Buy online pickup in store (BOPIS) is the successful, albeit relatively young, marriage between brick-and-mortar stores and eCommerce. So how does this relationship work so successfully? It amalgamates two shopping experiences for consumers to optimise efficiency, buyer satisfaction and cost-savings for the retail brand.
It allows consumers to browse to their hearts’ content online without the distraction of other buyers or pressures, and then, rather than waiting for days for their product to arrive in the mail, they are able to pick their purchases up in-store. As more and more companies jump on board the BOPIS bandwagon, the benefits become more evident. Here we will take a closer look at what BOPIS can do for your business.
At its core, BOPIS offers an efficient way of purchasing and obtaining products. The experience of perusing sales catalogues online avoids the queues and bustle of an in-store excursion, which could be particularly helpful for shoppers short on time or with impatient children in tow.
The shopper can then opt to pick up the purchases from a location and at a time that is most convenient to them, again promoting efficiency and speed. The real cherry on top comes when the items are being collected as there is often a designated area for collection resulting in consumers being able to dash and in and out of the store with their full order being met.
The BOPIS retail model presents cost savings opportunities for both the retailer and the consumer. A consumer study by Business Intelligence found that almost 60% online shoppers in America were abandoning their shopping carts at checkout due to high shipping costs. More and more consumers are choosing to pick-up in store to save money.
A pick up in store option will also save the retailer in shipping costs as there is a significant amount of labour associated with preparing packages for postage which often come over and above what is paid in shipping and handling costs by the consumer. Returns and subsequent labour and processing are also reduced as consumers are able to double-check they are satisfied with the product before leaving the store.
Assignment of inventory
A BOPIS model with integrated inventory management can result in far better management of stock across the entire organisation. If a certain stock isn’t selling as well from one outlet, inventory can be strategically redistributed and sold to create better inventory turnaround and increase cashflow, all of which are beneficial to both the customer and the bottom line.
More foot traffic and upsell opportunities
BOPIS really comes into its own by creating increased upselling opportunities. When consumers head in-store to pick-up their purchases, they are exposed to more stock and of course have increased interactions with sales agents which, in 50% of consumers according to a recent study, results in additional purchases being made. Despite the ease of viewing items through a screen interface, there is a lot to be said for physically holding, inspecting and even smelling the product which can instigate purchasing decisions.
BOPIS is a fantastic way of streamlining both the shopping and retail experience for both consumers and businesses alike. However, it can create difficulties with purchase fulfilment and inventory management if not properly implemented. To facilitate your journey to a BOPIS retail model, take advantage of all inventory management software has to offer.
Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.