Survey Results: You Are Not Alone - How the Coronavirus Is Impacting the Logistics Industry
Since the coronavirus (COVID-19) outbreak began, experts have been trying to determine the extent of the virus’ impact on the logistics industry both now and in the future. In an effort to gain insight into the changing landscape, Echo has been conducting shipper surveys to assess the impact to our clients. Not surprisingly, things have been evolving very quickly as evidenced by the change in just a two-week period.
We surveyed clients on March 5 and again on March 19, 2020. In that short time, here is a glimpse into what we learned:
On March 5, 28% of shippers said their business was being impacted by the coronavirus. By March 19, that number had risen to 60%.
Of the shippers who responded on March 19 that they were not currently impacted, 47% expect the coronavirus to impact their business in the future, up from 23% two weeks prior.
When asked how the coronavirus was affecting their business, the top three areas were slowdown of supply chain (52%), reduced travel (43%), and creating contingency plans (42%).
79% of shippers have not altered their long-term shipping plans due to the coronavirus.
While the survey results show that the things that shippers said were being impacted have changed in the two-week period, it also demonstrates that companies are quickly making changes including adjusting their travel and leveraging contingency plans.
Shipping volumes at the time of publishing demonstrate the resilience of companies and their ability to produce needed products during these times, and highlights the important role transportation plays. At Echo, we have been moving key items in response to COVID-19, as well as other day-to-day products that keep our economy moving.
Throughout this situation, Echo remains fully operational, continuing to service all modes of transportation while abiding by government and health regulations. We’ve implemented our Business Continuity Plan so 100% of our employees can leverage our proprietary technology at home without skipping a beat. The core of our technology, EchoAccelerator, allows us to continue to support our network of 35,000 clients and 50,000 carriers during this situation on a single platform. During this time, all products remain accessible to clients and carriers, including EchoShip, EchoDrive®, and EchoTrak. Our world-class proprietary technology platforms allow a seamless work from home solution for not only our employees, but also for our clients who are operating under a similar situation. By leveraging EchoShip, they can quote, book, ship, track, and pay online. And our carrier technology, EchoDrive, is helping drivers and dispatchers find the loads they want on the routes that best fit their needs.
Echo is committed to helping our clients and carriers effectively manage through this situation. If you have any questions or concerns regarding your transportation management needs, feel free to reach out to your Echo representative. You can also reach out to Echo at 800-354-7993 or email@example.com, or request a quote for a shipment.