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You might want to enjoy the last few months of current FedEx shipping rates as the company just announced its plans to increase shipping prices by a very significant amount. From January, FedEx is reportedly planning to officially increase its shipping prices for popular services FedEx Ground, FedEx Express and FedEx Home Delivery by an average of 6.9%.
FedEx starts 2023 with a big increase in its Shipping, a move sure to upset long-time customers. @NBCNews reports that FedEx will increase prices on all of its consumer delivery services by an average of 6.9% beginning January 2, 2023, while FedEx Freight prices will increase from 6.9% to 7.9%. This isn’t the only increase customers should be aware of, as the late payment fee will also increase to 8% for all US FedEx Express and FedEx Ground invoices not paid according to previously approved payment terms. This is the latest rate hike for the company, as rates have risen an average of 5.9% over the past year.
If you’re wondering why the shipping giant is raising prices again in such a short period of time, it’s because the company has failed to meet recent profit expectations, prompting significant cost-cutting measures across the business. Earlier this month, FedEx CEO Raj Subramaniam said in an interview that the company’s current state is a direct reflection of the state of the US economy during the recession.”
In a message to customers on its website, FedEx explained the shipping increases: “We regularly evaluate our shipping rates and fees and adjust them as needed. This allows us to continue investing in our business so we can continue to deliver the shipping solutions you need and the excellent service you have come to expect from us,” the message reads.
https://theshaderoom.com/fedex-to-raise-shipping-prices-in-january-by-average-of-6-9-for-fedex-ground-fedex-express-and-fedex-home-delivery/ FedEx increases shipping prices by an average of 6.9% in January for FedEx Ground, FedEx Express and FedEx Home Delivery