Notable improvement in delivery metrics in US in 2023: Parcel Monitor

On-time delivery ratio remained relatively stable last year at 98 and first-attempt delivery success rate improved by 12.2 per cent YoY to 97 per cent.

Average domestic transit times fell by 24 per cent YoY last year to 2.56 days, the e-commerce logistics insights company said in a release.

This trend continued into the first quarter (Q1) this year, with average transit time further improving to 2.32 days. Despite recent economic challenges, US retail e-commerce sales this year are projected to increase by 10.5 per cent 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 optimised 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.

Recognieing the need to sustain and further these improvements, FedEx and UPS announced a 5.9 per cent average rate increase for their shipping services this year.

Fibre2Fashion News Desk (DS)