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Payoneer Hires Assaf Ronen as Chief Platform Officer to Lead Newly-Established Platform Division

SoFi, Amazon, and Microsoft alum brings track record of product and service expansions to Payoneer’s Executive Leadership Team

NEW YORK–(BUSINESS WIRE)–Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, today announced that Assaf Ronen has joined as the company’s first Chief Platform Officer. Starting this week, he will lead Payoneer’s newly-established Platform division, which brings together Payoneer’s Technology, Product, and High Value Service units into one integrated team.

Payoneer’s customers are entrepreneurs and SMBs in emerging markets, and the world’s leading digital brands that work with them. Through the Platform division, Payoneer will continue to innovate and expand its High Value Service offerings, including B2B AP/AR, Working Capital, and Merchant Services, enhance the functionality of the Payoneer Account, and build new financial products over time for Payoneer’s customers.

Ronen joins Payoneer from SoFi [NASDAQ: SOFI], where he was the Chief Product Officer, leading the product, technology, engineering, and design teams. Prior to SoFi, he founded and was Vice President of Amazon’s Alexa shopping group and had previously been a Vice President in Amazon’s payments business. Before his time at Amazon, Assaf spent seven years at Microsoft, where he served as general manager of Skype, and as general manager of the company’s identity, access, and security products.

“We’re thrilled to bring Assaf aboard. He is a visionary product, technology, and business leader. We have tremendous growth opportunities and Assaf’s deep fintech experience and track record of delivering product and service expansions will add strength to our diverse global leadership team,” said John Caplan, Co-CEO of Payoneer.

“Payoneer has built a platform, brand, ecosystem of relationships and team that is second to none and that is rooted in customer-centricity,” said Assaf Ronen, Chief Platform Officer at Payoneer. “I’m excited to join this amazing team and look forward to helping deliver even more value for the world’s SMBs.”

About Payoneer

Payoneer is the world’s go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy.

Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you.

Forward-Looking Statements

This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements”. Forward-looking statements generally relate to future events or Payoneer’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “plan,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to the occurrence of any of the risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements”, as well as any further risks and uncertainties contained, in Payoneer’s Annual Report on Form 10-K for the period ended December 31, 2021 and future reports that Payoneer may file with the SEC from time to time. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Payoneer does not undertake any duty to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005293/en/

Investor

Michelle Wang

[email protected]

Media

Irina Marciano

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Internet Payments Finance Banking Professional Services Technology Fintech Business

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Ancora Sends Letter to the Board of Directors of Kohl’s Regarding the Need for a New Chairman and Chief Executive Officer with Turnaround Experience

Believes the Company’s Botched Strategic Review, Credit Downgrade, Dramatic Decline in Sales, Elevated Costs and Poorly Received Standalone Plan Have Placed Kohl’s on a Dangerous Trajectory – With Share Price Down 45% Over the Past Year

Contends the Board’s Actions Have Created an Environment in Which CEO Michelle Gass is No Longer Ideally Suited to Lead Kohl’s to Long-Term Value Creation

Urges the Board to Appoint a New Chairman and Announce a CEO Succession Plan That Accounts for Interviewing a Diverse Group of Qualified Candidates with Experience Turning Around Retailers

CLEVELAND–(BUSINESS WIRE)–
Ancora Holdings Group, LLC today announced that it has sent the below letter to the Board of Directors of Kohl’s Corporation (NYSE: KSS).

***

September 22, 2022

Kohl’s Corporation

N56 W17000 Ridgewood Drive

Menomonee Falls, WI 53051

Attn: The Board of Directors

Members of the Board of Directors,

Ancora Holdings Group, LLC (together with its affiliates, “Ancora” or “we”) is a long-term shareholder of Kohl’s Corporation (“Kohl’s” or the “Company”), with a beneficial ownership position of approximately 2.5% of the Company’s outstanding shares. Since collaborating with you on an incremental refresh of the Board of Directors (the “Board”) in early 2021, we have spent nearly 18 months privately engaging with leadership to share recommendations for reversing the Company’s sustained underperformance and unlocking value for long-suffering shareholders. We thoughtfully withheld public critiques during this period to provide Kohl’s time to bounce back from the COVID-19 pandemic, conduct a productive review of strategic alternatives and produce a viable standalone plan that investors could rally behind. Much to our disappointment, Kohl’s has failed to deliver on each of these critical priorities under Chairman Peter Boneparth (who has been a director for nearly 15 years) and Chief Executive Officer Michelle Gass (who has been a c-level leader for nearly a decade).

If the Boneparth-led Board remains firmly committed to its preferred standalone path, we contend that Kohl’s needs new leadership with demonstrated experience in cost containment, margin expansion, product catalog optimization and, most importantly, turnarounds. We appreciate that Chairman Boneparth has allowed us to share private feedback with him in recent months. We also want to underscore that Michelle Gass, the Company’s current Chief Executive Officer, is a talented leader who deserves credit for establishing an innovative partnership with Sephora USA, Inc. and holding the organization together during the pandemic. We have been proud to invest in a business that maintains strong gender diversity in the c-suite, as it aligns with our recognized focus on installing female leaders in more corporate boardrooms.¹ However, our view regarding the need for new leadership at Kohl’s is simply based on the facts.

During the Boneparth era, the Board has created an environment in which Ms. Gass is no longer well-positioned to lead. The Board’s decisions to reject multiple indications of interest in the $64-$65 per share range in the winter and then proceed with an opaque strategic review throughout the spring – as financing markets gradually deteriorated – have destroyed billions of dollars in equity value and painted the Company into a corner. With a failed review of alternatives and recent credit downgrade now casting shadows over what is a shrinking business, we estimate that Kohl’s has begun to trade at a steep discount to its liquidation value. The onus is now on management to begin executing flawlessly against a backdrop that includes high inflation, intense competition and recessionary headwinds. Unfortunately, the facts indicate Kohl’s lacks the right leadership for the exceedingly challenging period ahead – one that will require the Company to reverse high-single-digit sales declines, contain capital expenditures and operating expenses, and immediately optimize fulfillment, marketing and merchandising.

It gives us no satisfaction to note that Kohl’s has produced negative total shareholder returns (“TSR”) over every relevant horizon:²

1-Year	3-Year	5-Year	Since 2021 Settlement	Since Gass Appointment as CEO-Elect	Since Boneparth Appointment
-43.78%	-39.61%	-22.81%	-49.33%	-24.71%	-11.38%

Although Kohl’s has cited the pandemic as a pretext for recent performance issues, this defense does not hold up. The fact is that Ms. Gass has been a c-level leader at Kohl’s since 2013 – and TSR is negative over that period as well. Additionally, as Kohl’s has languished coming out of the pandemic, many retail peers have recovered and seen their sales dramatically increase over the past 12-18 months.

As the Board hopefully takes time to assess our recommendation, we urge it to consider some other germane facts:

• Kohl’s has had an unsettling level of c-suite turnover in recent quarters as sales have declined, indicating suboptimal personnel selection on the part of Ms. Gass. We are also dismayed that the Board chose to not disclose the recent departures of certain senior executives, including the Company’s Chief Merchandising Officer, until after the 2022 Annual Meeting of Shareholders (the “Annual Meeting”).

• Kohl’s’ most recent strategic plan received a very poor reaction from the market when it was announced on March 7, 2022, suggesting that Ms. Gass is not commanding the trust of the investment community.

• Kohl’s has recently failed to keep up with peers like Macy’s Inc. and Dillard’s Inc, with its net sales and same store sales declining as costs remain elevated. Similar to how it handled recent executive departures, the Board did not disclose a material financial miss prior to a critical shareholder vote at this year’s Annual Meeting. These disclosure decisions suggest to us – and presumably other shareholders – that the Board has been focused on maintaining control above all else.

We would also be remiss not to note that Mr. Boneparth and his fellow directors deemed it appropriate to award Ms. Gass nearly $60 million in compensation between fiscal year 2017 and fiscal year 2021, with her most recent fiscal year compensation being more than 1,000x that of the median employee’s compensation. We recognize that corporate leaders need to be compensated in line with market norms and their peers. Nonetheless, given that Kohl’s has produced years of poor returns and has started to shrink at an alarming rate, we do not support the Board continuing to expend shareholders’ capital on present leadership. Ms. Gass’ well-documented pedigree as a marketing and merchandising expert does not seem as pertinent right now given Kohl’s has pressing challenges related to its financial position, inventory levels and operations. Looking ahead, we believe shareholders’ capital should be utilized to compensate a new Chairman and Chief Executive Officer that possess operating expertise and turnaround pedigree.

In closing, we want to stress that a number of stakeholders are responsible for the abysmal performance and immense value destruction at Kohl’s. But the combination of the Boneparth-led Board’s ineffective leadership and management’s poor execution, as evidenced by the Company’s numbers, compel us to call for a new Chairman and Chief Executive Officer at this critical fork in the road. We urge the Board to announce a thoughtful succession plan and run a robust search process that accounts for interviewing a highly diverse group of qualified candidates. Ultimately, Kohl’s needs leadership that can design and implement a precise turnaround strategy to ensure the Company averts peril and starts producing enhanced value for shareholders over the long-term.

Sincerely,

Frederick D. DiSanto		James Chadwick
Chairman and Chief Executive Officer		President
Ancora Holdings Group LLC		Ancora Alternatives LLC

***

About Ancora

Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States. The firm’s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.

<sup>_______________________

1</sup>Reuters, “Analysis: Elliott, Ancora lead hedge funds in pushing for more women on boards,” January 12, 2022.

² TSR runs through September 16, 2022 and includes reinvested dividends. The “2021 Settlement” refers to the Company’s April 14, 2021 settlement with Ancora and other investors, while the “2017 Appointment” refers to the September 26, 2017 appointment of Ms. Gass as “CEO-elect” of Kohl’s and the “Boneparth Appointment” refers to the appointment of Mr. Boneparth to the Kohl’s Board on May 1, 2008.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005234/en/

Longacre Square Partners

Charlotte Kiaie / Miller Winston, 646-386-0091

[email protected]

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Finance Consulting Banking Professional Services Asset Management

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Posted on September 22, 2022 8:04 am

Alzamend Neuro Has Regained Compliance with Nasdaq’s Minimum Bid Price Requirement

Alzamend Neuro Has Regained Compliance with Nasdaq’s Minimum Bid Price Requirement

ATLANTA–(BUSINESS WIRE)–Alzamend Neuro, Inc. (Nasdaq: ALZN) (“Alzamend”), an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer’s disease (“Alzheimer’s”), bipolar disorder, major depressive disorder (“MDD”) and post-traumatic stress disorder (“PTSD”), today announced that it has received a notification letter (the “Compliance Notice”) from the Listing Qualifications Staff of the Nasdaq Stock Market, LLC (“Nasdaq”) dated September 21, 2022, informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) and the matter is closed.

As previously announced, on June 22, 2022, Alzamend received a notification letter from Nasdaq stating that the Company was not in compliance with the Minimum Bid Price Requirement because the bid price for the Company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days. To regain compliance with the Minimum Bid Price Requirement, the Company was required to maintain a minimum closing bid price of the Company’s common stock of at least $1.00 for a minimum of ten consecutive business days. The Compliance Notice confirmed that the closing bid price of the Company’s common stock has been at $1.00 per share or greater for 10 consecutive business days from September 7 through September 20, 2022, the Company has regained compliance with the Minimum Bid Price Requirement.

About Alzamend Neuro

Alzamend is an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer’s, bipolar disorder, MDD and PTSD. Our mission is to rapidly develop and market safe and effective treatments. Our current pipeline consists of two novel therapeutic drug candidates, AL001 – a patented ionic cocrystal technology delivering lithium via a therapeutic combination of lithium, proline and salicylate, and AL002 – a patented method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine that seeks to restore the ability of a patient’s immunological system to combat Alzheimer’s. Both of our product candidates are licensed from the University of South Florida Research Foundation, Inc. pursuant to royalty-bearing exclusive worldwide licenses.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and Alzamend undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect Alzamend’s business and financial results are included in Alzamend’s filings with the U.S. Securities and Exchange Commission. All filings are available at www.sec.gov and on Alzamend’s website at www.Alzamend.com.

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Email: [email protected] or call: 1-844-722-6333

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Mental Health

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CMCT Declares Common and Preferred Stock Dividends

DALLAS–(BUSINESS WIRE)–
CMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that its Board of Directors has declared a quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid on October 17, 2022 to stockholders of record at the close of business on October 3, 2022.

In addition, the Board of Directors has declared a quarterly cash dividend of $0.34375 per share of CMCT’s Series A Preferred Stock for the fourth quarter of 2022. The dividend will be payable as follows: $0.114583 per share to be paid on November 15, 2022 to Series A Preferred Stockholders of record on November 5, 2022; $0.114583 per share to be paid on December 15, 2022 to Series A Preferred Stockholders of record on December 5, 2022; and $0.114583 per share to be paid on January 17, 2023 to Series A Preferred Stockholders of record on January 5, 2023.

Further, the Board of Directors has declared a quarterly cash dividend of $0.375 per share of CMCT’s Series A1 Preferred Stock for the fourth quarter of 2022. The dividend will be payable as follows: $0.125 per share to be paid on November 15, 2022 to Series A1 Preferred Stockholders of record on November 5, 2022; $0.125 per share to be paid on December 15, 2022 to Series A1 Preferred Stockholders of record on December 5, 2022; and $0.125 per share to be paid on January 17, 2023 to Series A1 Preferred Stockholders of record on January 5, 2023. For shares of Series A1 Preferred stock issued during the fourth quarter of 2022, the dividend will be prorated from the date of issuance, and the monthly dividend payments will reflect such proration, as applicable.

The Board of Directors has also declared a quarterly cash dividend of $0.353125 per share of CMCT’s Series D Preferred Stock for the fourth quarter of 2022. The dividend will be payable as follows: $0.117708 per share to be paid on November 15, 2022 to Series D Preferred Stockholders of record on November 5, 2022; $0.117708 per share to be paid on December 15, 2022 to Series D Preferred Stockholders of record on December 5, 2022; and $0.117708 per share to be paid on January 17, 2023 to Series D Preferred Stockholders of record on January 5, 2023.

ABOUT CMCT

Creative Media & Community Trust Corporation (“CMCT”) is a real estate investment trust that seeks to own, operate and develop premier multifamily and creative office assets in vibrant and emerging communities throughout the United States. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. CMCT seeks to apply the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment characteristics to its creative office investments. CMCT also owns one hotel in Northern California and a lending platform that originates loans under the Small Business Administration (“SBA”)’s 7(a) loan program. CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. (www.creativemediacommunity.com).

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), which are intended to be covered by the safe harbors created thereby. Such forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “project,” “target,” “expect,” “intend,” “might,” “believe,” “anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,” “potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or the negative thereof or other variations or similar words or phrases. Such forward-looking statements include, among others, statements about CMCT’s plans and objectives relating to future growth and outlook. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the scope, severity and duration of the current pandemic of COVID-19, and actions taken to contain the pandemic or mitigate its impact,(ii) the adverse effect of COVID-19 on the financial condition, results of operations, cash flows and performance of CMCT and its tenants and business partners, the real estate market and the global economy and financial markets, among others, (iii) the timing, form, and operational effects of CMCT’s development activities, (iv) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (v) fluctuations in market rents, including as a result of COVID-19, (vi) the effects of inflation and higher interest rates on the operations and profitability of CMCT and (vii) general economic, market and other conditions. Additional important factors that could cause CMCT’s actual results to differ materially from CMCT’s expectations are discussed under the section “Risk Factors” in CMCT’s Annual Report on Form 10-K for the year ended December 31, 2021. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT’s control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT’s objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005354/en/

Media Relations:

Karen Diehl

Diehl Communications

310-741-9097

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or

Investor Relations:

Steve Altebrando, 646-652-8473 [email protected]

KEYWORDS: Texas United States North America

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Stem to Host Investor and Analyst Day on September 28, 2022

SAN FRANCISCO–(BUSINESS WIRE)–
Stem (the “Company”) (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, announced today that it will host its Investor and Analyst Day on Wednesday, September 28, 2022, beginning at approximately 9:00 a.m. Eastern Time (ET), in New York City, New York.

During the event, Stem’s senior management will discuss the Company’s strategy, technology differentiation, and long-term financial outlook. Additionally, the Company will provide a demonstration of its Athena^® software platform, and management will hold a Q&A session.

A live video webcast will be available in listen-only mode beginning at approximately 9:00 a.m. ET and include access to the Q&A session. To access the live webcast, please register at least 15 minutes prior to the event at https://icr.swoogo.com/STEM_Virtual. An archived replay will be made available following the end of the event. For additional information, as well as the Company’s latest presentation materials, please visit the Company’s Investor website at https://investors.stem.com/.

About Stem, Inc.

Stem provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena^® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.

Source: Stem, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005299/en/

Stem Investor Contacts

Ted Durbin, Stem

Marc Silverberg, ICR

[email protected]

(847) 905-4400

Stem Media Contact

Suraya Akbarzad, Stem

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Data Management EV/Electric Vehicles Automotive Technology Green Technology Software Artificial Intelligence Networks Alternative Energy Environment Energy

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Pitney Bowes Parcel Shipping Index Reveals China Is First Country to Ship 100 Billion Parcels as Global Parcel Volume Reaches 159 Billion In 2021

Latest International Index finds 5,000 parcels shipped every second in 2021 as global carrier revenue reaches $491.5 billion

STAMFORD, Conn.–(BUSINESS WIRE)–
Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today released the new Parcel Shipping Index featuring 2021 data from 13 major markets around the world. The Index reveals China generated 108 billion parcels in 2021, making it the first country to exceed 100 billion parcels within one year, as forecasted in last year’s report. Global parcel volume reached 159 billion in 2021 equating to 5,000 parcels per second. Total carrier revenue reached $491.5 billion. The Index estimates global parcel volume will most likely reach 256 billion by 2027, with an 8.5% CAGR from 2022-2027.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220922005176/en/

The seventh edition of the Pitney Bowes Parcel Shipping Index finds parcel volume increased across all regions in 2021. China’s growth in parcel volume represents a milestone for the shipping industry. Each day, China ships 300 million parcels, which is more than the smallest market in the Index – Sweden – ships in a year. Across the Index, parcels shipped per capita averaged 41. Parcel volume per household is a new measure included in this year’s Index. An average of 137 parcels were shipped per household across all countries, with China shipping the most at 218.

All countries reported double digit carrier revenue growth except Japan. The U.S. once again generated the highest carrier revenue, at $188 billion. France generated the highest revenue per parcel at $9.63. The average revenue per parcel was $3.

Key findings from the 2021 Parcel Shipping Index include:

• Parcel volume reached 159 billion in 2021, up 21 percent from 131 billion in 2020
• 5,000 parcels shipped per second compared to 4,160 in 2020
• Parcel revenue reached $491 billion, up 17% from $420 billion in 2020
• Highest CAGR 2015-21 for parcel volume was generated by China at 32 percent followed by Brazil at 20 percent
• Highest CAGR 2015-21 for parcel revenue was generated by China at 26 percent followed by India at 15 percent
• China remains the largest market in terms of parcel volume, reaching 108 billion, up 30 percent from 83 billion in 2020
• United States remained the market with the highest carrier revenue, reaching $188 billion, an increase of 16 percent year over year
• Sweden had the highest revenue growth of 38 percent year-over-year, followed by India bouncing back following a decline in 2020. In 2021 India generated a 32 percent year-over-year increase in parcel revenue, reaching $5.2 billion
• United Kingdom generated 80 parcels per capita, the highest parcel per person of all 13 countries in the Index

“2021 was a pivotal time for the parcel shipping industry as it experienced the aftershocks of 2020 and faced new challenges,” said Jason Dies, EVP and President, Sending Technology Solutions, Pitney Bowes. “It is incredible to see carriers generating strong revenue growth despite the headwinds. As consumer shopping habits evolve and inflationary pressures persist, it will be interesting to track the 2022 results.”

The Pitney Bowes Parcel Shipping Index measures volume and spend for business-to-business, business-to-consumer, consumer-to-business and consumer-consigned shipments with weight up to 31.5 kg (70 lbs.) in 13 major markets, representing 3.8 billion people in the U.S., Canada, Brazil, Germany, UK, France, Italy, Norway, Sweden, China, Japan, Australia and India. Based on proprietary and published data, the Index has become a valued industry benchmark and a reliable source of accurate forecasting since the inaugural report in 2016.

For detailed insights by region, please visit https://www.pitneybowes.com/us/shipping-index.html where you can also view a short video, infographic and map.

The Parcel Shipping Index is an example of research Pitney Bowes conducts annually to provide insight and forecasts on the shipping and logistics industry. Pitney Bowes also conducts BOXpoll™ a series of weekly consumer surveys in partnership with Morning Consult. Please visit www.pitneybowes.com/boxpoll for the latest BOXpoll findings.

About the Pitney Bowes Parcel Shipping Index

The Pitney Bowes Parcel Shipping Index measures parcel volume and spend for business-to-business, business-to-consumer, consumer-to-business and consumer consigned shipments with weight up to 31.5kg (70 pounds) across Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Norway, Sweden, the United Kingdom and the United States. Population data points were sourced from the International Monetary Fund, World Economic Outlook Database published in 2020. The Pitney Bowes Parcel Shipping Index spans 13 countries and represents the parcel shipping activity of 3.85 billion people.

About Pitney Bowes

Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html. For additional information visit Pitney Bowes at www.pitneybowes.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005176/en/

John Spadafora

Pitney Bowes

M+1 518 708 3466

[email protected]

KEYWORDS: Connecticut China United States North America Asia Pacific

INDUSTRY KEYWORDS: Supply Chain Management Online Retail Retail

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