The past years have been volatile for shippers, and 2023 will be no different. The recent rate increase from FedEx and UPS is the highest General Rate Increase (GRI) in a decade, and USPS will be implementing another rate increase this month.
Luckily, there is a way you can combat the rising costs of shipping - with Zenventory. Keep reading to find out how Zenventory can help you save money on shipping (and become more efficient).
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2023 Shipping Cost Increases
Before we dive into how you can save on your shipping costs in 2023, let’s first take a quick look at the rate increases for 2023.
FedEx and UPS
FedEx and UPS are known for using similar pricing strategies. As of January 3, 2023, FedEx and UPS both implemented an average shipping increase of 6.9%. (If you had to ship recently, you might have already noticed the price increase this year.)
Unfortunately, 6.9% will not be the only increase you see with these shipping carriers. This average increase does not take surcharges into account, many of which have increased more than 6.9%. Oof!
While the price increase for both FedEx and UPS has already taken effect, USPS rate adjustments will start on January 22, 2023. The rate adjustments will also affect multiple USPS shipping options like the following:
- First-Class Package Service (FCPS) will increase by 7.8%
- Priority Mail Express will increase by 6.6%
- USPS Retail Ground prices will increase by 6.4%
- Priority Mail will increase by 5.5%
This new rate adjustment from USPS comes just three months after their other significant rate hike in July, 2022.
Also, another unfortunate element is that this rate hike is expected to be the first of two USPS rate hikes in 2023 (the second rate hike is expected later this year.)
The Culprit of Rate Hikes: Inflation, Inflation, Inflation
Identifying the reason for the 2023 shipping rate increase for FedEx, UPS, and USPS needs no introduction. Inflation is the primary (and sometimes only) reason that shipping companies are attributing to these new prices this year.
3 Ways to Save Money When You Ship with Zenventory in 2023
If the projections for 2023 hold, you can expect that this year, and the coming years, will be even more successful than 2022 regarding online sales. That is great when you think about increasing your bottom line and growing your company, but it can also mean that any headaches or stress you encountered last year will not be going anywhere. So, get ahead and start finding ways to help make your life easier.
When you sign up with Zenventory, get the lowest cost USPS shipping rates - anywhere. Zenventory saves you up to 84% on your USPS shipments!
#1 - Save Up to 84% On Your USPS Shipments
#2 - Rate Shop to Find Your Cheapest Shipping Option
Why Is Carrier Rate Shopping Important?
When shipping items of various sizes and weights, and to wide-ranging destinations across the country and beyond, not all shipping carriers are alike. This means that for every package you send out, you should check the other carrier shipping rates to see what is the cheapest option for your company. Rate shopping and continuously checking to make sure you are using the cheapest option for each individual order can help you keep some more moolah in your pocket.
Can an Automated Rate Shop Tool Help You?
Whether you are shipping out a handful of packages or hundreds or thousands, checking each and every carrier manually can range from mind-numbing to impossible if you have relationships with many different carriers. That is where an automated shipping rate shopping system can help you choose the best shipping service with a click of a button.
How Zenventory Helps You Find the Cheapest Shipping Option
Zenventory’s carrier rate shopping feature auto-selects the best shipping service for each and every one of your packages (from 1 to 1,001). Using Zenventory, automatically optimize every shipment for the lowest cost to get the package there on time.
#3 - Eliminate the Cost of Other Apps - Zenventory Does It All
Whether you’re a small business or a large corporation, software-as-a-service (SaaS) is a part of your company strategy. There’s no avoiding it. However, do you know the cost you pay for every application your business uses? If you don't, the amount might surprise you. For starters, the average amount a small business spends on software is $5,736 per employee.
Use Zenventory’s All-in-One E-Commerce Operations Platform to Save You $$
When you use Zenventory, you gain the functionality of multiple apps - in one platform. From inventory to order management to shipping, Zenventory does it all.
Ready to Save Money with Zenventory?
Let’s Get to It!
With Zenventory, you can be up and running in a matter of days, not months. So, start saving money and get shipping!
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