Lithuanian Post’s parcel locker offering LP Express is set to install 300 parcel lockers in Latvia and Estonia by March 2024.
Once established, it will be possible to send and receive a parcel both inside Latvia and Estonia and across all the three Baltic states via the LP Express network.
Lithuanian Post will invest more than €4m (US$4.3m) in the project, which will take LP Express’s network to more than 700 lockers across the three Baltic countries – Latvia, Estonia and Lithuania.
Rolandas Zukas, CEO of Lithuanian Post, said, “LP Express made the decision to enter the segment of parcel lockers more than 10 years ago. Having successfully established itself in the Lithuanian market during this time, LP Express is now ready to offer its advantages to customers throughout the Baltic region, where online shopping is becoming more frequent and parcel lockers becoming the predominant method of parcel delivery.
“The need for a network operating from Vilnius to Tallinn is dictated by the attitude of large foreign companies to the Baltic region as a single market, as well as the growing demand of local business customers to use the services of parcel lockers in all three countries. This expansion will strengthen the position of LP Express in the highly promising e-commerce market and at the same time will help ensure the sustainability of the company’s finances as the demand for traditional postal services decreases.”
According to the forecasts of the data collection platform Statista, from 2023 to 2027, the e-commerce market in the three Baltic states will grow by 11% each year. In addition, it is observed that the number of parcels traveling through parcel lockers increases every year in the region, while the need for courier services and delivery of parcels to post offices decreases.
In the first half of 2023, 58% of all postal parcels in Lithuania were delivered via parcel lockers.