Pitney Bowes Announces Pricing Adjustment as Ecommerce Demand Continues to Surge Ahead of 2020 Peak
STAMFORD, Conn., September 03, 2020 - 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 pricing changes will be applied as flat, easy-to-understand, per-parcel adjustments, not to exceed $1.50 per parcel.
“Our clients rely on Pitney Bowes to help anticipate and manage their logistics costs. We don’t take that responsibility lightly and the challenges of the pandemic have not altered our approach to simple and transparent pricing,” said Gregg Zegras, Executive Vice President and President of Global Ecommerce at Pitney Bowes. “We have worked directly with our clients to review and revise volume projections and examine the realities of our market. Based on that analysis we are introducing a simple, reasonable, and temporary peak rate adjustment not to exceed $1.50 per parcel across all of our ecommerce delivery and returns services.”
While the current expansion of ecommerce has been fruitful for online commerce, it has also created challenges as shipping costs are rising ahead of what is expected to be the largest online holiday shopping season in history. Major carriers have announced 2020 peak surcharges, many applied using opaque rules that make precise calculations difficult. This puts ecommerce merchants and shippers in the untenable position of not being able to forecast growing costs during this most critical time of year. Alternatively, Pitney Bowes will present clients with a flat, easy-to-understand, per-parcel adjustment. Pitney Bowes will communicate the changes directly to clients. The timing and rate of adjustment will be based on each client’s profile and portfolio of services.
“Our peak readiness strategy, which is being shared in detail with our clients, is focused on operational readiness and transparency,” said Gregg Zegras, Executive Vice President and President of Global Ecommerce at Pitney Bowes. “We know we have an important role to play in this pandemic and the coming peak shipping season. Our ecommerce clients and their consumers depend on us and we’re doing everything we can to make their lives a little easier.”
To help clients meet unprecedented demand, the company has expanded capacity, increased staffing, installed highly automated processing and sortation equipment, and strengthened its tracking and data infrastructure in time for peak season.
About Pitney Bowes:
Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. 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, the Craftsmen of Commerce, at www.pitneybowes.com.
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