One of Swedish parcel delivery companies quadrupled its revenues

Nowadays, over 2 million people in Sweden use the company’s parcel locker offering

Instabox

One of Swedish parcel delivery companies quadrupled its revenues. Source: pexels.com

According to Ecommerce News, Instabox has quadrupled its revenues in Sweden last year, going from €6 million to €24 million.

Meanwhile, the number of users grew over 150%.

In 2019, Instabox generated revenues in Sweden worth 63 million Swedish krona (€6.14 million). In 2020, revenues were worth almost 4 times as much as they increased to 246 million Swedish krona (€23.99 million).

Along with that, Instabox more than doubled its number of automated parcel machines and recruited over 700 people in 2020.

According to the press release, it also launched a home delivery service that’s operated on bicycles.

During 2020, nearly one in five Swedes used Instabox. Usage has increased rapidly through a combination of the onboarding of several new online merchants, the consistent growth of environmental awareness and consumer preference towards more sustainable last mile delivery solutions, as well as a high share of returning users. We simply grew faster than we had expected
Alexis Priftis, CEO and co-founder

We’ve reported that researchers developed fabric-friendly NFC sensors.

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