Feb 08, 2022, 07:15 ET
AUSTIN, Texas, Feb. 8, 2022 /PRNewswire/ -- Fetch, the first and only off-site package management solution for apartment communities, today announced that multifamily communities saw their highest package volumes ever in 2021, surpassing the record-shattering pace set in 2020 during the initial year of the COVID-19 pandemic.
The only thing growing at the same rate as e-commerce is Fetch itself. The company underwent tremendous growth during the past year, adding six new markets, 560 communities and roughly 170,000 apartment homes. Fetch raised an additional $29 million as an extension to the Series C announced last year and is targeting 20 new markets for 2022, while continuing to expand its footprint in existing markets.
"The demand for a true, hands-off package management solution has been unbelievable in recent years as operators are seeing the impact massive package volume is having on their teams. We're honored to be recognized as that solution and are continually striving to exceed the needs of the multifamily industry," said Fetch CEO Michael Patton. "Our scalable and most importantly off-site package solution is the only option that truly lifts the package burden from on-site teams and accommodates current and future e-commerce trends. We're proud of our continued expansion and efforts to reach and serve more communities and residents than ever before."
E-commerce reached unprecedented levels in 2021, as evidenced by Fetch's package data.
- Fetch delivered more than 6.1 million packages direct to resident's doors in 2021, compared to 3.2 million in 2020 – a 91% year-over-year increase.
- More recently, during the 2021 holiday season, Fetch delivered over 1.4 million packages to apartment communities, 74% more compared to the same period in 2020.
- Fetch delivered over 296,000 oversized packages in 2021, a year-over-year increase of 138%.
- Fetch has already delivered more than 650,000 packages to multifamily communities in 2022.
Online consumerism and package delivery volume at multifamily properties show no signs of slowing. E-commerce growth projections from statista estimate growth of 14.96% each year through 2025.
To accommodate the e-commerce trajectory moving forward, properties need a customized package solution capable of scaling to meet demand.
"Package management at the property level creates a large burden on our property teams," said Jessica Reznik, Director, Procurement - National Accounts with Greystar. "Package volume ramped up sharply at the start of the pandemic, but e-commerce has only continued to increase. Renters expect their communities to provide a package system capable of managing that volume, and Fetch has the ability to scale alongside e-commerce trends."
Fetch was founded in 2016 in Dallas, Texas, and has since expanded across the country to scale with current and new clients. The last-mile package delivery company currently operates in Atlanta, Austin, Charlotte, Chicago, Dallas / Fort Worth, Denver, Fort Lauderdale, Houston, Jacksonville, Miami, Minneapolis, Nashville, Orlando, Palm Beach, Philadelphia, Phoenix, Portland, Raleigh-Durham, San Antonio, San Francisco, Seattle, Tampa and Washington, D.C. Fetch accepts deliveries at local Fetch-operated facilities and works directly with residents to schedule door-to-door delivery.
The proven system solves the package problem for multifamily properties and provides residents with a convenient and time-saving amenity. With e-commerce growing rapidly, Fetch is a scalable solution for apartment owners and managers struggling to deal with the exponential growth of resident deliveries.
Fetch currently serves more than 250,000 apartment homes at 900 communities. For more information, visit www.fetchpackage.com.
SOURCE Fetch Package
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