An important aspect of opening your store to a wider audience is being capable of shipping outside your local area. Shipping can be very expensive, however, especially as carriers continue to raise their rates every year. With e-commerce becoming increasingly prevalent during the pandemic, here are some simple tips to reduce your shipping costs.
Buying in Bulk
Rather than only buying the supplies you need for the near future, it’s a good idea to instead stock up on shipping supplies, so you’re ready for sudden large demands. Especially with COVID still going on and most businesses moving to digital operations, shipping will be your business’s lifeblood, and there will be no such thing as “too much” shipping supplies. This works in your favor because buying in bulk often comes with better deals and prices than creating smaller, more specific orders. Buying in bulk could not be more ideal for catering to both the material and financial needs of your business.
Pre-Paid Shipping Labels
Similarly, pre-paid shipping is also a great way to cut down on costs. Many sources offer upwards of a 20 percent discount for buying shipping labels in advance. Similar to investing in bulk supplies, you will buy a larger quantity of labels that you can then apply to orders as needed. You should have no issues using them all, either, as you can anticipate most of your orders being online for the foreseeable future.
Third-Party Insurance
The last of our simple tips to reduce your shipping costs consists of doing some research into insurance from a third party. Most carriers will charge you 80 cents per every $100 of insurance, but third parties stay competitive by instead only charging approximately 45 cents per every $100 of insurance. It may seem like you’re nickel and diming your savings, but that small change adds up quickly.
