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The pandemic has transformed the process of buying and selling by bringing about a virtual e-commerce revolution. Increased digitalization, burgeoning online payment options, combined with lower costs and ease of reduced travel costs and time, have all contributed to this trajectory. Consequently, the global express delivery market has shown a corresponding rise and is projected to reach USD 484.38 billion by 2030, registering a CAGR of 6.4% from 2021 to 2030. In India alone, the last-mile delivery sector is on a steady upward swing and is estimated to have a market size of $6 billion by 2024.
Express delivery, once restricted to the food industry, is now making inroads into several other industries. For instance, healthcare and FMCG goods and services are increasingly leveraging the capabilities of express delivery providers for faster and hassle-free product dispatch and distribution. According to the Delivery Delight Index Survey conducted by Shadowfax and Red Seer, customers are willing to pay ₹44 per delivery for getting express delivery from e-pharmacies.
Brands that prioritise faster deliveries create higher brand value, improving chances of customer loyalty. Especially with technological advancements, express deliveries will continue to boom regardless of location. This trend is fast becoming one of the key factors accelerating sales.
With omnichannel retail becoming increasingly complex, the Distributed Order Management (DOM) system is the best way to optimize fulfillment so that orders are delivered to customers on time and at the lowest possible cost. The system provides a bird’s eye view of orders and shipments, as well as a peek into the product status. As brands increasingly use social media, smart applications, and third-party retail platforms to manage inventory, implementing DOM helps provide unified information on product status. For instance, at Shadowfax, the Unified API enables the client to view the DOM and location for pickup. The Unified API helps allocate the fastest delivery mode, which can be express, same day delivery, or network-based delivery.
Electronic Data Interchange(EDI) performs the same function as an API (Application Programming Interface). It describes how systems communicate with one another so that data can be exchanged between them. In today’s era of digitization, businesses need to exceed expectations, and therefore must adopt increasingly more efficient practices - this is where the EDI system comes into play.
Businesses benefit from this system is by being able to track shipments & orders in real-time, and monitor delivery status. Businesses can lower costs, increase speed, and enhance overall business efficiency. The system also helps optimize orders, automate time-critical transactions, and reduce chargebacks.
It is crucial to understand where your business lacks services and leverage that space to grow its presence. To do this, you must understand your buyer personas and what channels your business would like to target. Be sure to tailor your message to fit each buyer persona. Additionally, offering the best prices and the best services will help build demand for same-day delivery and enable you to reach the right audience. Organizing your business is one of the key ways to achieve high customer satisfaction. Once your customers have experienced such a high level of service, they will be reluctant to settle for any less.
Keeping up with the complex global market situation is challenging. Since companies require specialists who have expertise in all regions and capacities, partnering with third-party logistics is the way to move ahead. Multiple businesses offer end-to-end services that help broaden your business’s horizons, making the procedures more efficient and timely. Furthermore, outsourcing logistics provides enterprises with the flexibility and scalability they need to utilize supply and distribution resources as required and help your company focus on its core competencies.
The 3PL services also help determine which areas have the greatest demand for hyperlocal shipping to allow inventory to be routed close to those areas and reduce costs. It helps amplify your growth by emerging into new markets and areas while accommodating your needs in both busy as well as slow times. Retailers must focus on utilizing these services, especially when they need to overcome any supply chain challenges.
To maximize the utilization of your workforce, an innovative and recommended method is to assign a single agent for both pick-up and delivery service for a specific area. This reduces travel time and planning time, resulting in better service efficiency.
These are just a few of the ways to optimize your express delivery services. It may be challenging to meet the requirements of your customers. However, with the right technology and processes, it is possible. Furthermore, adapting to same-day delivery services is something brands and retailers of any size must do.
It is a must-have service and is here to stay and become bigger. Additionally, on a same day delivery basis expedite the adoption of E-commerce supply chain optimization, and they also enable E-commerce players to drive loyalty programs and up-sell and cross-sell products. People are willing to pay for convenience and good service.
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