How Can Retailers Improve Revenue With BOPIS (Buy Online, Pickup in Store)?
Shopping dynamics are changing all over the world. Retailers are investing in cutting-edge…
Dec 16, 2021
Shopping dynamics are changing all over the world. Retailers are investing in cutting-edge technology to increase revenue and sales. Why is that? To adapt to customer demands and needs. One of the most prevalent models is the BOPUS model. This model is also known as click and collect.
A report by Statistica shows that click and collect retail sales in the United States are forecasted to reach 140 billion U.S. dollars by 2024. That aside, Digital trends show that 50% of consumers choose their retailers based on whether they offer BOPIS services or not.
BOPUS also known as click and collect means an amalgamation of online and offline shopping. It is a concept that supports the buy online, shop in-store strategy. It is also shortened to BOPUS. BOPIS paves the way for retailers to engage, encourage and influence consumer behavior. Setting a business model based on an omnichannel approach allows online shopping promotion through websites, mobile apps, social media, and picking up in-store, avoiding delivery delays and assuring package safety.
By implementing this strategy, consumers can be offered the convenience of picking up their packages from the traditional brick and mortar companies while benefitting from the luxury of placing their orders online, which improves the overall customer experience and intensifies revenue opportunities for retailers.
Customers love the option of picking up their online purchases at the store: 44% of global shoppers say it’s their favorite aspect of retail shopping, according to iVend's Global Shopper Survey.
There are three steps through which BOPIS retail works.
• The first is customers placing the order online through web portals, websites, or mobile app and choosing their pickup date, location, etc.,
• The second step includes retailers assembling and preparing the package to be on the go, and once the packages are ready, the customers are informed through email or text.
• The last step is the shopper picking their package from a specific pickup location. BOPIS is attaining popularity among consumers and retailers because of its speed and convenience for everyone.
PackageX product suite is best suited for BOPIS or BOPUS model. Mailroom by PackageX can be used to manage the packages. It can instantly notify the customers about their packages to pick them up from the specific pickup location. Mailroom by PackageX is powered with cutting-edge OCR technology that scans every bit of information on the label and automates operations.
Mailroom by PackageX seamlessly integrates with parcel lockers and provides a self-served pickup experience if you use parcel lockers. Dispatch by PackageX on the other hand connects retailers with couriers and to provides same day shipping.
BOPIS or BOPUS delivers multiple ways through which retailers can boost revenue. One of them is how sales are increased through encouraging people to shop in-store when they arrive to pick up their orders, the result upsurges impulse purchase.
Invesp reports show that 75% of people who use BOPIS will buy additional items in-store for their pickups. Since this concept offers customers a convenient, reliable, and secure way to shop, it is quite likely that the customer would often shop as it also offers free shipping that lets customers save a couple of bucks.
Online and in-store traffic is uplifted through the proper implementation of BOPIS; online traffic rises as the number of downloads of the app increases, making it easier for retailers to send promos and advertisements directly to their target audience once they have subscribed to the website.
Suppose the customer is not satisfied with the product upon arrival at the store. In that case, BOPIS offers them a quick return and exchange policy, making it practicable for the consumer to shop.
To have a sustainable (buy online shop in-store) business model, retailers need to train their staff accordingly to provide a seamless shopping experience and good customer service. Any problems the customers may face during the process should be properly addressed. To promote BOPIS, it is necessary to market it first to make the people aware that a certain company/retailer/brand is launching BOPIS or BOPUS retail, which will result in a positive way for investing in it.
In addition to this, it will expand the reach of the said company. The business benefits that this ‘Click and Collect’ strategy offers are a lot. Although implementing this e-commerce business model is not easy, this is an important tool through which the physical stores can get their customers back by acting as a distribution center that accommodates the needs of its customers in real-time.
People lately prefer shopping online, but instantaneous gratification habitually pushes the customers to shop from physical stores, BOPIS business model merges these two and presents a combination of online and offline shopping. It can result in a profitable venture for the retailers as it will enhance the sales of retail stores by helping the retailers sustain their business and boost impulse purchases by encouraging higher sales.
Omnichannel retailing, which combines physical and online commerce, aims to integrate distribution, communication, and promotion on the back end. This intersecting of the stores and websites will allow the brands to drive higher sales, and hence this model will deliver quantified results.
By localization of the inventory and the option of the speedy collection of goods from the retail stores, placing the order online saves the customers’ time and guarantees that they get their products much faster than the time taken by the conventional online store couriers. It ensures faster delivery of products without making the customers wait for the delivery of their package.
The convenience and benefits offered by the BOPIS business model ensure consistent customer behavior and experience, which enhances the sales of a brand. Augmenting the variety and diversity of customer satisfaction and enhancing the delivery initiatives to get them the products when and where they want would improve customer satisfaction and loyalty.
In contemporary times, retailers can no longer rely on selling products to consumers traditionally when every other person hesitates to go to the store as they view it as an inconvenience. To counter this, the marketing industry leaders are focusing on reinventing themselves to provide a channel that unites digital commerce and face-to-face in-store shopping.
BOPUS reshapes the retail client experience for a computerized, versatile, digital, mobile era. With the accommodation of in-store pickup as bait, retailers can generate client journeys that fascinate internet-based clients into physical stores. After that, retailers would utilize this chance to make further deals, extend client commitment and build associations that make customers come back for more.