Statistics That Will Change How You Operate in The Future

Written By ID Parcel & Mail Solutions Staff

SHARE

Understanding market conditions and trends can help you make the necessary adjustments required to operate your ecommerce, parcel or mail processing operations more efficiently and effectively as the market continues to evolve. Here are a few statistics that speak to the current, and future, state of the marketplace. 

The Cost of Regular Postage Increased by 5.5% in Late 2021

In 2021 we saw unprecedented postal rate increases including mid-year bumps and a host of Q4 fees and surcharges. Rates are forecasted to continue rising faster than average. Since postage costs can represent a significant percentage of the total mailing, it’s critical that organizations that process mail and/or parcels look for ways to mitigate these costs. Automation can significantly reduce your postal costs. Contact ID Parcel & Mail Solutions to learn more.

Average Hourly Earnings Have Ticked Up By 4.8% From November 2020

According to CNBC, today’s labor shortages are only a glimpse into longer-term employment trends that businesses must prepare for. They point to not only COVID related issues, but the surge in Baby Boomer retirement, declines in labor force participation amongst millennials, ebbing birth rates and falling immigration numbers. As this trend continues, labor costs will continue to rise as organizations compete for talent by offering better benefits and higher pay. Automation reduces labor needs significantly. 

More than 80% Of Shoppers Feel Regular Order Communication Is Needed

A vast majority of consumers are demanding regular order communication, according to LivePerson, Inc. If your operation is not equipped to effectively track packages, and automatically update customers about the status of their orders, you are at a significant competitive disadvantage. Automation systems equip your organization with tracking capabilities. 

43% of Shoppers Abandon Their Carts if the Shipping Charges Are Too High

This is in accordance with a recent study by PayPal. In addition, a majority of consumers (66%) expect free shipping on every purchase they make online, according to a recent Consumer Trends Report issued by Jungle Scout. Ecommerce organizations can increase prices to meet this demand, but the reality is that more and more are absorbing a chunk of these costs to remain competitive. When this happens cost reduction must be found in other places. Automation can help here.