Leverage WebCargo by Freightos’ Volatility Index to assess the risk associated with quoting customers at current rates, and create a sense of urgency to encourage bookings, helping customers lock in prices before potential fluctuations occur.
Watch the video below or keep reading to find out how you can use this tool.
First, search for rates by clicking on the New eBooking button from the side menu. Enter your shipment details, then click Search flights and rates.
Once your search results have loaded, you’ll see all available options based on the information you previously entered. Next to the airline logo, you’ll also see an arrow graphic. This shows an arrow pointing upwards, going straight, or pointing downwards, as well as a chart with three vertical bars.
Move your mouse over these icons to expand the information, and click Learn more for more details on Trends and Volatility.
What do the different arrows mean?
Arrow pointing downwards
If you see an arrow pointing downwards, it means that prices have decreased or are decreasing.
Arrow pointing upwards
If you see that an arrow is pointing upwards, it means that prices have increased or are increasing.
Arrow is straight
If you see an arrow in a straight line, or it is not pointing upwards or downwards, it means that rates have maintained the same price, or have not increased or decreased.
What do the vertical bars mean?
Below each arrow, you’ll see three vertical bars, which can either be greyed out or filled in.
When the first bar is filled in and the next two are greyed out, this means prices have low volatility (< 5%), meaning they are not prone to changes.
When the first two vertical bars are filled in, this means that airline rates have medium volatility (5 to 10%) and prices can be less predictable.
When all three bars are filled in, this means that the rates shown are highly volatile (> 10%) and prone to fluctuations in price.
If volatility is high and the price is increasing a lot, this means you can advise your customer of the urgency to book quickly and make the eBooking sooner rather than later to avoid potential rate increases.
If volatility is high, but the price is showing a downward trend in price, this means you could save more money when making an eBooking if booked sooner rather than later.
If you have any questions, chat with us by clicking the speech bubble in the bottom right-hand corner of the platform.