1) Introduction
Time is of the essence in the modern world. Ever since the ecommerce sector was growing, the need for faster shipping methods was always in demand. This is why carrier companies started to offer expedited shipping. While this method does allow for faster delivery, it does not have a time limit. Therefore, the service and delivery network is widened, and you can provide faster shipping options to your customers located in remote corners of the globe.
However, expedited shipping can put a strain on your delivery budget. On the other hand, the improved delivery speeds have shown to have an increase in revenue and conversion rates. Let’s take a more critical look at the Expedited Shipping method to get a better understanding of the cost-benefit ratio of the method.
2) What is Expedited Shipping?
Expedited Shipping is a shipping method where the cargo or the parcel moves through the supply chain of the carrier without minimal or no stops. This reduces the delivery time significantly and allows ecommerce businesses to deliver their order much faster. For example, if an order takes 7-8 days to be delivered through the standard service, expedited shipping can deliver the same order within 3-4 days.
The usual expedited shipping does not have a predefined delivery time. However, if you have orders that have to be delivered within a specific time frame, then you can choose the upgrades to expedited shipping like overnight shipping, next-day delivery, same-day delivery, etc. As every supply chain is global these days, many carriers have started to offer expedited international deliveries that can reduce the delivery time by over 50 percent.
3) 4 Key benefits of using Expedited Shipping
As the expedited shipping option is likely to cost you more than standard shipping, you must understand its benefits. This will help you in analyzing the cost-to-benefit ratio of the shipping method.
3.1) Attract New Customers
As you can provide quick, hassle-free deliveries to your customers, your brand value and image will improve, allowing you to attract new customers. Faster Shipping and delivery can be an excellent perk to attract new customers, especially in the current ecommerce market.
3.2) Lowers Warehousing cost
Since you will process orders much faster, it will save you the expense of storing the order until the order is picked up. While this may seem insignificant for everyday items, the shelf space and warehousing costs make up a significant portion of your fulfillment costs.
3.3) Reduced Risk of Damage
A shipment makes little to make more stops on its eCommerce fulfillment journey in the expedited shipping method. This reduces the risk of the shipments getting lost or damaged. Along with this, the quicker transit process minimizes the risk of damage due to the minimal handling. The low-damage risk makes it an ideal option for companies that deal in perishable or high-value goods.
3.4) Better Conversion rates on the Checkout page
According to cart abandonment stats, many customers are likely to abandon their carts at the checkout if the shipping time is more than expected. Choosing the expedited shipping option allows you to improve your conversion rates on the checkout page and provide a better delivery experience to your customers.
4) How does Expedited Shipping Work?
In general shipping, the consignment transport systems might go through several stops like fulfillment centers and warehouses, resulting in slower times between points A and B. But with expedited shipping, the transport vehicle does not stop in between, and to further speed up things, carriers use multiple drivers to avoid any breaks in between.
In recent years, drones have been utilized to provide super express speeds and would become an ideal candidate for expedited shipping. This results in curtailing the delivery time considerably. Moreover, to fast-track the shipping process, one part of the transportation will be done via airways and the rest through roadways.
5) How fast is Expedited Shipping, and how much does it cost?
Expedited Shipping is a relative term. The delivery time of the method is relatively faster than the standard shipping service. For example, if an international shipment takes place within 18-20 days, the expedited shipping method can expect delivery within 10-14 days. However, there is no predefined time limit by which the shipment will be delivered.
However, the carrier has to move the parcel through its supply chain without any breaks. Since this increases costs, most carriers charge a premium for expedited services. If you want your expedited delivery within a predefined time frame, you will probably have to pay almost double what you would have paid for the standard service.
6) Top 3 carriers that offer expedited shipping
With urgent and quicker deliveries becoming a standard in the market, most prominent carriers offer expedited shipping. Along with these, they offer expedited shipping options with a predefined time frame that allows customers to deliver their parcels within a predefined time frame. Even if all carriers offer expedited shipping services, only a few players in the market provide worthwhile service.
6.1) FedEx Expedited Shipping
FedEx is one of the most reliable express carriers across the globe. You get multiple expedited shipping options with FedEx, including the FedEx Same-day, FedEx Express, FedEx Express Saver, FedEx Next-day, etc. The carrier also has overnight deliveries that allow you to deliver parcels before 9 AM the next morning.
6.2) UPS Expedited Shipping
UPS is one of the reliable carriers with a delivery network in over 220 countries. The carrier does offer standard, expedited shipping for domestic shipments like same-day delivery, next-day delivery, priority mail, etc. The carrier’s most unique offering is the WorldWide Expedited option which allows you to deliver a parcel to 220 countries and territories within 2-5 business days.
6.3) DHL Express
DHL is one of the most prominent European players in the logistics sector. The carrier has multiple expedited shipping solutions on offer, including same-day, day-definite, and time-definite express deliveries for international deliveries.
7) Conclusion
Every customer wants their order delivered as quickly as possible. Delayed or extended delivery times have shown an increase in order cancellation and return rates. As the growth of the ecommerce sector and the logistics sector goes hand in hand, expedited shipping has been made common practice. These shipping options make it easier for ecommerce businesses to improve their customer experience and retain their clients.
8) FAQs
8.1) Can I get a refund if my expedited shipping is delayed?
Every carrier has different terms and conditions with the customers regarding expedited shipping. When expedited shipping comes with a money-back guarantee, you can be eligible for a refund if the carrier does not deliver within the specified period. To claim the refund, you will have to register a complaint with the carrier's customer support.
8.2) What is the difference between Overnight Shipping and Expedited Shipping?
Some marketplaces offer overnight or next-day shipping as a part of their regular shipping practices. In those cases, expedited shipping is slower than overnight shipping and does not need an additional cost. So, make sure to know the shipping speeds available with the seller before expediting the process.
8.3) Can I track my Expedited Shipping order?
Yes, expedited shipping can be tracked similarly to regular shipping. Some carriers provide dedicated apps, while others offer reference numbers that can be used on their website to track your shipping. Carriers also display order status on the app and provide timely notifications through emails and SMS.