The global freight transport industry — responsible for getting all types of commercial goods to their final destinations by road, rail, sea, and air — is worth over $28 billion. Besides the mode of transport, this field can be divided into types by distance, type of cargo, region, and end user. The key players in the global freight transport market comprise household names that most people are familiar with, as well as industry giants that largely remain in the shadows when it comes to the general public.
Inflation has a lot to do with the cost of basic goods on the shelves. However, inflation isn’t the only factor that will affect the overall price of what consumers pay for their goods. Once you get past inflation, the second largest factor that affects consumer prices is transportation. Transportation is essential in the supply chain. Without transportation, goods aren’t going anywhere. When the price of transport goes up due to any factor, the cost of goods will naturally hike as a result of its effect on the supply chain. When warehouses and retailers pay more for goods transportation, consumers will pay more for their goods.
When it comes to retail, the landscape is ever-evolving. The entry of eCommerce has changed the way that people shop. However, even though online shopping is growing, people still like the customer experience that shopping in a brick and mortar store provides. As a business owner, balancing brick and mortar with e-commerce is more important than ever before. Offering both of these experiences to your consumer is the best way to stay in business for the long haul.