Innovative Retail Technologies

MAY-JUN 2017

Innovative Retail Technologies (formerly Integrated Solutions For Retailers) is the premier source for innovative yet pragmatic technology solutions in the retail industry.

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Page 19 of 39

Omni-Channel Retailing And The BOPIS Opportunity Retail executives' strategies are clear: Revenue growth remains a core strategic pillar with both digital and multichannel enablement seen as key elements driving that growth. More specifically, retail execs see multichannel as a key market growth opportunity. In the short term, retail decision makers are prioritizing the digital agenda by keeping up with changing customer demand on new touch points. Beyond that, retailers are particularly focused on integrating the various channels through which they interact with customers. To support these strategic plans, retail technology investment priorities outside of the store focus on logistics, multichannel integration, and the supply chain with modern mobile solutions a common requirement across all of these initiatives. One of the recent initiatives by retailers to provide greater purchasing flexibility is through BOPIS (Buy Online/Pickup in Store) applications. These innovative solutions bridge the digital and physical environments and address one of the key friction points in e-commerce — delivery. According to research conducted by VDC Research among midsize to large retailers, almost one in two retailers currently offer BOPIS services with another 31 percent planning to roll out these capabilities. A win-win strategy for all involved, in-store pickup helps shoppers get their products quickly and on their schedule while eliminating shipping expenses and driving in-store sales for retailers. But this increasingly popular fulfillment method requires sophisticated coordination between retail commerce technology and store associates, making it challenging to implement and maintain. Consequently, the actual implementation of these solutions is mixed, with some very successful results, while others fall well short of expectations. Key issues such as underestimating the cost of BOPIS/click-and-collect (including the addition of service fees to certain transaction sizes), adequately addressing the customer experience, and better management of returns processing are all areas retailers are looking to address. An additional key focal point for click-and-collect modernization lies in customer communication and better leveraging mobile channels to proactively communicate with customers, especially 17 Mobility 2017 TOTAL RESPONDENTS Delivering seamless customer experience across multiple channels 40% Ensuring store systems accurately portray available inventory 38% Raising awareness of BOPIS services 38% Communicating with customers if items are no longer available 38% Training staff to support picking and packing of online orders 32% Managing returns 31% Delivering a unique pickup experience for BOPIS customers 29% Managing incremental fulfillment costs 15% What are the top 3 challenges to implementing BUY ONLINE PICKUP IN STORE (BOPIS) services?

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