It’s a great time to be offering passport services. In the next couple of years, the U.S. Department of State anticipates a rise in new and renewal applications because of expiring passports, heightened security rules, and an improving economy.
The U.S. Postal Service’s unassuming money order product actually has quite a distinguished history. The government established the United States Money Order System in 1864 as a safe way for Union soldiers to send money home to relatives.
A century and a half later, Americans still find money orders valuable. Last year, over 6 million American households purchased about 100 million of them with a face value of roughly $21 billion. Money orders – among the Postal Service’s most profitable products – generated $159 million in revenue in fiscal year 2015.
Back in the day, advertising mail volumes pretty much tracked the economy, declining in a bust and then rising when a boom eventually came along. But those days may be gone, as our recent white paper, Advertising Mail: Past and Present, indicates.
Yes, ad mail plummeted during the Great Recession, but volumes have lagged behind as the economy has improved.
Customized service. It’s the buzz in many industries, and considered absolutely necessary for success in the delivery industry. So it might seem strange to hear about one area where customized service is both expensive and, sometimes, dangerous: the compounding pharmacy business.