Blog/News

With the start of the new year, some trends have been surfacing. Most of it has to do with the COVID-19 virus and how the people are currently coping with this global pandemic. The effects of this are very prevalent and in the course of the last few months, the retail landscape has completely changed. We want you to be ready for some of the effects it might have on your business, so here are some trends that you may want to keep an eye on in the coming months.

 

Buying Habits

With the pandemic, the shift from brick and mortar to online shopping is a drastic change that has many companies rushing to keep up with the demand that is now occurring. Most people are now looking online first and not going to their local stores to see some of the odds and ends that they need. This has forced the eCommerce sector to go into overdrive to keep up with the global demand. This is a good and a bad thing. It is a good thing because if you have a reliable system in place it is easy to deal with a new influx of new users, but it is also driving entrepreneurs and large companies into the landscape. The competition is steadily growing as many people see this as a big opportunity to make some quick cash. The solution to this is to make sure customer retention and happiness are at an all-time high. Making sure your customer is happy should be your number one priority as the marketplace is being flooded by big corporations and hopeful business owners.

 

Social Media

Social media has been around for multiple years and it may not seem like the most optimal thing if you are an eCommerce company, but with younger generations getting into owning businesses it is the time to stop the inevitable and join! It’s quick, fun, and most importantly free! By doing this future customers can get an inside look at your company and see some of the fantastic things that you do to make sure you are pleasing the customer at every turn.

 

Mobile Optimization

Your website is the face of your business, with almost every customer doing some research before reaching out it is important to make sure that your website is accessible from any device, you never know when your next client will be looking into expanding their business and if they find your website clunky and unusable from their phone they are just going to go to the next site.

 

eCommerce is a booming industry that is growing at an incredible rate. With the pandemic occurring worldwide wide those numbers are only going to be increasing drastically, this is the perfect opportunity for you to expand your business and make sure you have the size and capacity to deal with the demand. We hope that some of these tips are helpful to you and will make sure you are ready to take on 2021 in stride!

In 1999, E-commerce sales accounted for only 1% of the total retail sales in the US. In 2017 it was more than 9% (a 3,000 percent increase). Over the last four years, the sales increased by 13 – 16%, which outpaced traditional retail sales, which are generally between 1% & 5%.   The industry has estimated that e-commerce sales will reach 17.5% of retail sales by 2021 for the entire world.

 

 So E-Commerce is on the upswing.  How has this affected transportation and logistics in the Fulfillment industry?

 

  • Many 3PL’s have adopted “Just-In-Time” Inventory Principles. Keeping the right amount of stock in the correct warehouse that is close to the destination.

 

  • Vendors will get fined if they cannot deliver in their promised window.

 

  • Carriers must deliver with faster turnaround times, even though they still have to deal with traffic, congestion, and weather.

 

  • Drivers and truckers are in high demand, with low availability. Outsourcing has helped to grow the delivery channels. For example, one company XPO has gone from grossing $175 million to the largest logistics provider in NA with revenue over 15 Billion

 

  • New Regional Hubs are emerging near airports, train depots, and interstates, to accommodate the higher demand.

 

  • New types of services have emerged, such as White Glove service for furniture and large items. The supplier will offer extra service add-ons such as Installation or Assembly.

 

  • The Majority of customers surveyed feel that delivery speed is the most crucial factor in choosing a product.

 

It can be hard to keep up with the constant changes in the Fulfillment Industry. The most important things to remember are:

 

  • Customer Loyalty – make sure you provide continuous improvement and invest in the equipment and technology as needed. This will ensure that your customers continue to use your services and recommend you to other companies.

 

  • Positive Customer Experience – meeting your SLA’s and quick response to customer communication will help to ensure your customers will stay happy.

 

  • Aligning Warehouse Space with Needs - Don’t overcommit to warehouse space. It will end up costing you your profit margins. Make do with less, and keep turning inventory rather than storing lots of pallets that don’t move.

 

  • Price Yourself Right - Know what your overhead and labor costs are, and make sure you are covering your expenses and charging your customers accordingly.

 

Follow these simple guidelines to help your company to stay on the right side of E-Commerce Growth.

Think of packaging that is synonymous with its brand. Perhaps Nike’s Swoosh or Tiffany & Co.’s little blue box and white ribbon come to mind. In the cosmetics and beauty industry, where competition is cutthroat, great packaging is critical. Packaging in the beauty industry must be eye-catching and attractive, as well as able to tempt the consumer over the hundreds of other available options.

UPS will be increasing its rates for a large portion of its shipping services, with some of them taking effect on December 24, 2017. The company said the rate increases are necessary to meet the demand of their customer base and the growth of ecommerce shipping. By raising their rates right around the holidays, they will be able to take advantage of the holiday returns rush.

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