BOPIS, you say? Yes, we do. Buy Online, Pick-up in Store, an omnichannel retail strategy that’s picking up steam for today’s forward-thinking, results-driven retailers. Read on.
If you have a retail business and run both e-commerce and physical stores, you might have already put omnichannel retailing into practice. In an omnichannel retailing model, all existing channels seamlessly integrate to provide customers with a smooth shopping experience. If you’ve taken this route, then you know that it’s supported by a centralized data management system that connects physical and online stores in real-time. In most scenarios, you’ll have a dedicated retail ERP system that zeros in on the needs of omnichannel retailing.
And if you take your omnichannel sales one step further, you’ll discover that countless retailers out there are turning their attention to the value-added benefits of BOPIS.
What is BOPIS?
BOPIS is a retail shopping strategy where customers can seamlessly shop across multiple channels including online, in-store, and via mobile apps. BOPIS allows customers to enjoy the convenience of purchasing their order from an e-commerce store, while still picking it up in person from a brick-and-mortar business. Essentially, it takes both traditional brick-and-mortar retail and e-commerce shopping one step further, to make this omnichannel strategy a true success.
While omnichannel shopping has, to date, been supported by an ERP system working behind the screen, aka, the back office, BOPIS adds that extra bit of fuel to existing omnichannel shopping strategies.
Buying online and picking up your purchases at a physical store, saves customers’ valuable time, and avoids the added costs of shipping and delivery. During the height of the pandemic, Bizrate Insights and Digital Commerce 360 conducted an online survey of 1,141 shoppers. 62% of those interviewed had positive curbside experiences, while a further 58% stated that curbside pickup was by far, an efficient way to shop.
The big benefits of BOPIS
BOPIS translates into shopping flexibility. BOPIS strategy enables shoppers to select products and easily pay for them online, in most cases, via their mobile device, and pick up their purchases when it’s convenient for them. This avoids lengthy strolls along retailers’ aisles and the long wait at the checkout counter. For retailers, BOPIS means better business, since they can reduce the time required to fulfill each order, plus eliminate shipping and delivery costs.
Implementing BOPIS yields a number of benefits for both the retailer and the shopper. Here are the top four:
- Order fulfilment is faster and more efficient
- In most scenarios, BOPIS-enabled shopping is quicker than home deliveries
- BOPIS can be combined with an in-store shopping experience, allowing stores a valuable opportunity to upsell and cross-sell. A study revealed that 50% of shoppers made additional purchases when they picked up their purchases made via the BOPIS strategy.
- BOPIS helps smaller retailers differentiate themselves from larger stores, and offer a more personalized shopping experience
When retail ERP and BOPIS meet
BOPIS orders can be efficiently fulfilled with the help of a retail ERP system. Because retail ERP is geared towards bridging the gap between online and offline, seamless inventory management and stock replenishment ensure that BOPIS is successful.
A retail ERP provides retailers with real-time inventory visibility so that customers don’t end up ordering online and arriving at the store to pick up their purchase, to find out that the products they paid for aren’t in stock. This is one of the key reasons why BOPIS must be supported by a strong and reliable retail ERP system. With an ERP in place, retailers are in control, with viable order management processes, and real-time inventory visibility throughout the entire supply chain.
To make BOPIS work (and work well!) retailers need good strategies, to:
- Identify convenient areas for curbside pickups and effectively manage traffic flow
- Reduce wait times by coordinating online orders with warehouses, with the help of an ERP’s warehouse management tools
- Incentivize shoppers to enter the store while their products are being packed for pickup, in turn, increasing the chances of upselling and cross-selling
- Create a streamlined approach to efficiently manage returns
BOPIS supports an omnichannel fulfillment strategy
Without a doubt, BOPIS is a fast-evolving strategy that has enabled many brick-and-mortar stores to allow customers to shop online and pick up their purchases from a physical location. This helps avoid shipping costs and reduces the time and resources associated with deliveries.
It’s also a unique opportunity for retail businesses to streamline their omnichannel strategy, and use pickup visits by customers to encourage and promote in-store shopping while they wait for their orders. Because this presents a valuable cross-selling and up-selling opportunity, BOPIS provides a clear path for increasing revenue. Most important, when supported by a retail ERP system, BOPIS takes your omnichannel retailing to the next level (and beyond).