The Market Might Be Weak But You Can Be Strong in 2020
While the trucking industry might not be in the best market situation currently, there are some experts who are optimistic about 2020 and all that it is likely to bring. A market flip is expected to emerge this year and it’s something that can truly help the entire industry.
Here are three of the trends you’re likely to see impact the industry in 2020:
- E-COMMERCE WILL DRIVE TRUCKING
Over the past few years, the e-commerce industry has grown tremendously, and we currently live in a world where people prefer to shop online than in-store. The e-commerce industry is dependent on truckers to get their goods from one place to another, and this means that improvements in the e-commerce industry will lead to improvements within the trucking industry. Because the e-commerce industry is likely to grow further in 2020, one can be hopeful that the trucking industry also experiences some positive growth.
Tip: Use invoice factoring to keep your business cash flowing so you can capitalize on the increased shipping activity.
- FUEL COSTS CONTINUE TO RISE
The cost of fuel has always been a factor when accounting for the expenses that trucking companies incur, and the rising costs have always been a matter of concern. Trucking companies can opt to invest in alternative fuel trucks or electric trucks to cost these costs, although the upfront expense can be overwhelming. Most trucking companies opt to cut costs in other ways to make up for the huge cost of fuel.
Tip: Never pay full price at the pump. Be sure to take advantage of eCapital’s fuel discount program to save thousands every year (per driver).
- CHANGES IN PRICING
The pricing that truckers currently operate at is considered incredibly low. During 2019, the pricing that truckers worked with experienced a significant decline because of the shortage of jobs. In 2020, the pricing that trucking companies are likely to change, either for the better or worse. Either way, there is no doubt that there are going to be significant changes to the pricing when it comes to the trucking services that companies offer.
Tip: Utilize a broker network to connect with higher-paying loads.
While 2020’s landscape remains uncertain for now, eCapital can help make sure your cash is flowing so you can stay on the road. Leverage our financial strength and transportation expertise to support your business. When you work with eCapital you will have access to high-paying loads via our exclusive broker network, Fuel Discount Program with credit terms and we’ll pay your invoices in 24 hours.
Say hello to fast cash.
eCapital understands the cash flow demands you face and gets you the immediate funds you need for your transportation business. No matter if you have 1 truck or 100, we can get you quick cash you need to:
- Pay for fuel and equipment.
- Cover insurance and operating expenses.
- Take care of anything your business needs!
It’s simple, fast and free to get started. Why not get a no-obligation quote today?