Pitney Bowes Inc.’s expansion into software-powered logistics has helped the century-old company capture a piece of a booming e-commerce market sparked by the coronavirus outbreak, the company’s chief innovation officer says.
The service, developed over the past five years, manages parcel deliveries for about 600 retailers world-wide, as well as returns. This year, it is expected to generate more than $1 billion in sales, the Stamford, Conn.-based company says. In October, it reported third-quarter revenue of $410 million from managing deliveries of online sales, up nearly 50% from the year-earlier period.
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