand capacity and invest in automation and staffing.
Negative
Cessation of new Standard Delivery client onboarding may limit future revenue growth.
Increased fees and volume caps could deter potential clients or reduce satisfaction.
STAMFORD, Conn.--(BUSINESS WIRE)--
Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced pricing adjustments for its domestic and cross-border delivery and returns services for the peak holiday shipping season. The temporary pricing changes have been published on the company’s client portal and will go into effect October 3rd.
“Pitney Bowes is making it easier for clients to anticipate and manage their peak shipping costs by providing simple, straight-forward pricing and clear advice on the best way to present parcel volumes for a successful peak,” said Patrick Allard, Chief Revenue Officer, Pitney Bowes Global Ecommerce. Allard said the pricing adjustments reflect market realities, including transportation and labor costs, warehouse capacity, and additional expenses related to COVID-19 safety protocols.
Pitney Bowes is also taking the following actions to help ensure a successful peak for its clients:
Volume caps for shipments that exceed forecasts or are not consistent with agreed parcel profiles
Additional fees for large, non-machinable and oversized packages
Induction cut-off date of December 12 for Standard Delivery to residential addresses
To further support peak volume commitments from existing clients, Pitney Bowes has been closely monitoring client volumes and forecasts and has stopped launching new Standard Delivery clients in Q3. The company will continue to contract and assist new prospects with post-peak go-live dates planned for Q1 2022.
In preparation for peak, Pitney Bowes has continued to expand capacity, increase staffing, install highly automated processing and sortation equipment, and strengthen its tracking and data infrastructure.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; and financing. For 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right. For additional information visit Pitney Bowes at www.pitneybowes.com.
What are the new pricing adjustments for Pitney Bowes (PBI) services?
Pitney Bowes (PBI) announced new pricing adjustments for domestic and cross-border delivery services, effective October 3rd, aimed at helping clients manage peak shipping costs.
When do the new delivery pricing adjustments by Pitney Bowes take effect?
The pricing adjustments by Pitney Bowes (PBI) will go into effect on October 3rd.
What is the induction cut-off date for Pitney Bowes Standard Delivery?
The induction cut-off date for Pitney Bowes Standard Delivery to residential addresses is December 12.
Why did Pitney Bowes stop onboarding new Standard Delivery clients in Q3?
Pitney Bowes stopped onboarding new Standard Delivery clients in Q3 to ensure they can manage peak volume commitments for existing clients.
How is Pitney Bowes preparing for the peak shipping season?
Pitney Bowes is preparing for peak season by expanding capacity, increasing staffing, and enhancing their tracking and data infrastructure.
