Shipping companies have to be aware of the vast number of benefits and statistics that come with transporting goods across various geographical locations. Cargo estimates and delivery schedules are some of the key considerations that determine the success or failure of a shipping business.
The shipping industry provides benefits to consumers that can’t get ignored. As a result, the international shipping industry is booming, largely to the ever-increasing ecommerce business. It has grown hand-in-hand with the amount of online shopping consumers are doing.
Industry leaders believe that it’ll grow to over $8 trillion by 2030. Business Shipping companies also play a valuable role in the economy of any region or country. They provide jobs for thousands of people, transport billions of dollar’s worth of goods, generate tax revenue, and more.
This article provides an overview of the shipping industry, crucial statistics, and its benefits.
Shipping Business Benefits
Shipping is essential for any business with a brick-and-mortar and those that do not have one. Here are a few of the many benefits that shipping provides:
1.Provides Guidance and Expertise
It allows entities such as mercury business services to provide guidance and expertise to companies who are looking to ship, but lack the specialized knowledge and years of experience needed to make the best decisions.
Working with an experienced shipping company, allows you to focus on your business while they focus on your shipping.
Companies will be happy to know that they can trust their shipment will be monitored and arrive on time.
2. Simplifies Inventory Management
It makes it possible for you to keep track of your inventory and manage it better than you can with a physical presence.
If you were operating out of an actual store, opening and closing hours would limit the amount of time spent on inventory management. But since you don't have a store, you can manage your inventory without worrying about specific hours of operation.
Proper inventory management in the shipping business is possible because you can add tracking codes to your inventory and track them online. You can also add a function to mark specific items as sold when they get sold.
3. Increases Opportunities for Scalability
You'll scale more quickly and cost-effectively than you could with a brick-and-mortar presence. In addition, it makes it easier for new companies in the shipping business to grow and expand to new regions.
A local shipping services business can expand to new regions by establishing a physical presence there. But an online presence is ideal before the company even has a product or service that customers want.
It also makes it easier for businesses operating in different countries or geographical regions to get into one another's markets.
This is a great way to maintain a competitive advantage in an industry that's becoming increasingly similar all over the world.
4. Generates Data
Shipping generates data, whether it’s from customers or from processes within your shipping business itself. Maximizing the amount of data you generate will help you make better business decisions.
Types of data you can generate from shipping include:
â— Sales data
â— Traffic data
â— Lead generation details (Data about customer preferences, customer service quality, financial tracking, etc.)
These data sources will help you streamline your operations and make them more efficient. This will allow you to make better business decisions that increase revenue, improve customer satisfaction, etc.
5. Provides Access to a Global Marketplace
The globalization of the economy makes it possible for countries and companies worldwide to share their products with other regions that may not access them before. Shipping services facilitate this kind of trade because it makes it easier for things to travel across long distances.
Global commerce will be a great advantage. Countries with a strong online presence have a huge advantage over those who don't have it.
Selling your product or service on the global market will significantly increase the chances of business success for you and other companies like yours.
What Are the Facts and Statistics Related to Shipping?
Here are the key shipping statistics:
1. More than 80% of world trade relies on ocean shipping to transport goods from one port to another and from one country to another.
2. Reports indicate that 73% of people were shopping online more than they did in the previous years. This positive trend signifies a better future for the industry.
3. Parcel deliveryrose by around 70% in 2020
4. About 44% of people affirmed that they were willing to wait up to two days for their packages to arrive.
5. The shipping industry will need about 4.5 Trillion to achieve net zero-emission by 2050 and around $500 billion by 2030.
As you see, you can save time and money on shipping products directly to customers, rather than relying on retail outlets surrounding your home base of operations to handle all of the transportation for you. So, if you’re looking for a way to expand your business without venturing far from its core competencies, partnering with a courier service can be the way to go.
