Wednesday, January 23, 2013

Postal Service still makes most retail revenue from post offices; lists of closures, cutbacks released

The U.S. Postal Service still makes most of its revenue from traditional post offices, despite claims that few people actually use physical brick-and-mortar post offices anymore, according to data the agency gave the Postal Regulatory Commission yesterday. The USPS has used the claim that traditional post offices are under-utilized as its main reason for closing, or reducing hours at, hundreds of post offices, most of them rural.

The information released for USPS's annual compliance report includes a list of post offices that were closed and suspended in 2012, and information about retail revenue sources, Contract Postal Units, and Village Post Offices, Save the Post Office's Steve Hutkins reports. USPS considers retail revenue as only the transactions that take place within a traditional post office. These revenues are only a portion of the agency's total revenue, $17 billion of $65 billion. Post offices account for more than 60 percent of USPS's retail revenues, at $10.6 billion. (Read more)