Royal Mail parcel volumes fall as shops reopen

Royal Mail has reported a drop in parcel volumes in the UK compared with last year but insisted that the market will remain stronger than before the pandemic because of a permanent shift in shopping habits. "We are starting to see evidence that the domestic parcel market is rebasing to a higher level than pre-pandemic, as consumers continue to shop online," said Keith Williams, chair of Royal Mail. That drop contributed to a 13 per cent fall in overall parcel volumes for Royal Mail in the quarter. Some of the fall in parcel volumes was offset by a rise in revenues from letter deliveries, which came close to pre-pandemic levels because of a rebound in volumes driven by advertising mail and higher pricing. Shares in Royal Mail fell 2.7 per cent on Wednesday but they remain more than three times higher than they were a year ago.

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