COVID-19 has had a profound impact on the retail industry, to be sure. While an omnichannel shopping experience and e-commerce were already on the rise prior to the pandemic, demand for both sharply increased because consumers in all demographics needed contactless – but convenient – purchasing options.
The retail industry adjusted quickly to the situation: New shopping options began to take shape and quickly advanced from improvised remedies to long-term strategic retail solutions. Today, we call three of the most important of these solutions BOPIS, BORIS, and ROPIS. Because these options offer convenience to consumers and a multitude of benefits to retailers, all three are likely to grow in popularity long after COVID is history.
The accompanying resource presents an overview of these trends, insights on their advantages, and suggestions for how one or more of these options can be implemented. It is valuable reading for startups and established retailers eager to expand their service capabilities, attract new customers, and make sure existing customers remain satisfied.
BOPIS (Buy Online, Pickup In-Store) is the most prevalent option today, mainly because it works with just about any retail product that can fit in a consumer’s vehicle. BOPIS enables customers to place a contactless and convenient order online and eliminate the cost and delay of shipping. When the brick-and-mortar pickup location is nearby, BOPIS can produce a surge in business.
BORIS (Buy Online, Return In-Store) is a welcome addition to any retailer’s service offering but has the greatest value for items that have a high potential for returns. From the consumer’s perspective, dropping off a product at the store is much easier and faster than packaging it up and toting it to a parcel shipper. For retailers, BORIS can speed up the return process and reduce its cost.
ROPIS (Reserve Online, Pickup In-Store) enables a customer to reserve an item online – rather than purchase – and decide in-store whether to make the purchase. ROPIS is a terrific option for several types of items. For a major purchase such a refrigerator, consumers often want to “kick the tires” before spending the money, even if they are 90% sure they’ve found the one they want online. ROPIS also works for clothing items that need to be tried-on to ensure the right fit. ROPIS takes the pressure off consumers to make a purchase they’re not ready to make, and also helps the retailer by reducing returns and credits.
For more insights on these retail options, please continue reading our resource.
Infographic created by Fiserv