At Gain Consulting, we are committed to keeping our clients informed about the latest industry trends and insights. Recently, MASTIO released its 2024 20th Edition of the U.S. LTL Carrier Customer Value & Loyalty Report, providing valuable data for shippers and carriers alike. This comprehensive study, based on interviews with 1,608 customers and over 5,000 observations, sheds light on the dynamics of the less-than-truckload (LTL) freight market.
Key Findings from the Report
MASTIO's report evaluated 164 LTL carriers, with 23 carriers meeting the criteria for inclusion in the findings. The depth of the study is evident, as it includes approximately 5,700 qualitative responses from key decision-makers collected through telephone interviews conducted from June to late September 2024.
Major Insights Include:
Drivers of Carrier Selection: The study reveals the key factors influencing shippers’ choices when selecting a carrier, which are essential for carriers to understand in order to enhance their competitive edge.
Competitive Positioning: Shippers can evaluate how they compare against key competitors, gaining insights into their market standing.
Customer Retention Risks: The report identifies which carriers are most vulnerable to losing customers and which have the strongest capabilities to attract and retain them.
Notable Rankings
The report also highlights the overall quality scores of LTL carriers, with the following companies achieving the highest ratings:
Daylight Transport
Averitt Express
Old Dominion
Peninsula
Dayton Freight Lines
These rankings are based on the Customer Value Weighted Performance Score, offering a clear picture of the market landscape.
Category Highlights
The report delves into specific categories, showcasing the top performers:
National Carriers: Old Dominion emerged as the overall winner.
Inter-Regional Carriers: Daylight Transport led the pack.
Northeast/Mid-Atlantic Carriers: Ward Trucking took the top spot.
Great Lakes/Midwest Carriers: Dayton Freight Lines excelled.
Southern Carriers: Southeastern Freight Lines topped this category.
Western Carriers: Peninsula came out on top.
Implications for the Supply Chain
The findings of MASTIO’s report underscore the importance of understanding customer expectations and the competitive landscape in the LTL market. For carriers, the insights can inform strategies to improve service quality, enhance customer retention, and effectively communicate value propositions.
At Gain Consulting, we encourage all stakeholders in the supply chain to leverage this data to make informed decisions. Whether you are looking to refine your carrier partnerships, enhance operational efficiencies, or drive customer loyalty, understanding the metrics outlined in this report is crucial.
Conclusion
The 2024 U.S. LTL Carrier Customer Value & Loyalty Report by MASTIO is a significant resource for anyone involved in logistics and supply chain management. It provides actionable insights that can help companies strengthen their market position and foster lasting customer relationships.
Stay tuned to Gain Consulting for more updates and insights as we continue to navigate the complexities of the supply chain landscape together. If you need assistance in interpreting these findings or applying them to your business strategies, our team is here to help!
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