Posti raises parcel prices by 10% despite profits, cites growth of Vinted and Tori

Finnish postal service Posti has increased domestic parcel prices by around 10%, effective April, despite reporting profits, citing a decline in direct consumer purchases and the rise of resale platforms like Vinted and Tori, reports Yle.

Prices for online-purchased parcels have surged over 70% since 2020, with the largest XXL package cost now more than doubling from €19.90 to €44.90. Even standard small parcels (S-size) now cost around €10—up from €8 last year and €6.50 in late 2022.

Elina Rosenlund, Posti’s sales director for consumer shipments, attributed the hikes to a drop in direct parcel sales to consumers, alongside increased shipping volumes from peer-to-peer marketplaces. “On platforms like Vinted and Tori, shipping is priced by commercial operators, just as in e-commerce,” Rosenlund stated.

Despite the price rises, Posti distributed €34 million in dividends last year—exceeding its €23.5 million operating profit. CEO Antti Jääskeläinen also received a €500,000 bonus tied to the company’s stock listing, surpassing his annual salary.

While letter mail volumes continue to decline, parcel numbers grew until the early 2020s, according to transport agency Traficom.