The U.S. Postal Service has launched changes to its Priority Mail lineup, including features such as free insurance, better USPS Tracking, day-specific delivery and new packaging.
The changes are expected to generate more than half a billion dollars in new revenue over the next year, according to USPS.
“This major upgrade of our Priority Mail products is one of the most dramatic new offerings from the Postal Service that meets the strong marketplace demand for core shipping features at affordable pricing,” said Patrick R. Donahoe, postmaster general and CEO, in a written statement. “We believe this Priority Mail lineup positions the Postal Service very competitively in the shipping marketplace and gives small businesses and other frequent shippers a continued and compelling reason to do business with the Postal Service.”
USPS has been struggling with increased costs and declining volumes. In fiscal year 2012 it reported a record net loss of $15.9 billion, and cost-cutting has been emphasized this year, including another unsuccessful effort to end Saturday delivery of mail.