Executive Chairman of MailPac Group, Khary Robinson, says the company will be launching a new brand in the coming weeks specifically geared towards customers who want a premium e-commerce experience at an affordable price.

Speaking on Taking Stock with Kalilah Reynolds, Robinson said the new brand will help MailPac tap into a significant portion of the market that is underserved.

“80% of the market is very price sensitive and brand agnostic and what we are doing actually we’re launching a new brand under MailPac group that is centered on that market,” he said.

“We’re working on some very key strategic partnerships that will see us opening somewhere between 10-20 locations in a very unique way. They are going to be servicing that market in a way that they are not serviced currently, at a price they’ll be happy with,” he added.

Robinson said that the new product offering will have some different features from its current MailPac platform. 

MailPac Performance

The Chairman said that MailPac is doing well despite a fall in its numbers.

For its third quarter ending September 2022, MailPac saw a 2% dip in revenues to $413 million compared to the same period in 2021.  

Robinson said that a fall in revenues is to be expected considering the major boom the e-commerce industry experienced during the pandemic.

“We had massive growth throughout the pandemic because there was a curtailment of movement and the only way to get things was to go online. So, we had new customers coming into the market and we had old customers buying more,” he said.

“That created a mega boom in our business, which caused us to increase our capacity significantly. We built a new warehouse, and a new processing centre.  We expanded our processing teams, and we expanded our locations,” he added.

He said that when the world reopened, shopping patterns changed, which naturally affected business. 

“But if you think about the fundamentals of the business, we’re still the leading provider, we’ve expanded our capacity and our technology and a lot of competition that was there in the midst of the pandemic, has fallen off. So, we see ourselves being in a better position than pre-pandemic,” he said.

MailPac’s year-end results have not been released yet, however, Robinson revealed that their performance is above their performance in 2019. 

The company recorded $281 million in net profits in 2019.