E-commerce has boomed in the last decade, with 2020 seeing a staggering 32.4% increase year over year in sales.
Because of this growth, there’s an all-time high demand for the warehousing space necessary to store all the products awaiting online purchases. Pair that demand with sometimes sky-high pricing for warehouse space and many retailers are seeing the squeeze of needing more space but either not being able to find any or not being able to afford the space they do find.
If you’re one of the many online retailers searching for warehousing space right now, here are 3 tips to help you find the space you need even when demand is high:
Understand Your Pain Points
If you’re searching for new warehousing space, that means you’ve got at least one point of struggle with your current setup. However, your struggles don’t always simply boil down to “I need more space.”
Instead, think of all the issues you face with your business.
Are you losing business because you can’t seem to get products into your customers’ hands quickly enough? Do you not really have a handle on how much inventory you really have? Are you truly just outgrowing your current space?
If you aren’t able to really identify the pain points of your operation as a whole – not just your warehousing – you may just be slapping a bandage on your problem instead of treating the actual source of your struggle. Take the time to carefully consider your business as a whole when thinking about your need for new warehouse space and you may be surprised to find that a different solution presents itself.
Consider Flexible Warehouse Options
With demand for warehousing space increasing, it will become more and more difficult to find space that you can dedicate to just your business. As a result, it may be necessary to consider alternative, flexible solutions.
For example, utilizing a shared-space model where your business’ products are stored in the same warehouse as another business’ products may be necessary. This spreads out the costs for everyone and opens up more possibilities for properties.
When flexibility becomes a consideration, many small businesses turn to partnering with a 3PL.
A 3PL allows your business to access a wide array of warehousing space, and that space can scale up or down depending on your individual needs. This means, if you have a busy season where you’re moving a lot of product, your 3PL can open up more warehousing space for your products, and you aren’t stuck paying for unused space during a slowdown.
Your 3PL Partner on the East Coast
If you’re looking for a flexible, responsive solution to growing your business, Cannon Hill Logistics can help. We offer a variety of services small businesses need to take things to the next level, and you choose what you want us to handle. Let us design a custom logistics solution for you – Call today for a quote!