Global BOPIS market, Size, Share, Growth | Forecast (2023 - 2028) | Renub Research
Global BOPIS market will expand at a CAGR of 11.57%, during 2022 and 2028. Currently, the rising popularity of online shopping among consumers is significantly boosting the future growth of the BOPIS market. As per the International Council of Shopping Centers (ICSC), almost half of all adult shoppers use BOPIS, and 67% of those shoppers include more products to their carts when they know they can fetch them right away. During COVID-19, individuals were more acquainted with BOPIS services and used to order groceries online to escape the possibility of coronaviruses. These services have been rapidly expanding during COVID-19, hastening BOPIS market growth.
BOPIS has become a popular retail strategy around the world because it gives customers the best of both worlds: online shopping and in-person pickup. Thus, buy online, pick up in-store is an excellent e-commerce strategy that helps create a great blend of online shopping and physical stores, making the shopping process more convenient for its customers. BOPIS allows you to shop from the comfort of home, purchase the item online, and then return to the store to see if it is ready for pickup. Global BOPIS Market will value about US$666.20 Billion by 2028. In a report named " Global BOPIS Market: Global Market Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028," issued recently by Renub Research, market share insights are incorporated along with a detailed industry analysis. The analysis of competitors, topographical regions, and growth for global BOPIS market is also enclosed in the report.
Moreover, customers are concerned about the cost of transportation or delivery. The most significant difference between managing third-party fleets and delivering to both customers and retailers is cost. It is no surprise that cost is by far the most important motivator for people choosing to pick up orders in-store, and it was the most important factor for them. The BOPIS model also has lower overhead costs than delivery, as existing locations and staff are used to fulfill both regular in-store orders and orders purchased online. Furthermore, when comparing both models with and without customer fees, BOPIS demonstrates unmistakably that it has higher margins. It is safe to assume that providing free or low-cost in-store pickup during checkout will reduce cart abandonment rates for retailers.
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India is experiencing rapid growth in the global "Buy Online, Pick Up In-Store" (BOPIS) market.
The burgeoning e-commerce landscape in the country, coupled with a vast population and increasing smartphone penetration, has created a fertile ground for buy online, pick up in-store adoption. Indian consumers seek the convenience of online shopping while also valuing the ability to inspect products before purchasing. BOPIS bridges this gap, offering a hybrid shopping experience that allows customers to enjoy both online browsing and in-store pickup. Furthermore, logistics challenges and varying delivery times have led consumers to embrace BOPIS as a way to access products faster and more reliably.
Product Categories – Global BOPIS Market has been covered from ten viewpoints.
- Auto and Parts
- Food and Beverage
- Apparel and Accessories
- Health and Personal Care and Beauty
- Computer and Consumer Electronics
- Office Equipment and Supplies
- Toys and Hobby
- Furniture and Home Furnishing
- Books/Music/Video
- Other
The apparel and accessories category is asserting dominance in the global BOPIS market due to a blend of consumer preferences and industry dynamics.
Consumers often prioritize trying on clothing and accessories for fit and style before making a purchase. buy online, pick up in-store caters to this need, allowing shoppers to browse and order items online while ensuring a seamless in-store pickup experience for immediate evaluation. Furthermore, the fashion industry's rapid product turnover and seasonal trends make BOPIS an efficient solution, enabling retailers to quickly align online offerings with in-store merchandise. The desire for instant gratification and the assurance of secure, hassle-free pickup also enhances the appeal of BOPIS for time-sensitive purchases. Retailers capitalize on this trend by optimizing inventory management and providing personalized services that enhance the overall shopping experience.
Payment Methods – Global BOPIS Market has been covered from eight viewpoints.
- Digital Wallet
- Credit Card
- Debit Card
- Account-to-Account (A2A)
- Buy Now, Pay Later (BNPL)
- Cash on Delivery
- Prepay
- Other (including cryptocurrency)
Digital wallets are experiencing substantial growth in the global BOPIS market due to their seamless integration of online and offline payment processes.
With consumers seeking convenient, contactless payment options, digital wallets provide a secure and efficient way to complete transactions. BOPIS further enhances this convenience by allowing customers to prepay for items online and then effortlessly complete the purchase during in-store pickup. Moreover, digital wallets streamline loyalty programs, discounts, and rewards, fostering customer engagement and retention.
The growing reliance on smartphones and mobile apps aligns with the adoption of digital wallets, creating a user-friendly shopping experience. As retailers invest in optimizing BOPIS systems, the synergy between digital wallets and the offline shopping journey drives customer satisfaction and brand loyalty. The combination of technological convenience, payment efficiency, and enhanced customer experience positions as a digital wallets are driving force in the growth of the global buy online, pick up in-store market.
Country – Global BOPIS Market has been covered from nineteen viewpoints.
- United States
- Canada
- Brazil
- Japan
- China
- Korea
- India
- Russia
- Turkey
- Europe
- France
- Germany
- Italy
- United Kingdom
- Spain
- Australia
- Ireland
- South Africa
- Rest of the World
Competitive Landscape.
The global BOPIS market is led by Walmart, Zara, Home Depot, Macy's, Kohl's, and Target.
Company Insights.
- Overview
- Recent Development and Initiatives
- Sales Analysis
Company Analysis.
- Walmart
- Zara
- Home Depot
- Macy’s
- Kohl’s
- Target
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