THE ULTIMATE GUIDE TO THE "BUY ONLINE, PICK-UP IN STORE" RETAIL STRATEGY (2022)

Because of the pandemic, E-commerce has risen to the top of the retail food chain. Overall, E-commerce is performing well during the pandemic. Customers who are unable to visit a physical business may shop online. But, as is often the case, more is needed.

The internet has significantly altered customers' buying experiences.

Buyers often start their shopping experience online, intending to buy things online and then pick up the order in-store (Buy online and pick up in-store (BOPIS) at their convenience.

Retailers are now required to showcase all in-store products on their websites. You may recently experience this BOPIS option in any of the large brand stores, where you can buy a product online (from their website) and pick it up from any of your neighbouring stores on the same day as soon as you receive the notice to pick it up.

A key driver of conversions is nothing more than same-day order pick-up from a shop. Still, to capitalise on this opportunity, you should assure that customers are aware of this service early in the decision-making process.

A merchant may easily manage a brick-and-mortar store and an e-commerce business by using the buy-online-pickup-in-store strategy.

IN RETAIL, WHAT IS BOPIS?

What comes to your mind when you hear the word BOPIS?

Nowadays, most companies provide BOPIS, and in this digital world, individuals want to avoid walking down the street searching for the product of their choice and wasting valuable time.

They browse the web on numerous ecommerce platforms and order the goods that pique their attention. It normally takes some time for the items to arrive at your door.

But what if the customer needs the product within a few hours after placing the order?

Here comes the main draw, BOPIS - "Buy Online, Pick-Up in Store."

BOPIS is a new strategy used by retailers to boost their bottom line.

Customers can visit the retailers' websites and purchase products directly from them. After this procedure, the consumer can visit the store and pick up the item once it is ready. As a result, the order is delivered to the customer the same day or in a few hours.

WHAT IS THE BOPIS STRATEGY?

The buy-online-pickup-in-store approach is a retail marketing technique in which businesses allow customers to pick up things they have purchased online from their websites in-store rather than transporting them to their houses. It's especially useful for clients needing more time to browse a real retail store.

BOPIS is a model technique brands use to stay ahead of the curve. It is a deliberate retail sales strategy that has evolved in tandem with the advent of eCommerce. This omnichannel retail strategy allows consumers to purchase things online or on their mobile devices and immediately pick up their orders at a nearby shop.

But how does it work precisely, and what impact can businesses expect from it? Learn how BOPIS works, the benefits of BOPIS for retail, the requirements for delivering BOPIS, and the challenges involved while implementing a BOPIS strategy in retail.

BUY ONLINE PICK-UP IN STORE BENEFITS FOR RETAIL

The BOPIS feature also benefits the retailers in the following ways -

• If retailers choose this option, there is a chance that their sales may grow.
• A retailer can interact with customers.
• BOPIS helps to lower transportation costs.
• Increase store traffic by providing a more flexible and faster order fulfilment service.
• Inventory accuracy through real-time inventory control
• Marketing opportunities to offer relevant or related items to customers while sending confirmation emails.
• To encourage client loyalty, offer special coupons with in-store pickup receipts.

BOPIS Benefits for Customers

• Customers who want a product can purchase it online and pick it up from the store within an hour or so.
• Customers will no longer have to wait for their deliveries.
• Shipping might be significantly more expensive for customers who want things sent to them.
• Customers may save money and time by picking up their items in-store while still placing their orders online.
• If a consumer is dissatisfied with a purchase, returns or exchanges can be done instantly rather than mailing the order back.
• With BOPIS, the order is packaged first, and the client is notified that it is ready for pickup.
• Customers are assured that the product will be available in-store.

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HOW DOES THE (BOPIS) STRATEGY WORK

In retail, the buy-online-pickup-in-store technique is quite simple to implement. Suppose you have a physical retail shop and an eCommerce website. In that case, you must add a delivery option and guarantee that your brick-and-mortar can handle these orders effectively to give a better BOPIS experience.

You should also ensure that your real store has a separate space for dealing with BOPIS orders so that clients can promptly pick up their online orders.

Buy online and pick up in-store (BOPIS) is a simple technique that requires the following steps:

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Step 1: Browse and Buy your Product Online

Customers can explore products and purchase them online by using the mobile app or website of the store from which they wish to buy.

Step 2: Select the Preferred Store Location on the Checkout Page

Customers may choose a local store to pick up their order after purchasing the product.

Step 3: Choose the Pick-up Date and Time

Following the second step, consumers must select the pickup day and time for the order.

Step 4: Receive a Confirmation Mail

After the successful checkout step, customers have to wait for the confirmation mail sent by the store admin to pick up their order.

Step 5: Pick up the Order from the Store

Meanwhile, the business owner will pack your ordered items and have them ready for collection.

Yay!! You may now go pick up your purchase on the specified date.

IMPACT OF BOPIS ON RETAIL

The pandemic has emphasised the significance of digital transformation. Retailers with a good eCommerce strategy and a variety of services for consumer convenience have more flexibility, sales, and customers. They also have a greater chance of surviving supply chain disruptions.

CHALLENGES OF BOPIS STRATEGY IN RETAIL

So, if BOPIS has so many advantages, why haven't all merchants already embraced it? It isn't easy to use BOPIS correctly. Customers will become dissatisfied, and your business will be affected due to one wrong step.

True, BOPIS provides several benefits; however, it also has its disadvantages:

• Purchase Rush Inventory Inventories management and synchronization between online and in-store inventory
• Queues that are well-organized
• Infrastructure for the Supply Chain
• Rapid fulfilment and employee training to fulfil online orders
• Fraud risk has increased.
• Legacy technology systems need to be more advanced.

WHAT ARE THE REQUIREMENTS FOR OFFERING BOPIS?

To have a successful BOPIS offering, make sure you have the following requirements:

• An ordering website or app.
• There must be at least one physical place.
• Inventory capacities in real-time.
• A location that allows for convenient in-store or curbside pickup

WRAP UP

Retailers must be daring and adaptable. Changes in the E-Commerce business provide an opportunity to learn about customers and rapidly identify what works, what doesn't, and where to go next.

A well-executed buy-online-pickup-in-store approach in retail may be tremendously successful. Shifting delivery from inefficient last-mile choices to in-store options would save shipping costs and enhance the likelihood that consumers will spend more on each order.

And you should select BOPIS to distinguish yourself from your competition. Customers constantly seek convenience and discounts, and in-store pickup service provides both. They will purchase from shops that provide BOPIS services.