LP Express, a parcel delivery network by Lithuanian Post, is to install around 300 parcel lockers in Latvia and Estonia.
The company will start operating in March 2024 – making it possible to send and receive a parcel both inside Latvia and Estonia and across all three Baltic states via LP Express network. A total investment of over €4m (US$4.37m) will be allocated for this development. After this, the LP Express network in the three Baltic countries will comprise more than 700 parcel lockers.
According to the forecasts of the data collection platform Statista, the e-commerce market in the three Baltic states will grow by 11% each year from 2023 to 2027. The platform also observed that the number of parcels traveling through parcel lockers increases every year in the region, while the need for courier services and delivery of parcels to post offices decreases. In the first half of 2023, 58% of all postal parcels in Lithuania were delivered via parcel lockers. Currently, almost 400 LP Express parcel lockers are operating in 106 locations across Lithuania.
Rolandas Zukas, CEO of Lithuanian Post, said, “LP Express made the decision to enter the segment of parcel lockers more than 10 years ago. Having successfully established itself in the Lithuanian market during this time, LP Express is now ready to offer its advantages to customers throughout the Baltic region, where online shopping is becoming more frequent and parcel lockers are becoming the predominant method of parcel delivery.
“The need for a network operating from Vilnius to Tallinn is dictated by the attitude of large foreign companies to the Baltic region as a single market, as well as the growing demand of local business customers to use the services of parcel lockers in all three countries. This expansion will strengthen the position of LP Express in the highly promising e-commerce market and at the same time will help ensure the sustainability of the company’s finances as the demand for traditional postal services decreases.”
Read more key lockers/PUDO updates from the parcel and postal technology industry, here.