Do you have a payments partner to help meet the growing customer demand for BOPIS (Buy online, pick up in-store), and are you prepared for its expected growth in the coming years?
COVID-fueled BOPIS growth
A whopping 43 percent of purchases are now made online, thanks in part to the COVID-19 pandemic. Consumers want to minimize the time spent in stores due to health concerns and are instead opting for safer, contactless shopping experiences like BOPIS1. When possible, consumers want to complete their entire purchase online—but when they can’t, they prefer placing their order online, then picking it up curbside.2
As a result, curbside pickup has grown significantly, with 15.5 percent of those who purchase digitally citing it as their preferred way of shopping in July 2020—up from 10.8 percent in March 2020, according to the Global Digital Shopping Index. That’s a 44 percent increase.
While picking items up from an employee has not seen the same growth as curbside pickup, the two combined have seen the highest increased usage since the outbreak with 34 percent of consumers using BOPIS more than before the pandemic.3
Why businesses should offer BOPIS
BOPIS offers several benefits for businesses. It allows retailers to reduce their reliance on third-party carriers, who sometimes have a negative effect on the customer experience due to delayed or damaged deliveries. Businesses—especially those who offer free shipping—will also increase their profit margin per order by saving on shipping costs. They can further increase profits with in-store upsell opportunities or increase brand loyalty through positive, in-person interactions with the customer.
Preparing for future growth
BOPIS is a recent retail innovation that has found unexpected utility as an important option that helps consumers minimize time spent in stores. We expect BOPIS to continue to be used in 2021 and beyond and want all small businesses to be prepared to accept the payment customers prefer.
Let us help you keep your business relevant and up to date while meeting customers’ needs for convenience and safety. Get started today.
Sources
1 Global Digital Shopping Index, p. 10.
2 Global Digital Shopping Index, p. 10.
3 Global Digital Shopping Index, p. 25
