Peak season leads to changes in the market. Are you prepared?
Peak shipping season (also known as peak import season) takes place between August and October each year and is when an increase in shipping demand occurs due to back-to-school preparations and the upcoming holiday season. Historically, this time of year brings increased demand for each transportation mode, which can cause higher prices and tighter capacity. Each year sets a new stage of hurdles, but with the proper preparation, a plan can be put into place to help you ship successfully.
2023 outlook
Because of the influx of shipping needs between August and October, tightened capacity and freight volatility are common occurrences. Ocean, air and road transportation are typically all affected, and transportation costs usually rise due to the volume of loads that need to be moved. When there are more loads than equipment available, prices rise.
However, forecasts for 2023 are looking good for shippers. Volumes dropped for ocean, air and road transportation through the end of 2022, partly due to economic changes and high inventory for products already on shelves. This may mean good news for you when you ship this year during peak season, though it’s important to remember that this can change at any time.
See our market updates for more on current market trends:
Peak season transportation solutions
Although rates may remain low, there is still a probability of rate spikes. Here are a few things you can do to adapt to a possibly volatile market during this year’s peak season and ensure your load is delivered on time:
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Consider alternate capacity options. Remain flexible in how you ship to get your load delivered on time. Capacity may be tight in your normal mode, while another could offer better rates or faster transit.
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Prioritize loads. If capacity tightens during logistics peak season, there is a greater chance your load may roll if shipping on the spot market. This translates to delays. Prioritizing your loads can keep you ahead of the curve when dealing with tightened capacity.
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Work with a trusted transportation partner. To avoid mishaps and navigate rising rates, ensure you work with a trusted logistics company. Working with someone familiar with your business will help you navigate any changes in rates and capacity.
Peak season transportation solutions
With 99 peak shipping seasons under our belt, ArcBest has the experience you need to navigate peak shipping season 2023. Our access to all transportation solutions gives us unique insight into the market and allows all your transportation needs to be served. Learn more about our solutions for shippers.
