Across all industries and services, prices are rapidly rising. The shipping industry is no exception.
In September 2022, FedEx announced an all-time high general rate increase of 6.9% which began on January 3, 2023. UPS quickly followed by announcing their 2023 general rate would increase by the same amount at a rate of 6.9%.
This is a tough, although not unexpected, blow for businesses who rely on shipping as a means of profit, as for nearly a decade the annual rate increase for major carriers sat even at 4.9%.
Rising shipping costs are a threat that SOCA understands all too well, as many members have shifted to an online strategy as a means of sales. This rate increase means a reduced profit margin for those businesses.
SOCA has partnered with PartnerShip to help SOCA members offset the rising costs of FedEx and Freight Shipping for their businesses.
These benefits can save your business a sizable amount of money on each shipment. Keep reading to find out more about the benefits SOCA and ParnerShip can provide your business.
The general rate increase for UPS and FedEx will be 6.9% in 2023. However, the full force of these changes could cost shippers even more.
SOCA and PartnerShip are here to help.
PartnerShip offers many benefits to help your business offset this cost increase.
However, before we dive deeper into the Benefits PartnerShip offers your business through SOCA, let’s look at the steps your business should take to evaluate its current position.
Now that we have a clear picture of the general rate increase for shipping, it is time to look at the data and determine your business’s needs. Look at your shipping profile and determine how these changes will affect your business.
FedEx and UPS may be the biggest shippers, but they are not your only option. Regional carriers are becoming increasingly viable for almost all shippers and they are offering increasingly competitive rates.
You have options. Don’t settle for a higher rate, survey the field and determine the best option for you.
Carriers understand that their rates are increasing. That leaves the door open for negotiation. When you know your options, you will be able to effectively negotiate a rate that works for your business and your carrier.
With prices increasing around every corner, your business is likely feeling the strain.
SOCA and PartnerShip are here for you.
Here are the benefits PartnerShip can offer your business when you partner with SOCA.
PartnerShip Benefits don’t stop at FedEx.
SOCA also includes exclusive freight savings that you cannot find anywhere else. PartnerShip helps members reduce their LTL freight costs and ship smarter.
Regardless of whether your business relies on express, ground, or home shipping, SOCA and PartnerShip have options for you to help you save money on shipping, especially in light of raised costs in 2023.
If your small business needs help addressing the rising costs of shipping, SOCA and PartnerShip are here to help.
View our SOCA member directory and contact your local chamber if they provide this benefit, and request a FREE quote.
Are you a chamber looking to provide this benefit to your chamber members? Email sales@PartnerShip.com or call 800-599-2902.