Jamaican shipping and logistics company, Mailpac is acquiring an eCommerce platform, as it grows its business.

The company has announced that it is actively in dialog with an existing eCommerce platform that it believes will flourish under the ownership and leadership of the MailPac Group. MailPac Group, Chief Executive Officer, Dr. Mark Gonzales did not identify the platform but says it will be a welcome addition.

Gonzales advised shareholders that Mailpac made meaningful investments in 2020, which improved infrastructure and resources to manage significantly more volumes without additional spending.

The CEO emphasized that, “MailPac is committed to becoming the Caribbean’s most customer-centric company connecting consumers to a global array of goods and services in the most efficient manner possible.”

To achieve this long-term goal, Gonzales explained the company strategy is to build MailPac on three core pillars:

1.    Value Enhancement

2.    Customer Acquisition-Widen the customer acquisition by introducing more Caribbean nationals to the benefits of online shopping. This includes more targeted locations and marketing, delivering more accessibility solutions such as Mailpac MasterCard and Finance, targeted differentiated campaigns, and prices.

3.    Acquisitional Growth- This will provide economies of scale. As such MailPac is again looking to leverage its proven technologies and strategies across other platforms and geographies.

Investing in long scale of the business

For the company to achieve these initiatives, Gonzales contended that MailPac has started and will continue to invest in the long scale of the business. As a result of the continued investment, the CEO noted that, “MailPac is attracting more customers and creating more solutions”.

This short-term acquisition and retention cost will parlay into long-term shareholder value. As it regards financial performance, MailPac far exceeded the projections outlined in the company’s Initial Public Offer prospectus just over a year ago.

This based on the fact that the higher demand for online shopping during the pandemic has created a shift in consumer behavior, which the company is now benefitting. Revenue for the year ended December 31, 2020, increased 42% to $1.73 billion (2019: $1.21 billion), while for the six months ended June 2021, revenue rose 23% to $896.06 million (2020: 730.85 million).

The Company’s 2020-year end net profit increased by 53% to $443.08 million (2019: $289.42 million). Currently MailPac six months net profit increased year over year by 5% to $198.37 million, up from $189.74 million.