AZ Digitals Blog

FLUCTUATIONS IN GAS PRICES

A sinking loonie and rising carbon taxes are among the things that could end low gas prices this year. Canadians can expect a volatile year for gas prices, says a new forecast.

Canadian drivers are enjoying some of the lowest gas prices in years. However, don’t expect that to last through 2019, says price comparison site GasBuddy.

In a report issued Wednesday, GasBuddy analyst Dan McTeague warned Canadians. The warning said to be prepared for “a wild ride at the pump” this year.

“Canadian motorists can expect a year of extreme volatility at the pumps for 2019. As the world markets move sharply in varying directions for the foreseeable future,” McTeague wrote.

Traders are uncertain which way the global economy is going. Therefore, the oil prices are likely to swing wildly in the months ahead. However, at the start of the spring season, there can be price fluctuations. Later, The Canadians could see the highest prices at the pumps since 2014, McTeague said.

The loonie has lost 10 cents U.S. in value over the past year. It is enough to push gas prices up by 2.5 cents a litre. On top of that, eight of 10 Canadian provinces are bringing some changes. Therefore, it shall be the introduction of a new carbon tax this year. Additionally, or an increase to their existing one by April 1.

CLIMATE CHANGE & OIL PRICES

This “will almost certainly force up the cost of filling your tank. Hence, Just in time for the summer driving season and switchover to more expensive summer gasoline,” McTeague wrote.

The federal government is introducing a carbon tax in provinces without their own plan. The reason is to combat climate change. This will automatically result in the tax that will translate into an extra five cents per litre on gas prices. Ottawa plans to send rebate cheques to consumers in those provinces to offset the additional cost.

MC-Teague Said Vancouver shall overtake Montreal this year as the North American city with highest gas prices taxes. The province of British Columbia is all set to increase its taxes. This includes Trans Link Tax and a carbon tax on 1st April, all in connection with Vancouver takeover from Montreal.

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“IF WE GO INTO A GLOBAL RECESSION ALL BETS ARE OFF”

But there is one thing that could alter that forecast and bring lower gas prices. A global recession, something a growing number of experts say could be just around the corner.

“If we go into a global recession all bets are off,” McTeague told Huff Post Canada. “The price of every commodity would absolutely collapse. But I don’t see that happening.”

A new agreement between the U.S. and China that ends the trade conflict between the world’s two largest economies. This would be enough to calm nerves about a global recession, McTeague said.

In the meantime, Canadians are enjoying some of the lowest gas prices in years. Thanks to rapidly dropping prices in December, the average gas prices in Canada was around $1.02 per liter on Jan. 2, the lowest average since July of 2017.

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There are many essential aspects that make or break a successful e-commerce business. A supply of high-quality products, an effective marketing strategy, great packaging – you name it. No less important is figuring out how to ship your product from point A to point B, at the same time keeping the shipping costs for both parties as minimal as possible.

Shipping costs not only affect the profitability of your business, but they are also the number one reason why online customers abandon their shopping carts. All the more reason for keeping them under control as much as all other operating costs.

To calculate your shipping costs, or even just estimate the approximate price to ship a given package, you will be needing to consider the following factors. Let’s start with:

Package dimensions and weight

This is one of the main determining factors for your shipping costs. To put it simply, the larger the package, the more you’ll have to pay for shipping. The same goes for package weight – a heavier package will cost more to be delivered.

While you cannot affect the weight, you do have a say over what type of packaging to send it in. The package size should be big enough to hold your products, but relatively smaller to protect your product from unnecessary shaking and damage.

A good idea is to stock several package sizes and packaging materials so that you can select the most appropriate for each of your products.

Distance

Apart from the size and weight of the package, the departing location and destination are also an important cost factor. The further the package travels, the higher the cost of shipping.

To see how distance will affect your shipping costs, you can use an online calculator – like the one on eShipper, a Canadian shipping company that provides shipping solutions across Canada, the US, and internationally.

Or create your own free eShipper online account to get access to a more extensive calculator where you’ll be able to see a list of competitive rates from trusted carriers like FedEx, UPS, and others, see a breakdown of prices and compare them by carrier, service, estimated transit time, etc.

Regarding the distance traveled, it isn’t much you can do here. However, when your business grows big enough, it might be time to start thinking about using a fulfillment warehouse by analyzing past sales and their destinations, reducing your shipping costs overall.

Tracking & Insurance

Insurance and tracking are two very important considerations that offer a great deal of security but might increase your total shipping rates.

Tracking almost always comes at some additional cost. At the same time, it can be important for not only proving you sent the package but also for the customer experience.

In the case of most carriers, insurance and tracking is relatively inexpensive and covers your expenses in case one of your packages gets lost or damaged. Shipping services like UPS offer complimentary coverage, but only cover your merchandise up to a certain amount.

For low-value, high volume shipments, consider using eShipper’s SmartPost tracking that offers competitive prices for full tracking to 28 countries and domestic.

If you’re shipping items of higher value or packages that are easy to break, consider purchasing additional insurance or even using a third-party insurance provider like ShipSurance or Insureship that will cover all your packages automatically.

Also, read the related blog: CONVENIENCE RETAILERS WELCOME TO LOWER CREDIT CARD FEES

Customs & Duties

If you’re selling across international borders, one of the biggest challenges you’ll face is dealing with customs and duties.

Usually, when there are additional customs fees or taxes involved upon the arrival of the package, your customer will be responsible for them. To avoid confusion, include that information on your website, for example, a shipping policy page. Here’s an example by a brand that creates inspirational posters:

International Shipping Costs
Shipments outside of the USA may incur customs fees depending on your country of residence. The fee may vary depending on your order value, country limits, and other factors.

Startup Vitamins does not take responsibility for possible fees.

Make sure to explain as clearly that any taxes or duty fees are shipping costs that are beyond your control and not something you will earn a commission from.
To get an idea of what fees might occur, check out resources like:

1. The USPS Customs Information

2. UPS Import and Export Guide
3. FedEx Guide to Customs
4. Canada Post Customs & Duties Information

Handling

If you have employees handling your package prior to shipping, remember to account for this when determining total shipping costs. Even if your business is a solo job – your own time is valuable too.

To figure out handling shipping costs, there’s a simple formula that you can use. Multiply how long it takes to package an item and divide that by 60. Then, multiply the number you got by an hourly wage.
•If it takes 20 minutes to package and send an item, divide that by 60 and get 0.33. If the hourly wage in your company is $10/hour, multiply that by 0.33 and get handling costs – $3.30.

Conclusion

As you can see, figuring out your shipping costs is not as simple as you may think, as there are many changing variables along the way.

If you need any help, you’re welcome to contact us at eShipper for recommendations on what packaging might be the most suitable, yet money-saving to keep shipping costs on the down low and for other tips and tricks for best shipping experience.

This piece is a guest blog written by a representative from Arka, the packaging experts who take a highly personalized approach in creating custom packaging for your brand while making it their mission to give you both affordable pricing, and quick turn-around time.

Time management is an important aspect to help schedule your day and get the maximum output from it. In order to be more organized, its best to schedule tasks according to the calculated time. This is while knowing what needs to be done and the time required for its completion.

Your timely calculations play a significant importance in your life. Although there are only twenty-four hours in a day, it is money and value. In addition to this, it is the resource and it’s on you to make the most of it. The primary reason is in order to obtain the fruitful results.

Always have a trigger in your mind that no hour wasted shall be added back in your day. Therefore, we should realize the importance of time management. Especially, how it helps you to maximize your efficiency throughout the day. This isn’t just the skill for entrepreneurs to master but for everyone. Every individual should realize the miraculous benefits of time governing and appreciate the finite resource that it is.

THE IMPORTANCE OF TIME MANAGEMENT:

The importance of time management will have a positive footprint on your personal and professional life. Time management requires you to organize your everyday. This should be in a manner that will make you find the best use for every moment. It allows you to create a healthy balance of workflow and personal life.

Similarly, the effects of improper time management are truly worrisome. These include missed deadlines and living with excessive stress and anxiety. However, you can earn back if you lost some money. But a wasted hour is irreplaceable.

Even if you’ve failed to manage your calculations in the past for any reason. Just be positive, as it’s never too late. Bringing out a useful change while organizing your tasks. You should set deadlines, delegate tasks, prioritize your to-do list, and acquire the maximum value from your scheduled tasks.

There are countless activities that you can perform. Achieved through proper time-management or controlling every extra minute.  Be it some daily-use activities like hobbies or cultivating relationships by spending moments with your family. It will help you be happier every day in the long-term. Especially, as you’ll get space for yourself, family and also for the fun activities. Moreover, it has impressive benefits on one’s personal health as well. Having more time to have a long and restful sleep.

WHY MOTIVATION IS IMPORTANT:

HIGH LEVELS OF EMPLOYEE MOTIVATION ARE INTRINSICALLY LINKED TO HIGH LEVELS OF EMPLOYEE ENGAGEMENT.

HEALTHIER EMPLOYEES

BETTER JOB PERFORMANCE