The world is shrinking. The internet has brought consumers and products closer than ever, regardless of how many miles separate them. And it’s expected that global eCommerce will approach $5 trillion by 2021. With that kind of growth, it only makes sense that retailers and eCommerce players are expanding into global markets to get their fair share. And even those that haven’t, have plans to do so in the future.
According to the Visa Global Merchant eCommerce Study, 66 percent of businesses that sell online are already selling cross-border, accounting for almost 31 percent of their revenue. Additionally, cross-border eCommerce is not about to slow down, with 66 percent of businesses not currently selling internationally planning to do so soon.
As the recent holiday season proved, consumers are shopping online more than ever. In fact, according to Mastercard SpendingPulse™, holiday retail sales increased 3.4 percent while online sales grew a robust 18.8 percent compared to 2018.
This growth of eCommerce has driven global parcel shipping volume to an all-time high as package volume hit 2.75 billion over the peak holiday season, well above the projected 2.45 billion. And more of those packages are crossing borders and having to clear customs.
As the new decade begins, it is a great time to look back while we continue to move ahead. 2019 was a busy year in parcel shipping with a number of trends worth noting.
Global parcel volume reached 87 billion in 2018, up from 74 billion parcels in 2017, and is expected to reach 200 billion by 2025, according to Pitney Bowes. In fact, the largest internet retailer alone delivered 3.5 billion packages globally through its in-house carrier service in 2019. But it was also a busy time for shippers faced with new challenges as they work to deliver more packages to more customers from more places.
Aunt Alice’s sweater, you thought she’d love. Bobby’s baseball glove that would have fit two years ago. Your best friend who never likes anything. Everyone has people in their life that are difficult to buy for.
There was a time when returning items was not only an insult, it was a chore. Yankee Swaps were built on last holiday’s unwanted gifts. However, times have changed and not only have post-holiday returns lost their stigma, they are expected and are an important buying decision factor. This has left retailers not only scrambling to get items delivered during the holiday shopping rush but anticipating a record number of returns as well.
From cranberry sauce to pumpkin pie, to spending time with family and friends, Thanksgiving in the United States is about tradition. Last year, we started what we hope to be a tradition of sharing what we are thankful for here at Pierbridge with our readers, customers, and partners.
At Pierbridge, we have had a lot to be thankful for this year. As we in the U.S. get ready this week to spend time with friends and family to give thanks for what we have received the past year in our personal lives [and eat that pumpkin pie], here are some of the things for which we, as a company, are thankful.
Not all heroes wear capes. Some just help their company save money and time when shipping while meeting customer demands for same-day delivery.
Incorporating same-day delivery into your omnichannel shipping strategy can be complicated. Get it wrong, and you are the customer service “Riddler.” But getting it right will make you the hero.
Increased delivery speed, as well as white glove and specialized services are ways that your heroism can give customers more choice and a better experience with your brand. B2C shippers can get a wedding dress to the chapel on time. B2B shippers can get a mission-critical part delivered before excessive downtime.
It was a busy time in Denver last week as Pierbridge and Microlistics teamed up at the Gartner Supply Chain Planning Summit to showcase their “Pick, Pack, Parcel” solution.
Well, as 3PLs grapple with the challenge of booming eCommerce shipping, they have increasingly turned to omnichannel shipping strategies across the supply chain. One strategy gaining a hold is to create a warehouse-in-a-warehouse.
Retailers looking to capitalize on the booming growth of online shopping are increasingly taking an omnichannel approach to their supply chains. Perhaps, the one place they have the biggest edge over pure-play eCommerce businesses is the ability to leverage their brick-and-mortar footprint for quicker and cheaper shipping options using a ship-from-store strategy.
While retail sales are still strong, with the National Retail Federation (NRF) anticipating the number to top $3.8 trillion this year, most traditional brick-and-mortar locations are trying to adapt their square footage as the cost of space adds up while shoppers continue to split time between making a trip to the store and shopping via the internet – increasingly while on the go. In fact, eMarketer forecasts that mobile commerce will account for 72.9 percent of global retail eCommerce sales by 2021.
If you start the countdown for the all-important holiday shopping season from the day after Thanksgiving through Christmas Day, it can last anywhere between 25 and 31 days in the United States. The moving target of Thanksgiving each year is the variable that can shorten or lengthen the shopping season, since the fourth Thursday of November can be anywhere from November 22 to November 28.
This year, it's November 28, the latest it can be, so the shopping season is six days shorter than last year, and is the shortest since 2013. That has retailers starting sales a bit later than usual, with less time to fulfill orders. But customers will still expect shipments to arrive on time.
Become a better parcel shipper to reduce costs, increase margins, improve customer service, and stay competitive. Stay informed on the latest trends in shipping and parcel transportation management. Delivered regularly by email and through social media.