Price for stamps may increase
The U.S. Postal Service has been on the lookout for ways to increase revenue after another quarter of financial losses. The USPS has raised prices on its services before and direct mail marketers may see a rise in stamp prices. Address validation software will continue to be an essential strategy for companies utilizing mailing campaigns to keep their own budgets low.
According to The Wall Street Journal, the USPS estimates it will increase postage stamp prices a few cents to help mitigate the service's losses. However, the USPS must ask permission from a federal commission if it seeks to raise prices more than the rate of inflation. The Wall Street Journal reports that if the agency continues to lose revenue into the autumn it will have about three days worth of operating funds for October.
This would not be the first time the USPS has tried to increase prices recently; the service asked for a 23 percent raise in rates for certain services, such as advertising mail and catalogs, but was unsuccessful, according to The Wall Street Journal. Stamps are one of the products that has seen prices hikes, climbing 12 cents per piece since 2001.
As the USPS looks to reduce its losses, address validation software will continue to be important to direct mail budgets.