Parcel Return Services Hits $10MThe U.S. Postal Service's Parcel Return Service generated $10 million since it began as a two-year pilot program in October, the postal service said yesterday.
Parcel Return Service lets mailers provide customers with a prepaid return label that can be included in shipments, mailed to customers or made available for download via the Internet.
Merchants, or their parcel consolidators that have been approved as participants in the pilot, can pick up returned merchandise at a post office delivery unit or bulk mail center.
Newgistics, a returns management company in Austin, TX, was the first company to use PRS. It picks up returned merchandise for its customers.
"Hundreds of millions of items are returned to retailers each year," USPS vice president for product development Nick Barranca said in a statement. "These services have a great deal of upside volume and revenue potential -- if we handle the packages correctly and deliver the service as promised."