How BOPIS Can Benefit Your Business
Running a business today is a difficult thing. There are market and industry pressures to contend with, as well as a serious paradigm shift in consumer behaviour as the cost-of-living crisis continues to deepen ahead of the winter months.
There are myriad ways in which you can approach the streamlining of your business for times of slow economic growth. While many businesses focus on the products they sell and the marketing infrastructure behind them, there are those that make serious savings – and boost customer retention – by paying attention to the logistics side of their operation. In particular, there is one form of product delivery that can bring key benefits to any operation with an e-commerce arm: BOPIS.
What is BOPIS?
BOPIS is an acronym, that stands for ‘Buy Online, Pick up In-Store’. The term is self-evident, describing as it does a unique form of e-commerce where-in the buyer collects an item they have purchased online in their own time, and on their own dime.
This form of commerce is not an old one, with different iterations of the same having been a standard form of buying across different industries. It is still a common way in which we as consumers engage with the fast-food industry, whether calling local takeaways to make an advance order or selecting ‘collection’ on a food delivery app.
Why Do Customers Want BOPIS?
But why is BOPIS an option that customers want, in a world where same-day delivery is available and relatively inexpensive for companies to roll out? The key reason can be found in the form of a single word: choice. Customers are not easily reduced to single data points in real life, and have a variety of complex needs that inform their spending decisions. Method of delivery is one of these choices.
A given customer might work standard office hours, and run the risk of not being home to receive their parcel. They might be near your business anyway, and free to collect in order to speed up their receipt of the product. Whatever the reason, the key is that they have the choice to do so. Without that choice, you run the risk of losing customers to competitors with a wider array of delivery options.
How BOPIS Can Benefit Your Business
With this in mind, how can BOPIS tangibly create value for you as a business? First, it is important to understand that BOPIS is only effective as part of a wider logistical strategy. Enforcing BOPIS as the sole method of delivery is counter to its positive impacts when placed alongside other delivery options.
BOPIS minimises customer churn, by ensuring your customers’ logistical needs can be met with you even if they change. BOPIS can also have a positive impact on your logistics budget, decreasing the number of deliveries you need to pay for and increasing your monthly revenue as a result.
