Parcel Monitor Releases USA E-Commerce Logistics Market Report: Strong Q1 2024 Performance Amid Global Headwinds

NEW YORK, June 4, 2024 /PRNewswire/ -- Parcel Monitor, the leading source of e-commerce logistics insights, recently released its highly anticipated USA E-Commerce Logistics Market Report. The report offers comprehensive benchmarks and trends for carriers and retailers operating within the United States.

In 2023, the U.S. saw a notable improvement in delivery metrics as follows:

• Issue ratio decreased by 3.6% year-over-year (YoY) to 6.4%
• On-time delivery ratio remained relatively stable at 98
• First-attempt delivery success rate improved by 12.2% YoY to 97%
• Average domestic transit times decreased by 24% YoY to 2.56 days

This trend continued into Q1 2024, with average transit time further improving to 2.32 days. Despite recent economic challenges, 2024 U.S. retail e-commerce sales are projected to increase by 10.5% from 2023, according to Statista.

In line with the surge in e-commerce, leading logistics carriers like FedEx, USPS, and UPS have enhanced parcel delivery times through optimized routes, infrastructure upgrades, and advanced package tracking technologies. In Q1 2024, FedEx and UPS implemented improvements in their average transit times to 2.08 days and 2.22 days respectively. USPS, on the other hand, faces an average transit time increase to 2.55 days despite their recent efforts to reduce it.

Recognizing the need to sustain and further these improvements, FedEx and UPS announced a 5.9% average rate increase for their shipping services in 2024.

"The price adjustments reflect incremental costs associated with the current operating environment, while enabling FedEx to continue investing in service enhancement, fleet maintenance, technology innovations, and other areas to serve customers more effectively and efficiently" explained a FedEx spokesperson.

"Our USA E-Commerce Logistics Market Report provides crucial insights and unbiased benchmarks for carriers and retailers, offering transparency into a typically enigmatic market," said Dana von der Heide, Founder and Chief Customer Officer of Parcel Monitor. "We empower shippers to finally be able to benchmark their delivery against the ever-evolving market - one parcel at a time."

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

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

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

Contact:
Javier Tay
+6581125470
[email protected]

SOURCE Parcel Monitor