Shipping is an integral part of an online business; you must get products to your customers somehow. At the same time, shipping constitutes a significant expense for an online business. Some freight brokers charge you so much that you might end up spending more than you bargained for. So, just maybe if you can find a way to keep your shipping costs low, you will increase profit.
Economy shipping is the best option to cut your shipping costs. You have probably heard of bulk buying and how it saves you some money; that’s precisely how economy shipping works. To save cost, a freight broker transports your parcels in bulk instead of sending them out one after another. Let us take a detailed look into economy shipping and why it may be a good option for you.
An Overview of Economy Shipping
Economy shipping simply means a cost-efficient shipping method. This means that this method of shipping is more affordable than conventional standard shipping.
Economy shipping is an excellent way to cut down on your shipping costs as you ship your packages in bulk. Even though shipping time may be longer than standard shipping, economy shipping is best if you need to transport fragile and sensitive products.
Economy vs. Standard Shipping
Economy shipping does not differ so much from standard shipping. The major differences lie in the price, time, and tracking.
Economy shipping is the most affordable shipping option you can find. Unlike standard shipping, which can only work with a minimal number of items, this method can take more items. In the end, even if the freight broker charges the same amount for standard shipping, you can ship more things, thus saving costs.
Economy shipping takes a little more time than standard shipping to deliver your parcel. But, if you spell it out to the freight broker that you need your packages delivered urgently, they may fast-track the delivery. On average, economy class parcels get delivered two to ten days later than standard shipping packages.
This is one area of consideration for many online businesses. You would not want to find out if your packages went missing in the shipping process. You can track both economy and standard shipping options; however, it depends on the freight broker you are working with.
Nevertheless, with economy shipping, scanning only happens when your customers receive their parcels. Also, because packages are grouped for bulk shipment, it may not be easy to keep track of individual packages.
Economy vs. Expedited Shipping
Expedited shipping or Express is the fastest delivery choice and has a significant advantage over economy shipping. Therefore, if you need to make an urgent delivery to a customer, it may make more sense to opt for expedited shipping. This is especially true if the item is perishable or during the holiday rush, trying to beat the Christmas holidays, for instance.
But, if you do not have any deadline to meet, economy shipping is a reasonable option as expedited shipping costs more.
Benefits of Economy Shipping
The benefits that come with shipping through economy class outweigh the drawbacks:
A Cheaper Option
The major differentiating factor between economy shipping and other shipping methods is cost, as it is affordable. The reason is that you can ship items in bulk.
Even though economy shipping takes more time, the time gap is negligible, especially for domestic orders. It might not be the best choice for international orders, though this all boils down to the business requirements.
Some freight brokers can deliver your package anywhere in as short as 2 to 8 days. This is not so far from the time for standard deliveries, which takes 3-7 or less.
Ideal for Bulk Orders and Fragile Items
With economy shipping, you can quickly ship packages in bulk at an affordable cost. Also, even if your goods need to be handled with care, the freight broker has a way of ensuring that they get to your customers in a safe condition.
Amongst the three shipping policies you can find with almost every freight broker, economy shipping is designed to reduce shipping costs. Therefore, if your target is a low-cost shipping arrangement, you should opt for economy shipping.