The parcel market is tilting in shippers’ favor amid soft delivery demand, giving them an opening to secure new carrier contracts at better rates. As UPS looks to attract more volume after weathering losses during union negotiations, Rent the Runway anticipates immediate savings from its new deal.
In April, Rent the Runway said it expected transportation costs to continue increasing in the 2023 fiscal year. After securing the agreement, that thinking changed; earlier this month the company said it believes transportation costs will decrease for the year.
