Shortly before COVID-19 arrived, we discussed the growth of BPOS — buy product online, pick-up in store. [Also, known as click and collect.] Since then, BOPUS’ rise has been fueled by the changes in shopping due to COVID-19. With this in mind, we look at a global forecast about the future of BOPUS.
2022-2027: Global Forecast About the Future of BOPUS
Recently, Research and Markets published a report on the future of BOPUS. [Note: The firm labels its study as BOPIS, representing Global Buy Online Pick Up in Store ] The report costs about $3,000 for an individual subscriber.
Thankfully, the research company offers free highlights. As we extract below:
The Global Buy Online Pick Up in Store (BOPIS) Market is expected to reach US$ 703.18 Billion by 2027. Worldwide, BOPIS has become a popular retail strategy that allows customers to have the best of both worlds: online shopping and in-person pickup. Thus, BOPIS is an excellent strategy for E-commerce that helps create a great blend of online shopping and physical stores. Thereby, making the shopping process more convenient for its customers. Remarkably, BOPIS enables shopping from the comfort of homes, purchasing the item online, and going to the store when it is time to see the item is ready for pickup.
The market drivers boosting the BOPIS industry include convenient factors that give provisions to customers. Besides, no added shipping charges. No waiting for a long time for items to be delivered. Quick services. In-stock insurance, And ease to tackle delivery errors that often arise with order fulfilment. They pave the way for the market. An efficient BOPIS system will increase sales and customer loyalty. As well as help retailers stay competitive with other brick-and-mortar stores. And online merchants.
At the height of the pandemic in 2020, demand for BOPIS options increased significantly. Moreover, a year later, in 2021, customer adoption and repeated use of BOPIS got even stronger. Overall, as per our analysis, BOPIS isn’t just a passing trend. Globally, shoppers love it. Most use it. And they intend to continue. The global BOPIS Industry generated US$ 243.89 Billion in 2021.
To read more of the free highlights, click the image.