When it comes to selling internationally, shipping is the primary aspect on which the business relies. The trick lies in finding an economy international shipping solution that covers a wide global network and delivers on time, helping you increase your profits. Many shipping services are provided by various courier service providers; however, you can always choose from standard, economy, or expedited shipping. By far, budget-friendly international shipping is the cheapest way to ship a package anywhere outside the country, as it is a cost-effective solution that balances affordability with reach to meet the global market.
If your package is not time-sensitive, economy international shipping is your best bet and is preferred by most customers when compared to express shipping. It all depends on their expectations and how much they are willing to pay. However, it is a fact that budget economy international shipping helps customers save a lot of money, especially when there are a large number of packages to be delivered to many locations worldwide. In this blog, we will explore the ins and outs of economy international shipping, its benefits, the factors to consider, comparisons with express options, etc. By the end of this blog, you will have a clear idea of how to use economy shipping to expand your global reach with maximum possible profit margins.
What is Economy International Shipping?
Economy international shipping is one of the most affordable means of transporting packages across the globe for sellers. Economy international shipping is one of the best options to transport fragile or bulky goods, though packing them appropriately is crucial to enabling your product to reach the destination intact. International customers prefer the packaging material to be made of biodegradable Styrofoam, as it is eco-friendly, economical, and inexpensive. Economy international shipping packages are generally transported through land, sea, and air routes, which also makes them affordable for sellers as and buyers.
Economy international shipping is appropriate for customers and sellers who want an affordable option to ship non urgent items. With economy international shipping, you can widen your market reach, consider the various time zones, and increase sales and customer loyalty for your brand. Economy international shipping is a strategic choice for sellers who want to balance transportation with affordability and global reach ensuring their presence and relevance in the international market.
Benefits of Economy International Shipping
There are several benefits of choosing economy international shipping:
- Cost-effective: The biggest benefit of international shipping is its affordability. The lower shipping costs help sellers offer more competitive prices to their customers, provide free shipping options, attract different customers, etc. It is generally used to ship bulk and low-value items, as the low shipping fees help sellers maintain their profit margins.
- Flexible shipping options: Economy international shipping helps sellers provide their customers with multiple delivery or shipping options. This is a good option for non-urgent deliveries. Flexible and multiple delivery options help sellers widen their reach, increase sales, and improve bran visibility in the market.
- Wide market reach: Economy shipping benefits sellers by expanding their businesses to international levels without spending high costs on global shopping. Offering affordable shipping options also attracts customers from different regions and increases profits for sellers.
- Environmentally friendly: Economy shipping has less environmental impact as it includes slower transportation methods like sea, which has a lesser carbon footprint than airfreight. This is an ideal option for sellers who want to promote sustainable and environmentally friendly shipping practices.
- Increase in sales: Affordable shipping options decrease cart abandonment rate. It enables shipping bulk items, which will provide more profit to sellers and increase customer satisfaction and loyalty towards your brand.
Key factors to consider in Economy International Shipping
There are many factors that should be considered while choosing economy international shipping method:
- Shipping time: Economy International shipping is slower, so you should consider shipping non-urgent items through it while maintaining customer expectations and timelines.
- Package size and weight: The weight and size of the package to be delivered are used to calculate the price of transportation.
- Shipping costs: Ensure you compare different shipping costs, including the applicable surcharges, without compromising on service quality.
- Customs and duties: Consider the customs, duties, and regulations of the destination country or location, as they can impact the delivery time and cost.
- Tracking options: Economic international shipping allows you to offer limited or full tracking options to customers to keep them informed about their packages.
- Return policy: In case of any mishaps, plan for return shipments beforehand, as they might take longer to be shipped and cost more.
- Insurance coverage: Consider the type and level of insurance coverage that you can provide for fragile and precious items.
Difference between Economy and Express International Shipping
The key differences between economy and express international shipping are as follows:
| Aspects | Economy international shipping | Express international shipping |
|---|---|---|
| Delivery time | The delivery time in economy shipping is typically longer like 7-21 days or more | The delivery time in express shipping is faster, usually 1-5 days |
| Tracking | This offers basic basic tracking with few updates | This offers detailed and frequent tracking updates |
| Cost | This option is more budget friendly | This costs more due to its premium pricing |
| Reliability | You can rely on economy shipping, but it is prone to occasional delays | It is highly reliable with guaranteed delivery times |
| Package weight and size | It allows large and heavy packages | It has strict size and weight limits |
| Customs clearance | It has a standard processing time | It offers expedited process timings |
| Best for- | Cost saving and non-urgent shipments | Time sensitive and urgent deliveries |
| Areas covered | It covers wide area but may exclude many remote areas | It offers extensive area coverage, including remote areas |
| Insurance | It provides basic insurance coverage with different add on options | It includes high default coverage options |
| Sustainability | Economy shipping is generally more eco friendly because of consolidated shipments | Express shipping sustainability varies as it is generally less eco friendly because of speedy delivery times |
Common challenges in economy international shipping
International shipping is cost-effective, but it comes with different challenges:
- Customs delays: Economy shipments can get stuck in customs for a long period in case of incomplete documentation.
- Long transportation times: Economy shipping takes longer to deliver, which can further lead to unsatisfied customers and possible negative feedback.
- Higher risk of loss and damage: Because of longer transportation, processing, and handling times, there is a great risk of packages being lost and damaged in the process.
- Limited tracking updates: Tracking updates in economy shipping are generally less detailed, making it harder for sellers to provide updates about their shipments.
- Complex return process: Handling returns is a complicated and expensive process in economy shipping, especially when dealing with international customers.
- Limited insurance coverage: It has basic insurance coverage, which does not include the full value of the shipment, leaving sellers at risk of loss and damage.
Conclusion
International shipping process is complex but can be balanced with economy international shipping. Economy international shipping is reliable and profitable, and helps you keep your customers satisfied. While it is true that it is not the fastest option to ship your packages, it is a balance between affordability and wide global reach.
As a seller, it is important for you to choose the right shipping method, as it’s a key factor in your business’s success. By understanding the economy of international shipping, you can make sound decisions that will benefit you and your customers. Consider economy international shipping for your non-urgent deliveries. Be ready to make the smart move and start incorporating economy shipping into your strategy to help your business grow.
