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- The U.S. Postal Service’s expedited package shipping services have seen a steep drop in demand, according to quarterly results released Thursday.
- The agency weathered a 40.7% decline in Priority Mail Services volume year over year for the third quarter of fiscal year 2024, which ended June 30. The category includes shipments for Priority Mail, which offers delivery in one-to-three business days, and Priority Mail Express shipments, providing delivery in one to two days with a money-back guarantee.
- “Our Priority Mail Services subcategory can be more price sensitive than other services and it continues to face intense competition from more affordable products and an industry-wide trend away from expedited products,” the Postal Service said in its quarterly report.