How Overnite Courier Services Are Changing the Retail World
There’s a certain allure to being able to shop from the comfort of your own home. No lineups, no crowded parking lots or lengthy trips, and no geographical restrictions on where to shop. And that’s why online e-commerce is booming; Forrester Research predicts sales will reach $327 billion by 2016. But there’s still one advantage in-store shopping provides, and that’s being able to walk away with your product the moment you buy it.
While instant delivery may not be plausible, at least not any time soon, retailers are getting close as consumers continually demand same day delivery or overnite courier services. In fact, a recent customer experience study found that 48% of online shoppers stated they were not willing to wait more than five days for a purchase and over 40% said they have abandoned their shopping cart because of an issue with the estimated delivery date. But the benefits of same day delivery and overnite courier services supersede customer service. Here are a few of the impacts the express industry has had:
1. Reducing in-store inventory. Overnite courier tracking delivery systems allows retailers to minimize their inventory costs by reducing their in-store stock and offering customers same day delivery shipments from their distribution centres. Not only does this reduce costs, for companies who sell hundreds of thousands of products it ensures customers have access to a much fuller stock with only a minimal wait time.
2. Improving the economy. The advent of overnite courier service and the express industry has actually had quite an impact on the economy. In 2008, its direct contribution to world GDP was US$84 billion and it supports an estimated 2.75 million jobs worldwide. The express industry also continued to grow at around 25 and 35 percent worldwide per annum.
3. Creating a global market. Online e-commerce might take proximity out of the equation, but its same day delivery that gives retailers across the world the ability to compete in what is increasingly becoming a global market.
4. Increasing efficiency. Offering an overnite courier option will only be successful if precise practices are in place. Retailers need to reevaluate their procedures and increase efficiencies so as to reduce errors and process orders quicker.
Same day delivery and overnite courier services are undoubtedly important as a customer retention measure. But more than that, it’s an industry that continues to impact the retail sector and the global market.