The freight rate management software provider Freightos said Thursday research it conducted around rate quoting speed and responsiveness found that new shippers face an average wait of 90 hours to get a less-than-containerload freight quote for a shipment from China.
The research examined how top global forwarders handle online requests for quotes.
“Of the 16 forwarders that quotes were requested from, 75 percent of the forwarders did not automatically confirm receiving the request,” Freightos said. “Three of the 16 forwarders never ended up responding to the initial quote, instantly losing out on the sale.”
Five forwarders who provided quotes required multiple conversations to clarify details, citing a lack of sufficient information requested in the initial quote request, while the fastest confirmation took seven hours.
Freightos said only 45 percent of forwarders ultimately provided a quote, with the most prompt response taking 30 hours and the slowest quote taking 840 hours. Only five companies followed up after providing the quote in order to attempt to secure the business.
"Consumers start nearly every purchase with an online search,” said Freightos Chief Executive Officer Zvi Schreiber. “This behavior is increasingly taking place at the workplace as well, with more and more shippers looking for online freight services. Our research found that while the industry is aware of the incredible potential for online sales, most top forwarders have yet to take advantage of this channel. Instead, most provide a subpar online customer experience with slow, manual freight pricing and quoting.”
The research is part of a broader white paper from Freightos on the state of online logistics sales