More than 40 million Americans change their address each year, which means the U.S. Postal Service forwards an awful lot of mail. In fiscal year 2010, it forwarded 1.2 billion pieces. Under the Postal Service’s regulations, customers who fill out a change of address form have their mail forwarded to their new address for 12 months after the move. Mail forwarding costs the Postal Service almost $300 million a year. The cost to return mail to sender is another $800 million.
The holidays might be over but the package returns season is in high gear. It kicked off in mid-December, shortly after the first wave of holiday deliveries, and is expected to run through most of this month.
Returns track with the online retail market — as shopping online grows, so, too...Read More