ππΈ “When 66 Cents Feels Like a Million Bucks: The High-Flying Story of US Stamps”
TL;DR;
βοΈ The humble US ‘forever’ stamp is playing hard to get as it ups its price to 66 cents π, marking the second jump this year and fifth since 2019. This move is part of a broader set of changes by the USPS π«, including price increases for other services and the launch of a new package shipping service, USPS Ground Advantage π¦. USPS justifies these changes, citing inflation and the need for revenue generation π΅. All this while, they’re juggling a net loss of a billion dollars in Q1 of 2023 π.
π Full Scoop
The saga of the steadily climbing price of the ‘forever’ stamp continues! Starting Sunday, the cost of one of these timeless treasures will hit the 66 cents mark. This is the second hike we’ve seen this year alone, and the fifth increase since 2019. Ah, the good old days when they were a mere 50 cents. π
Inflation, they said. We need more revenue, they said. A previously defective pricing model, they exclaimed. Are we buying it though? π§ All these justifications were trotted out by USPS, the proud overseers of our ‘forever’ stamps, as they announced their intention to make sending your granny a birthday card just that little bit more expensive. π°πΈ
But wait, there’s more! Alongside our precious ‘forever’ stamps, a whole ensemble of other mail services are set to see price increases as well. Your first-class one-ounce metered letter is all grown up now, it’ll cost you 63 cents. Domestic postcards are joining the ‘over 50 cents’ club, asking for 51 cents in exchange for their services. And international postcards and one-ounce letters? Those globetrotters are soaring to a cool $1.50. Are our letters about to become rare collectors’ items? ππ
USPS isn’t just in the business of price hikes though, they’re also debuting a brand new shipping service, charmingly named USPS Ground Advantage. It’s replacing and combining previous plans, and believe it or not, this change reflects a 3.2% decline in retail prices and a 0.7% drop for commercial. A new service with a price drop? Now that’s a plot twist we didn’t see coming. π¦β¬οΈ
These changes, which we might view as a little more “Miley Cyrus in 2013” than “USPS in 2019,” were given the green light by both the Postal Regulatory Commission and the Governors of the USPS. But how about us, the stamp and letter-loving public? Do we give it the thumbs up? ππ
Meanwhile, USPS is navigating some rough financial waters. For Q1 of 2023, their operating revenue was a not-too-shabby $21.5 billion, but they’re battling a net loss of $1 billion. That’s like throwing a massive party, charging at the door, but still ending up out of pocket because you went overboard on the gourmet cheese. π§π
So, folks, where does this leave us? In a world where an increasing number of people are communicating through texts, emails, and even holograms (yep, that’s a thing), do these price hikes make sense? π²π»π΄οΈ
Is this a desperate plea from a historical institution battling to stay relevant and afloat, or a necessary step in the face of increasing costs and changing times? π°οΈπ
And finally, the million-dollar question, or should we say, the 66-cents question β would you pay more to keep the age-old tradition of mailing alive, or is it time we kiss our postage stamps goodbye? ππ
