Strong first quarter 2024 results amid global headwinds

NEW YORK, June 4, 2024 /PRNewswire/ — Shipment Monitor, the leading source of e-commerce logistics knowledge, recently released its long-awaited USA Report on the e-commerce logistics market. The report presents comprehensive benchmarks and trends for carriers and retailers operating within it United States.

In 2023, the United States saw noticeable improvements in delivery rates as follows:

• The emission rate decreased by 3.6% year-on-year (y/y) to 6.4%
• The on-time delivery rate remained relatively stable at 98
• First attempt delivery success rate increased by 12.2% y/y to 97%
• Average domestic transit time decreased by 24% y/y to 2.56 days

This trend continued in the first quarter of 2024, and the average transit time decreased further and amounted to 2.32 days. Despite recent economic challenges, U.S. e-commerce retail sales will grow 10.5% in 2024 over 2023, according to Statista.

With the rise of e-commerce, leading logistics carriers such as FedEx, USPS and UPS have improved parcel delivery times through optimized routes, infrastructure upgrades and advanced tracking technologies. In the first quarter of 2024, FedEx and UPS implemented average transit time improvements to 2.08 days and 2.22 days, respectively. USPS, on the other hand, is facing an increase in average transit time to 2.55 days, despite recent efforts to reduce it.

Recognizing the need to maintain and continue to improve, FedEx and UPS announced a 5.9% increase in the average rate for their shipping services in 2024.

“Price adjustments reflect incremental costs associated with the current operating environment, while enabling FedEx to continue to invest in service improvements, fleet maintenance, technology innovation and other areas to serve customers more effectively and efficiently,” a FedEx spokesperson explained.

“Our USA The e-commerce logistics market report provides key insights and unbiased benchmarks for carriers and retailers, offering transparency in a typically enigmatic market,” said Dana von der Heide, founder and chief customer officer of Parcel Monitor. “We are giving shippers the ability to finally benchmark their delivery against an ever-evolving market – one parcel at a time.”

To access the full report and dive into in-depth analysis, visit parcelmonitor.com/reports/usa-e-commerce-logistics-market-report-2024.

Shipment tracker information
Parcel Monitor is a trusted source of e-commerce logistics insights – powered by real consumer order data. With a global network of over 1.5 million monthly active users, over 1,078 carriers, over 170 countries and over 63,000 shipping routes, Parcel Monitor provides an accurate reflection of the e-commerce industry, tracking millions of parcels every day.

Recognized as a renowned source of data in the global logistics sector, Parcel Monitor is supported by prominent publications such as The Washington Post and The New York Times and frequently collaborates with industry leaders such as Rakuten Insights, CBRE, Transport Intelligence and eMarketer.

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SOURCE Shipment Monitor