Growing demand for faster delivery times has resulted in the development of numerous online shipping solutions that are helping companies of all sizes meet orders and keep their customers happy. When you enable faster shipping options for your store online, you’ll be able to not only ensure that your customers are content but even attract new customers who want their products quickly and aren’t able to find alternatives on the internet.
Table of Content
- 1 What is expedited shipping ?
- 2 Why online stores should offer expedited delivery
- 3 How much does expedited shipping cost
- 4 Expedited shipping vs standard: Which is best for eCommerce
- 5 Is expedited shipping worth it?
- 6 Conclusion
What is expedited shipping ?
An expedited shipping option is a delivery option that promises quicker shipping rates compared to standard delivery alternatives. The trucks that have expedited delivery go from the point of pickup to delivery with no stopping to satisfy urgent shipping requirements. The concept of “expedited shipping” differs by the shipping company; however, it usually falls between 2-day and overnight shipping for most domestic delivery.
Why online stores should offer expedited delivery
Here are some advantages of offering faster delivery options to your online store.
1. Reduce cart abandonment
45 % of customers abandon their carts because of poor delivery choices. If your customers are making a purchase the checkout, do they have a wide range of delivery options that are affordable and quick alternatives?
The affordable expedited delivery option can keep shopping carts from being abandoned and improve the number of customers who visit your store.
2. Fulfil customer’s expectations around shipping time
60 % of customers have chosen between rivals due to the ease of delivery choices.
Customers today expect speedy and affordable shipping wherever they shop online. In addition, customers expect quick delivery times that they can trust. Major-box online retailers providing two-day delivery and free shipping and not providing speedy delivery options can reduce your conversion rate.
3. Create customer loyalty
The average ecommerce store earns 43 % of its revenues from repeat customers. If your customers receive their orders promptly and in time, they could become more inclined to buy from you in the near future.
However, most consumers would not shop with an online retailer after an unpleasant delivery experience or negative reviews based on delivery time, or shipping costs could dissuade prospective buyers.
Here are some important delivery statistics for ecommerce.
- Around one-in-five (22.2%) US consumers have abandoned their carts due to long delivery times.
- 50.7 % of online shoppers due to the free delivery option.
- 28.4 % do this because of next-day deliveries.
- About 60 customers have paid for delivery faster, and more than two-thirds of them have paid for a higher rate than next-day shipping.
While expedited shipping should be a part of your strategy for shipping but it shouldn’t be the sole choice. If you are offering it, you might consider reducing the financial impact it can have on your company with the option of offering it only to those that meet minimum spending (ideally higher than your average value for orders). In addition, with ever-increasing demand from customers willing to pay more to receive faster shipping, consider offering your customers a portion of the cost associated with expedited shipping.
How much does expedited shipping cost
It is important to understand that expedited shipping is more costly than standard shipping alternatives.
We’re not just talking about a few dollars. For example, express shipping may cost you up to $20 or more than delivery costs.
It also depends on the business. For example, certain companies charge more for expedited shipping than other companies.
Expedited shipping vs standard: Which is best for eCommerce
The ideal one could differ between businesses. It all depends on what your company’s requirements are. These guidelines will assist you in deciding which will be the best for you or is most suitable for you.
1. Delivery Time
Shipping is the standard shipping choice, where the delivery period is 2-to-8 days. With expedited shipping, it will take one or two days to arrive at the buyer’s destination since the product is shipped using air couriers. The package may be delivered to the recipient within the same day. Express shipping is perfect for quick and urgent delivery. However, if you’re in a hurry or are able to wait for longer, then regular shipping is the better option?
2. Dispatch from Warehouse
The time it takes to leave the warehouse in the case of normal delivery is 2-8 days. Express shipping takes around three days. In this regard, Express Shipping does have the advantage over regular shipping.
Based on the timeframe for the delivery, along with your spending budget, you have to determine which one is the most suitable for you. Standard shipping is more affordable than expedited shipping since the delivery is made via the road with surface couriers. Since expedited shipping is a rapid and immediate delivery, the cost and costs are higher because of the usage of air couriers.
4. Chances of Damage
There aren’t many intermediaries involved in expedited shipping. Air couriers deliver products straight from origin to destination without interruptions. Because the scope of handling for shipping is smaller, the chance of a damaged item occurring is also lower.
5. Shipping Cost
For expedited shipping, the cost of shipping is typically incurred along with the cost of the item. However, for regular shipping, it is possible for the shipping to be offered at no cost to the purchaser.
Is expedited shipping worth it?
There’s no universal answer to this question.
If you’re a casual buyer who isn’t waiting for products to arrive on their doorstep, speedy shipping is probably not worth the additional price. However, there are times when spending the extra cash is worthwhile, even if it’s required. All it comes to your particular requirements and needs.
But if you consider the 2022 eCommerce market, no. of persons opting for fast delivery is increasing, so to be competitive, you should go with expedited shipping.
When you provide expedited shipping to the online shop, you will not only be competing against other retailers in your field but also enhance the online shopping experience. With more and more customers looking for and expecting their purchases to arrive at their doors in a hurry, speedy shipping has become a standard operational procedure. The more you know about the way it works and the best way to utilize it to increase your sales as well as conversions more effective your store’s online presence will be.