Pitney Bowes Inc. (NYSE:PBI) has reported a new addition to its board of directors, as Linda Sanford was elected to the board on September 21. The board now comprises of a total of 11 members. Additionally, the company also conducted a holiday shipping survey, which revealed that the majority of shoppers in the US shop both online and in-stores. PBI concluded that the customers just want a wide array of options to make their purchases and/or returns.
The addition of Linda Sanford was a welcoming decision for the company. She has been serving IBM since 1975 and her last role was Senior VP of Enterprise Transformation. Her role demanded her to transform core business functions at the company and develop an infrastructure to be implemented globally. The President of Pitney Bowes, Marc Lautenbach, expressed his pleasure at having a director on board, with such a vast experience. He also noted that his company was at the point of transforming its business, much like IBM, and the expertise of Linda in this department was crucial. Linda Sanford is also an International Hall of Famer at the National Academy of Engineering. She also has a number of other awards to her name.
The recent survey from Pitney Bowes also reflects that retailers will have to provide a wide variety of options, in all aspects of their business. A detailed look at the survey also reveals that shipping options were the most important factor for customers. Furthermore, free delivery, even if it takes 5-7 days, was found to be more attractive than paid delivery, which could reach within 1-2 days. Additionally, 60% of these consumers also stated that they had increased their online shopping expenditures, so as to qualify for free shipping. Similarly, sales events were found to be more attractive than premium memberships. Additionally, customers preferred to return their packages at a nearby store, rather than through a shipping service.
Pitney Bowes Inc. (NYSE:PBI) closed at $19.98, after reporting a decline of 0.30% during the September 23 session.