Looking Back at 2022
Another fantastic year is in the books! We are so grateful for the opportunity to help businesses share commercial vehicles. Our team of experts continues to work hard every day to maximize your company’s success.
Let’s recap some of this year’s highlights:
· Expanded nationwide to reach businesses in all 50 states
· Launched over 14 platform enhancements
· Our team grew double in size
· Welcomed 15,000+ businesses to the platform
· The number of trailers rented on COOP could fill about 352 football stadiums
· Trucks rented on COOP traveled over 37,000,000 miles (enough to travel to the moon and back to earth 15 times)
2022 Platform Enhancements
Year after year, we aim to introduce valuable updates to help you easily rent and optimize your vehicles when navigating the platform. With your feedback and our development team’s extensive skill set, you have access to a whole new type of rental experience all from the palm of your hands.
Here are some of the top features we released this year:
· User-to-user chat – Communication is key during a rental. With this feature, Owners and Renters can chat with each other about extending reservations or if there’s a question about the vehicle.
· Support Center ticketing feature - This convenient self-service feature allows account holders to create and track tickets regarding account information, claims, payments, billing, reservations, or a service or vehicle issue.
· COOP Smart Rate – With this groundbreaking new pricing tool, Owners who list their vehicles can easily set the best rate automatically to maximize earnings according to vehicle type, market demand, and more.
To learn more about new features and to get valuable tips for using the COOP platform, visit our blog page.
This Year’s Key Trends
We thought 2020 and 2021 were unusual years, but little did we know what 2022 had in store for all of us – especially in the trucking and transportation industry. While the Coronavirus pandemic seems to be in the rearview, other developments with inflation and the global supply chain kept businesses on their toes. Trends that are still carrying over into the new year.
Here’s a look back at some of the most interesting insights we found throughout the year.
Inflation and Rising Interest Rates have affected the trucking industry across the board with record-breaking fuel price increases and higher consumer prices. Now, we’re seeing a slowdown in freight demand. Many businesses found COOP to be a flexible solution for operating in a high-inflation environment.
Port Congestion turned out to be a major issue causing closures and worker strikes. With backlogs easing, companies may need to pivot their operations. Plus, the driver shortage and less inventory getting ordered will continue to be a challenge.
As has been the case for the past few years, the fourth quarter saw an Increase in E-commerce. Despite inflation affecting the economy, we saw record-breaking dollars spent online for the holidays. With the busy season passing, expect excess inventory to become a hot topic. With COOP, companies are renting trailers to store goods and replace the need for paying for costly warehouse space.
We look forward to what’s next because we have lots of new things planned for 2023! At COOP, we’re always looking for ways to bring you better experiences and stay true to how we’re making trucks easy to share.