The days of camping out in front of malls with your turkey leftovers and sleeping bags are fading. Fewer shoppers are facing the crowds this holiday season—even for Black Friday deals.
This year, consumers spent $9.4 billion online on Cyber Monday alone, according to Adobe Analytics. That’s a year-over-year growth of 19.7%.
Even the typical brick-and-mortar shopping day Black Friday saw a large surge in ecommerce sales, making $7.4 billion online. While online sales continue to grow, Black Friday brick-and-mortar retail sales fell by 6.2% from last year, according to Shoppertrak data.
With no sign of slowing down, eCommerce sales are expected to hit $147 billion this holiday season.
What Does that Mean for Holiday Shipping?
It means retailers are shipping out a lot of packages right now. In fact, UPS estimates it will deliver more than 32 million packages per day throughout the end of the year.
What’s more, retail business often rely on free shipping incentives to encourage sales. It’s a trend customers expect, and will continue to expect. 85% of customers prefer free shipping over fast shipping, according to Deloitte, and that statistic hasn’t changed much over the last five years. This means that to please customers, you’re likely incurring shipping costs (or if you haven’t, you probably plan to). How can you save on costs and ensure you don’t leave money on the table?
How to Prepare for the Future of Retail Shipping
If these numbers are any indication, Cyber Monday’s performance adds to the mounting evidence of a permanent shift to online shopping. And with it, an increase in shipping costs.
You can help offset those costs by evaluating your shipping methods now to save you money instantly and in the future.
Here are three tips to get you started:
- Analyze historical package-level data to help you manage current and future shipping trends. Plus, stay on top of real-time information to identify areas of where you could save money.
- Audit your shipping invoices for any late packages. If you don’t, you could be missing out on refunds your carrier owes you.
- Review your shipping contracts to identify where you can make changes in your next contract negotiation.
Don’t panic. We can help you capture your shipping data so you can make smarter decisions and save money.
Are you ready to leverage the power of shipping intelligence for your company? Contact us today to schedule a consultation.