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What is In-Store Pickup & Why Your Retail Business Needs It
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What is In-Store Pick Up? In-Store Pick Up is the core service of omnichannel retail. It is the main reason businesses buy retail order management systems. What follows are the top 11 reasons why your operation needs pick up in-store, too. Whether you call it click and collect, grab & go, or buy online pick up in-store (BOPIS) – this element of omnichannel retail is the key to retail success as we step forward.
1 – Increases Foot Traffic
We all know that online sales are growing, both in popularity, and in order revenue. By simply offering in-store pick up a group of your customers will take the option. Maybe they drop in to the store on their way to the office, on their way home, or while they are doing errands. Either way, increasing foot traffic in-store is always a good thing for business.
2 – Saves On Shipping Costs
Having customers do in-store pick up means you just saved on the shipping costs. That gives you more options. Lower shipping fees mean increased margins, the option to run more promotions, or deeper promotional offerings. Maybe for a limited time, you encourage customers by offering them a limited time in-store pickup discount, or additional 10% off all additional items – over and above the pickup order.
3 – Leverages In-Store Inventory
Nothing better for a retailer than to use in-store inventory for order fulfillment. It increases the inventory velocity of your store stock. That means faster new inventory flow, less aged merchandise, and reduces your carrying risk (merchandise damage, aging inventory that does not sell, …).
Higher stock velocity also just makes a store seem fresh and alive. It is always buzzing with new goods, shelf restocking, and fresh displays. That feeling of being alive has an impact on customers. Shoppers want to be at stores that have a sense of buzz, with a continual influx of new things. It might even promote more in-store visits… just to check out what is new and happening.
4 – Improves Average Order Value (AOV)
Getting a customer to do an in-store pickup means there is a 58% chance that they will buy more goods. Simply by dropping into the store, most shoppers will see, find or realize that they need another item.
5 – Increases Overall Sales
With even just a small percent of your online shoppers converting to in-store pick up shoppers, it means the sales for your chain will grow. In fact, retailers using click and collect or BOPIS showed an average growth of 23% in sales.
6 – Makes Shopping Easier For Customers
Let shoppers choose what they want, when they want it, and how they get it. Make it easier than the next retailer, and the advantage means your customers will keep coming back. If customers want to buy in-store, fantastic! If they want to buy online, ok. Then if they want to buy online, but get it NOW… that’s where your brand becomes the hero with your click and collect offering!
7 – Strengthens Brand Image
Even though there is so much discussion about omnichannel retail in the industry, many, if not most retailers are still not there yet. Being one of the brands that adopts omnichannel retail means you brand will both differentiate, and strengthen the brand image of being customer centric. Who wouldn’t want their brand to stand for giving the shopper what they want, and giving it to them any way they want to purchase. Click and collect means your customers simply have more options. More flexibility than most other retailers means your brand wins!
8 – Gives Customers More Flexibility
Flexibility is important to many shoppers. For example, many shoppers like online ease, yet live in apartments where deliveries can be a major hassle. A few courier depots to which I have had to travel, have horrible pickup locations. Instead, offering customers in-store pickup gives them flexibility that could vastly improve their entire buyer’s journey. In a world with so many rules, policies and standards – showing some flexibility could be a loyalty winning strategy.
9 – Ensures You Are Not Left Behind
Let’s face it, omnichannel retail is gaining momentum. At the moment, it is still in the early stages of mass deployment. There is still an opportunity to differentiate by being among the early adopters. However, whatever you do, you don’t want your retail brand to be known for being a laggard. That is a recipe for losing shoppers of every generation.
10 – Gives Them The Service Experience
There has been an interesting trend toward online pureplay retailers, opening bricks-and-mortar stores. Why? Well, it is a testament to omnichannel retail. Having a physical presence means the brand can offer an exception customer experience. Brands like Frank & Oak, for example, even have an in-store barber shop. The brand stands for a customer journey, a customer buying experience. Getting shoppers to complete an in-store pickup means, you have one more chance to provide an exceptional customer experience. Use it!
11 – Boosts Customer Loyalty
The culmination of all customer experience elements build up to customer loyalty. Sure, you don’t hear about this anymore in retail. Shoppers are fickle. Yes, that is true. Yet, the retailers that stand out, and provide a net benefit, show flexibility, and provide a great shopping experience – will be the winners. Make it easy, be flexible, and make it a positive experience – and how can you miss increasing your customer loyalty? In-store pickup isn’t going to do this all on it’s own… but it is a major step on this journey.