Canada Post package delivery revenues affected by increased competition

Affected by increased competition from other parcel delivery services and the return of in-person shopping, Canada Post is reporting lower revenues and volumes in its parcel business in 2022.

As a result, parcel revenues are down $99 million in 2022 compared to the previous year, while volumes are down 75 million pieces, or 20.4 per cent.

Canada Post points to increased competition from package delivery services, customers returning to stores, and lower consumer spending. It has also been impacted by problems with supply chains.

Direct marketing, however, improved, with revenues up $32 million and volumes up 67 million pieces.

Transactional mail continued to be affected, with revenues down $70 million or 2.4 per cent.

For the fiscal year 2022, Canada Post is reporting a pre-tax loss of $548 million, compared to a pre-tax loss of $490 million in 2021.

This report was first published in French by The Canadian Press on May 4, 2023.