Yodel’s full-year results for 2023 reveal that the company had a record year last year, with volumes up 3% to 191 million parcels and revenues rising by 3.4%.
Volumes doubled in the company’s out-of-home network compared with 2022, and further growth is expected in 2024 with its expanded multi-year partnership with Vinted and PayPoint.
The company also saw growing use of the Yodel app, with downloads increasing by 30% to over 3.5 million in 2023 compared with the previous year, and improved proactive communication with customers reducing inbound inquiries by a third year-on-year during the busiest period.
Strategic and operational highlights of 2023 included the opening of a new head office in Speke, Liverpool and a 12,542m2 depot in Coventry. Yodel also invested £14m (US$17.75m) in its fleet, adding 45 new tractor units and 120 double-decker trailers to increase capacity.
Mike Hancox, CEO of Yodel, commented, “I’m delighted that Yodel has successfully navigated the challenges of rising labor costs and high inflation in 2023 while continuing to support our retail clients and their customers with outstanding levels of service and reshaping our business to perform strongly in growing categories.
“In the coming year, our focus will be to consolidate our recent investments in technology and grow our out-of-home network in response to the huge increase in customer demand for pre-loved products. Thanks to the convenience, personal service, security and greater sustainability that this channel offers, growing numbers of customers are seeing the benefits of using this service.”