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USPS mail price hikes driving away more customers than predicted, study finds: USPS is underestimating how much recent mail price hikes are driving away some of its biggest customers, an industry report finds. The post USPS mail price hikes driving away more customers than predicted, study finds first appeared on Federal News Network. #FedearlNewsRadio #News

USPS mail price hikes driving away more customers than predicted, study finds: USPS is underestimating how much recent mail price hikes are driving away some of its biggest customers, an industry report finds. The post USPS mail price hikes driving away more customers than predicted, study finds first appeared on Federal News Network. @Poseidon-US #FederalNewsRadio #Management

USPS mail price hikes driving away more customers than predicted, study finds: USPS is underestimating how much recent mail price hikes are driving away some of its biggest customers, an industry report finds. The post USPS mail price hikes driving away more customers than predicted, study finds first appeared on Federal News Network. #FederalNewsRadio #Management

USPS mail price hikes driving away more customers than predicted, study finds The report also warns that customers who now send less mail because of higher prices are less likely to return to their old habits, even if prices stabilize. “Ignoring price sensitivity may boost revenue in the short run, but USPS must retain volume to achieve and maintain solvency in the long run,” the report states. https://lnkd.in/eXPwHu9H

As a critical part of this value chain, we are feeling the elasticity impacts daily of the United States Postal Service stance on price.

??WARNING! PSA?? USPS PRICE INCREASE! GO BUY YOUR FOREVER STAMPS AND CHRISTMAS CARD STAMPS RIGHT NOW!! You are welcome. ??The United States Postal Service (USPS) filed for price changes with the Postal Regulatory Commission (PRC) on April 9, 2024, which will go into effect on July 14, 2024. Some of the changes include: ??Letters Single-piece letters will increase from 68 cents to 73 cents for 1 oz, and the additional-ounce price will increase from 24 cents to 28 cents. Metered 1 oz letters will increase from 64 cents to 69 cents. ??Postcards Domestic postcards will increase from 53 cents to 56 cents, and international postcards will increase from $1.55 to $1.65. ??First-Class Mail First Class Presorted Automation Letter Rates will increase by an average of 8%, and First Class Presorted Automation Flat Rates will increase by an average of 11.6%. ??Priority Mail Commercial Priority Mail services will increase by approximately 5.7%, with rates starting at $7.90. ??Priority Mail Express Commercial Priority Mail Express services will increase by approximately 5.9%, with rates starting at $26.35. ??Ground Advantage Commercial Ground Advantage services will increase by approximately 5.4%, with rates starting at $3.79. ??Parcel Select Parcel Select service, which is a shipping solution for high-volume shippers, will increase by an average of 25%

Postage rates for first-class mail increased by five cents in the United States this week. The First Class "Forever" stamps - which never expire - now cost 73 cents apiece. The United States Postal Service (USPS) claims the adjustments are needed to "achieve the financial stability sought by the organization's Delivering for America 10-year plan." The USPS generated around $78 billion in revenue in 2023, according to its fact sheet (see link in the comments). That would put it on the fringes of being a Fortune 50 company. Around 10% of its mail volume is ordinary first-class mail. Why does the USPS play the Cost Game when it seems to struggle with achieving the efficiencies needed to win at that pricing game? It raises the eternal question of what value the USPS provides, and by extension, what pricing game would be better for it to play, so that it can generate the revenue it needs to improve and update equipment and improve its service. #Pricing #PricingStrategy #PostalService #Stamps #Mail

The Association of National Advertisers and Mailing Organizations Urge the Postal Regulatory Commission to Cease Surcharge and Twice Yearly Postage Rate Increases A group of industry organizations, including the ANA, filed comments?before the Postal Regulatory Commission (PRC) on its statutory review of the rate-setting process that is currently underway. These organizations depend upon universal delivery and reasonable rates. The comments focused on two key issues, the density surcharge and the frequency of postage rate increases. The group advised the PRC that since the PRC granted additional rate authority to the USPS in 2020, its customers have endured “punitive rate increases” and “drastic reductions in service quality.” The mailing leaders argued against the density surcharge which accelerated the decline of mail volume and eliminated any incentive for the USPS to right size its workforce in response to changes in mail volume. (Density rate authority means rate authority that is available to all classes to address the effects of decreases in density of mail.) Further, with regard to the twice-yearly postal hikes, the organizations stress that no other postal service in the world raises rates on customers twice per year. In fact, this “exacerbates the compounding effect of rate increases and burdens mail customers and their suppliers with implementation cost” and undermines new mail volume. The organizations call for an end to the density surcharge and to limit rate increases to once per year v. twice per year. The ANA will update members on the PRC’s decision on the rate-setting process once released.

Some United States Postal Service rates will increase in January. USPS has announced rate changes effective January 19, 2025, for USPS Ground Advantage, Priority Mail Express, Priority Mail and Parcel Select. We've posted charts comparing current rates (with holiday surcharges) to the new rates announced for January, at https://lnkd.in/gajkjeH5 Regular First Class Mail will NOT see an increase. Forever stamps will remain at 73 cents. There will also be no increases for First Class Presort, Marketing Mail, Periodicals or Bound Printed Matter. After these changes in January, no other changes are anticipated until July.

This article sums up what most you have been thinking about the postal rate hikes. Now you have some data not just a gut feel! #postalhikes #USPS #directmail #directmailmarketing #catalogs #printmarketing https://lnkd.in/ezdfQNb8