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It’s no surprise that the increase in e-commerce sales of more than 15% since 2015 has changed how merchants handle their small package fulfillment. More and more consumers are expecting their shipment almost instantly which means that not only do the merchants need to have cohesive & prompt fulfillment processes but that they also need faster delivery options which means that merchants are shipping with FedEx & UPS for expedited as well as ground options.
FedEx and UPS offer service guarantees that their packages will arrive on-time, to the minute. If these carriers cannot deliver upon their guarantees , the shipper can file a claim for a 100% refund of the shipping costs.
In order to meet growing consumer expectations, merchants may offer free or discounted shipping costs as well as the faster shipping options. With an estimated 75% of online shoppers ordering their packages with the expedited delivery options, it creates a much larger margin for error than the previously favorable ground shipping method. Higher shipping costs for faster deliveries means that every dollar dedicated to shipping counts. This shift in online consumer behavior makes it more important than ever to monitor shipments and shipping invoices.
So, whether you use a third party or monitor your shipping activity manually, you need to identify exactly where your shipping dollars are invested and optimize efficiency - every penny counts!. Merchants cannot simply rely on consumer feedback alone to identify service failures. If shipping 2-day air, it’s unlikely that the merchant will be notified that the package was received at 10:30 AM because most consumers will only expect the package to be at their door on the second day. It’s examples like those that cause many merchants to forfeit their shipping costs to FedEx and UPS, which in the last year exceeded 2 billion dollars.
Using a third party system that automatically audits shipping information and files refund claims on your behalf can save extensive time and resources as well as recover the maximum amount of refunds that you're entitled to. Third party automated systems can also provide businesses like yours with extensive data & reporting to better negotiate and interact with your carrier. Third party automated systems such as 71lbs provide your company with its own dashboard, compiling all of your shipping data from your carriers into one convenient portal.
In summary, as your e-commerce sales grow, your customer expectations grow. Your shipping costs grow also so solutions like 71lbs will help you to reduce and in some cases eliminate unnecessary shipping expenses so that your business’ bottom line can also continue to grow.