In a time of economic slowdowns and rising costs, retailers are seeking new ways to reduce expenses and maintain profitability.
While packaging supplies may not be the first area that comes to mind, there are three surprising methods that can help businesses save money and improve their bottom line.
Using less packaging
One effective way for retailers to save on packaging supplies is to explore source-reducing options that utilise less material. For instance, tear- and water-resistant mailers, which are significantly cheaper than corrugated boxes, offer a cost-effective alternative.
These mailers also have a smaller dimensional weight, further reducing costs.
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In addition to cutting material expenses, retailers can adopt high-performance products that not only reduce material usage but also promote sustainability. By switching to pre-stretched or high-performance stretch wrap, businesses can achieve a more secure load during transit while using less material per wrapped pallet compared to heavy, conventional stretch wrap.
Embracing packaging consultations and testing a wide range of products such as bubble-out bags, centrefold bags, shrink film and tubing can lead to both cost savings and a reduced environmental impact.
Leveraging the power of online stores for packaging supplies
The emergence of e-commerce stores dedicated to packaging supplies offers retailers a convenient and cost-effective solution.
Traditionally, retailers have had limited options when procuring packaging supplies, either relying on a national packaging supplier’s online catalogue or spending extensive time calling and pricing out regional suppliers.
However, a new trend in the industry is the rise of e-commerce stores specialising in packaging supplies.
One example is SupplyStream, a proprietary software powering Trinity’s new website. It standardises data to provide retailers with the quickest lead times and lowest pricing on any product based on the shipping postal code.
By leveraging drop-shipping policies, retailers gain access to a vast catalogue of packaging supplies while enjoying the convenience of online shopping. SupplyStream not only provides instant packaging decision-making information but also offers a user-friendly shopping experience with high-quality images that resemble familiar e-commerce sites.
Opting for local suppliers through these platforms not only saves transportation costs but also contributes to sustainability efforts by reducing carbon footprint.
The combination of convenience, cost savings and sustainability makes online packaging stores an ideal solution for retailers aiming to reduce expenses in the face of economic challenges.
Ensuring uninterrupted supply chains
Partnering with packaging suppliers with well-established networks can prevent supply chain breakdowns and meet customer demands.
Supply chain disruptions have become more prevalent in recent years, leading to material shortages and dissatisfied customers. To ensure business continuity, retailers can form partnerships with packaging suppliers that have robust supplier networks encompassing multiple distribution centres.
By diversifying their supply sources, retailers can safeguard their access to necessary packaging materials even during supply chain disruptions. This proactive approach prevents delays and ensures that retailers can meet customer demands without compromising packaging quality or cost.
Pack in the Savings Despite the current economic challenges, innovative solutions for sourcing packaging supplies are revolutionising the way businesses make their purchasing decisions.
By adopting lesser-known strategies to reduce material usage, leveraging the convenience of online packaging stores and establishing partnerships with suppliers possessing multiple distribution centres, retailers can save significantly on packaging supplies.
These cost-saving measures not only provide immediate relief but also position retailers to thrive when economic conditions improve.
By embracing these innovative approaches, retailers can navigate economic slowdowns with resilience and emerge stronger in the long run, reinforcing their ability to adapt and succeed in the ever-evolving retail landscape.