Fulfillment is the Key Battleground in the Transformation of Retail
Posted by Alex Samuely on Dec 6, 2017
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The ongoing retail evolution has affected all facets of the industry, as well as the purchasing journey. Thanks to stiff competition from online behemoths such as Amazon, which offer competitive shipping options to their members, many brands must now adapt their item fulfillment strategies to fit consumer expectations. The presence of free shipping could make or break an online purchase—but it’s not the only type of product fulfillment that can sway a customer.
Buy online, pick-up in store (commonly referred to as BOPIS) is a strategy that encompasses the three most important tenets of retail fulfillment: speed, assurance, and transparency. Smaller brands that may not have the regional shipment centers that Amazon does simply might not be able to compete with a fast shipping model. Instead, they can offer their customers the convenience of shopping online or via mobile and subsequently choosing to come pick up their chosen products at their nearest retail store, free of charge.
However, only 18% of brands currently offer BOPIS options, with 8% of those belonging to the luxury sector, and 3%, 7%, and 7% belonging to premium, mid-market, and basic sectors, respectively. This number is starkly low when the convenience of BOPIS is considered.
BOPIS gives shoppers immediate insight into their nearby retail stores’ inventory. Customers can select their desired item’s size, style, and color, and type in their zip code to see whether any stores in their vicinity have the product in stock. If they do, the shopper can complete the checkout process and head to that location at his or her leisure to retrieve it as soon as one hour later. If it’s not in stock, the item will be shipped to the individual’s nearest location, and he or she will receive a notification once it’s ready to be picked up. BOPIS typically eliminates any shipping fees on the consumer side, which is another major plus. On the retail side, brands may drive more impromptu sales from consumers who venture in-store to pick up a previously purchased item and notice something else that strikes their fancy.
Ultimately, BOPIS offers many opportunities for retailers seeking to offer increasingly convenient shipping options in an Amazon-centric world. And with only 18% of brands employing this strategy, now is the most opportune time to become more competitive and jump ahead of the curve.
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