Driven by continued increases in e-commerce demand, parcels and express volumes increased 3%, with growth slowed by strong competition and significant volume growth in the prior year. Meanwhile, rate increases, as well as a recovery in advertising mail volumes, drove steady growth in mail services in 2021, although e-substitution continued to drive down First-Class Mail volumes.
Higher revenue and a drop in staff costs resulted in an improved EBIT margin for the post in 2021, although it continued to report an operating loss. In March 2021, the post launched its ten-year strategy, through which it aims to return to profitability by the middle of this decade. For more details download the latest IPC Carrier Intelligence Report for USPS.