Having your own e-commerce store allows you to reach customers all over the world with your products. But shipping these products can sometimes prove to be a headache-inducing nightmare. Shipping can get expensive and affect your bottom line if you’re not careful. By understanding the various costs involved, you’ll be better able to make decisions that will create an enjoyable experience for you and your customers. Here’s what you need to know about international shipping rates for your business.
Factors Influencing International Shipping Rates
When it comes to international shipping, rates will vary depending on the shipping company you choose and where they are able to deliver to. The e-commerce platform you use may even offer discounted rates from some of these companies. Other factors that can influence cost include the type of product you’re shipping, the distance it will be traveling, and whether you use postal or express carriers. The cheapest way to ship internationally is to use multiple carriers. Check each freight shipping company’s rates and make a list of the lowest rates based on the type of package and location.
You can also reduce shipping costs by making the product packaging lighter. Freight shipping companies often offer free boxes and packaging materials that can help you cut down the overall cost. Avoid shipping express as much as possible. Overnight or 2-day delivery can be 50% or more in some cases than the typical delivery fee.
Calculating Additional Charges
When determining what to charge for your product, you will need to consider additional charges outside of freight shipping costs. You may want to include a handling charge due to the extra time and attention it takes to ship a product internationally. If you have employees that are packing your products, you may need to factor in their hourly wages. Government customs taxes will also need to be considered.
Calculating all these charges ahead of time is extremely important. You don’t want to charge your customers too much or too little. If you can absorb these costs effectively into the price of the product, it can save money for both you and your customers in the long run. It will also help you determine which shipping strategy is best for your business.
International freight shipping can be tricky to navigate, but it is completely manageable. Overcoming shipping hurdles involves doing your homework thoroughly and using the information to make decisions that are best for your budget. Understanding all the costs involved in shipping across the world can help you deliver your products to happy customers and increase your profit margins.