Consumers want fast delivery. And “fast” is getting faster all the time.
According to an Invesp blog, 80% of shoppers want same-day shipping. However, for many, same-day means right away. The same survey showed that 61% want their item within 1-3 hours of placing an order. Making matters worse, 49% of shoppers say that same-day delivery makes them more likely to shop online, and more than 25% would abandon their online shopping cart if same-day shipping weren’t available
Retailers are rushing to meet those demands as 51% offer same-day delivery and 65% plan to offer it within two years. And this is reflected in the growth of the same-day delivery market.
The same-day delivery market in the United States is projected to grow by $9.82 billion between 2021-2025, according to Technavio’s latest market research report. The research firm estimates that the same-day delivery market in the U.S. will progress slightly more than 20.3% CAGR.
However, increasing same-day delivery takes more than just a promise. It takes a multi-pronged approach to make it a reality.
- Omnichannel—to keep costs in check and delivery times tight, retailers are increasingly adopting an omnichannel shipping strategy. Be it shipping from regional distribution centers and warehouses, using 3PLs to fulfill orders, drop-shipping from manufacturers, or using storefronts for shipping to get orders to customers same-day or within hours; retail omnichannel shipping is vital for same-day delivery.
- Multi-carrier network—to get orders into customers’ hands takes an agile multi-carrier network consisting of national, regional, local and hyper-local carriers. As more carriers, couriers, and gig economy companies move into parcel delivery, retailers will have more choices to manage.
- Rate and Route Shopping—shipping from various locations using various carriers can drive the same-day delivery costs sky-high. Knowing what the costs and services are available in real-time can save retailers time, money, and headaches.
Once the domain of big cities, same-day delivery is becoming essential everywhere as retailers and eCommerce companies compete for customers’ dollars and loyalty. Of course, with the benefits of new logistics strategies come plenty of challenges to manage them.
Learn how the right multi-carrier management solution like Transtream can help retailers manage the challenges and turn same-day shipping into a competitive advantage.