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Postal Service improves Priority Mail for eCommerce shipping

WASHINGTON — The United States Postal Service has launched changes to its Priority Mail line-up,  including free insurance, improved USPS Tracking and day-specific delivery which are expected to generate more than a half a billion dollars in new revenue over the next year.

While it won't match the rate of loss for the USPS, it's at least a step in the right direction. According the New York Times, the 3rd quarter loss was $740 million and the previous quarter loss was $1.9 billion. http://www.nytimes.com/2013/08/10/us/post-office-loss-declines-in-third-quarter.html
 
“This major upgrade of our Priority Mail products is one of the most dramatic new offerings from the Postal Service that meets the strong marketplace demand for core shipping features at affordable pricing,” said Patrick R. Donahoe, Postmaster General and Chief Executive Officer. “We believe this Priority Mail line-up positions the Postal Service very competitively in the shipping marketplace and gives small businesses and other frequent shippers a continued and compelling reason to do business with the Postal Service.” Priority Mail now provides scheduled delivery – 1-day, 2-day or 3-day based on the origin and destination of the package. The Postal Service also provides improved USPS Tracking for all Priority Mail products. Tracking and scheduled delivery information will be located on customer’s retail receipts and is also available online using Track and Confirm.
Free insurance is designed to close competitive gaps in the shipping market place and meet the growing needs of small businesses and other frequent shippers. Priority Mail 1-day, 2-day and 3-day will include $50 or $100 of insurance coverage depending on the payment method, such as whether a customer brought it to a retail counter or it was paid for online.
“Our revamped Priority Mail product line should be a game changer in the shipping marketplace,” said Nagisa Manabe, Newly redesigned Priority Mail boxes and envelopes are available in Post Offices and online at usps.com with many Priority Mail Flat Rate sizes and pricing. Express Mail services will continue as Priority Mail Express, providing next day service with a money-back guarantee and up to $100 of free insurance.
The Postal Service has seen strong growth in its package business, which grew more than 14 percent over the last two years. This e-commerce-fueled growth trend is projected to continue for the next decade. Online consumers are expected to increase their spending by 62 percent by 2016 and U.S.
E-commerce retail sales are expected to grow by 41 percent to $370 billion annually by 2017.

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