PFS Reports Record Order Fulfillment Volume for Third Year in a Row
Record Annual Order Fulfillment Driven by Existing and New Client Activity Throughout the Year
Record Order Fulfillment During the
Record Sales Bookings from Existing and New Clients
2022 Operational and Sales Highlights
- Set third consecutive year of record order fulfillment volume.
- Fulfilled over
$3.2 billionin gross merchandise value on behalf of our clients in 2022.
- Shipped nearly 132 million units in 2022, an increase of 21% compared to 2021.
- Shipped nearly 45 million units in Q4 2022, an increase of 10% compared to 2021.
- Set a new quarterly record for orders fulfilled in Q4 – surpassing Q4 2020 as PFS’ highest volume quarter in company history.
- Set record
ThanksgivingWeek order fulfillment volumes, an increase of 16% compared to the previous record in 2020.
- Set record Cyber Week order fulfillment volumes, an increase of 12% compared to the previous record in 2020.
- Eclipsed previous single-day record of orders fulfilled four times during Cyber Week.
- Supported multiple clients who achieved record revenue days during Cyber Week.
- Achieved a record year in new sales bookings, recording 31 bookings worth an estimated
$44.9Min annual contract value (ACV).
- Surpassed 100 brands in client portfolio.
“PFS executed well for its clients in 2022, and I am incredibly proud of our performance,” said
“Several of our clients had record revenue days as a result of high consumer demand during holiday promotions and our team’s high-quality execution,” continued Thomann. “Deploying a multi-node fulfillment operation for several large clients helped us maximize our available labor pool and achieve these record daily volumes. I am grateful for the effort our team put forth leading up to and during the holiday peak period to achieve these record numbers.”
Promotions and Consumer Buying More Focused on
This year, brands chose a more traditional holiday promotional cycle around Black Friday and Cyber Monday with less promotional activity after Cyber Week through the end of the year. This client promotional behavior resulted in consumer buyer behavior returning to similar patterns experienced in 2018 and 2019. This shift led to significant fulfillment volume spikes during
Similar to 2018 and 2019, PFS experienced a more significant decrease in fulfillment volumes as client promotional activities slowed following Cyber Week as compared to 2020 and 2021, which is expected to negatively impact year-over-year comparisons. PFS still expects to deliver strong annual revenue performance, within the prior guidance range, with revenue anticipated to be toward the bottom end of the targeted 5% to 10% SFE revenue growth.
Record Sales Bookings and Multi-Node Fulfillment Expansion
PFS also reported 31 new sales bookings estimated to be worth
Thomann concluded: “As we discussed throughout 2022, the momentum we created early in the year with new sales bookings from both new and existing clients resulted in a record sales bookings year. Combining these client wins with certain existing client overperformance drove the above record order fulfillment volumes and solidified our multi-node strategy as a sustainable growth model. Eighteen PFS brands now ship from multiple PFS fulfillment centers—up from 15 at the end of 2021—and we have plans to continue expanding our fulfillment center footprint in 2023. Our previously announced second
PFS leadership will be in attendance at booth #6715 at NRF 2023, Retail’s Big Show taking place at the
Read more on PFS’ 2022 operational performance here.
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Source: Priority Fulfillment Services, Inc.