Showing no signs of slowing down, e-commerce continues to surge around the globe. Online orders are reaching record-setting volumes with 69% of retailers reporting an increase in average online order values and shoppers growing more comfortable purchasing from global brands, evidenced by rising numbers of international orders reported by 54% of retailers, according to a recent study from Loqate. While these present promising opportunities for retailers, poor address data that leads to inaccurate fulfillment poses a major threat to success in the form of lost sales and damage to retailers’ brands.
As reported by Loqate:
- 99% of e-commerce organizations own up to failed deliveries across some portion of their orders
- 8% of domestic first-time deliveries fail, costing retailers an average of $17.20 per order or $197,730 per year
- 74% of businesses point to bad address data as the cause of up to a quarter of their deliveries failing
- One-third of study respondents either don’t verify address data or leave it up to the carrier
- 41% of consumers place the blame for late deliveries on retailers
Companies can’t afford to have delivery problems on customer orders when consumers have more options for shopping than ever before and it’s easier for dissatisfied customers to take their business elsewhere. Address inaccuracies rarely get the attention they deserve, and if left unattended, retailers risk more than upset customers. If a carrier detects the delivery errors due to a faulty address, the additional charges – which start at $18 per shipment with UPS and FedEx – quickly add up.
The easiest way to prevent additional charges and lost customers is to leverage the address verification functionality in multi-carrier shipping software. With Logistyx’s automated address verification and standardization shipping software tool, retailers can pre-emptively verify addresses and fix any problems that could result in upcharges long before the carrier arrives to pick up deliveries.
Logistyx’s address verification tool makes it quick and easy for retailers’ shipping staff to resolve delivery address questions right on the shipping line with a single platform, including the ability to:
- designate shipments as residential or commercial
- validate addresses at the street level, city, and/or zip code level
- detect multiple or near duplicate address matches
- view and/or choose address details
By taking advantage of the benefits of address verification capabilities in multi-carrier shipping software, retailers can ensure all the data input into their shipping process is accurately maintained while uncovering tremendous opportunities to reduce shipping costs and effectively fulfill customer orders.
Contact us today to learn how Logistyx’s multi-carrier shipping software can eliminate incorrect delivery addresses to avoid absorbing extra shipping costs.