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Big Growth Seen for BOPIS
Buy Online, Pickup In-Store strategy increases chances for “supplementary purchases”
bsd studio/iStock.com
The Buy Online, Pickup In-Store (BOPIS) market poised for substantial growth, hitting a value of about $666.20 billion by 2028, a new study from ResearchAndMarkets.com concludes. BOPIS represents a strategic fusion of online shopping and brick-and-mortar stores, the report notes, catering to customers who seek the convenience of online shopping without waiting for deliveries or incurring shipping costs.
“The in-store experience remains a vital point of engagement for retail chains aiming to fortify their customer relationships,” the report notes. “BOPIS offers retailers increased profit potential, allowing customers to explore additional items while collecting their online orders, as opposed to alternatives like curbside pickup. This unique opportunity encourages customers to make supplementary purchases, thereby boosting loyalty and the likelihood of revisiting the same stores. This dynamic reinforces the buyer-seller relationship, ultimately benefitting both parties.”
Key industry retail players shaping the BOPIS market include Walmart, Zara, Home Depot, Macy’s, Kohl’s and Target, the report notes. The projected growth in BOPIS spending by those companies and others translates into a compound annual growth rate (CAGR) of 11.57 percent between 2022 and 2028.
Click here for more from the study.
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