"'The fact that nearly 11% of transport & storage sector businesses felt the need to cut their prices in October highlights the tough market conditions they are facing. 'In sharp contrast, only 3.3% of manufacturers and 1.7% of retailers reduced the prices of their goods and services. The logistics sector appears to be facing uniquely challenging times, largely because of the tight margins and demanding KPIs built into many contracts."
"A significant 10.9% of transport & storage sector companies reduced the prices of their services in October compared to September, according to shock new results from the latest Office of National Statistics (ONS) Business Insights survey. The home delivery expert Parcelhero says that significantly more transport & storage firms cut their prices than any other business sector and considerably in excess of their retail and manufacturing partners."
10.9% of transport & storage sector companies reduced service prices in October compared to September, the highest proportion across sectors. Fewer transport & storage businesses expected an increase in turnover in December than any comparable sector, suggesting weak seasonal prospects. Only 1% of transport & storage firms increased prices, versus 8.6% of manufacturers and 12.5% of retailers. By contrast, only 1.9% of transport & storage companies cut prices in September. Tight contract margins and demanding KPIs are cited as causes of pressure on logistics firms. The planned fuel duty increase in the Autumn Budget is expected to further squeeze margins.
Read at London Business News | Londonlovesbusiness.com
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