Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "Buy Online Pick Up in Store (BOPIS) Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global BOPIS (Buy Online, Pickup In-Store) market is poised for substantial growth, with estimations projecting a value of around US$ 666.20 billion by 2028.
BOPIS represents a strategic fusion of online shopping and brick-and-mortar stores, catering to customers who seek the convenience of online shopping without waiting for deliveries or incurring shipping costs.
This approach not only accelerates order readiness compared to home delivery but also provides flexible pickup times, allowing customers to save time after work or during their commutes. By streamlining the purchasing process for retailers, BOPIS drives sales, enhances customer satisfaction through personalized experiences, and significantly reduces costs by eliminating shipping expenses, positioning it as a mutually beneficial strategy.
Expected Compound Annual Growth Rate (CAGR):
The global BOPIS market is anticipated to register a Compound Annual Growth Rate (CAGR) of 11.57% between 2022 and 2028. The in-store experience remains a vital point of engagement for retail chains aiming to fortify their customer relationships. BOPIS offers retailers increased profit potential, allowing customers to explore additional items while collecting their online orders, as opposed to alternatives like curbside pickup. This unique opportunity encourages customers to make supplementary purchases, thereby boosting loyalty and the likelihood of revisiting the same stores. This dynamic reinforces the buyer-seller relationship, ultimately benefitting both parties.
Enhancing Customer Engagement and Experience:
Customers value BOPIS for its ability to save time, money, and effort. The convenience of online platforms for exploring, comparing, and purchasing products seamlessly extends to BOPIS for efficient online-to-in-store pickups. Retailers leverage this online accessibility to offer real-time inventory updates and streamlined ordering, enhancing the overall BOPIS experience.
Global Influence of Technological Advancements:
Technological advancements have played a pivotal role in fostering the BOPIS trend. Increasing adoption of smartphones, tablets, laptops, and internet traffic across developed regions is propelling the e-commerce industry to unprecedented heights. With comprehensive software available on smartphones and laptops, consumers can review products, experiences, and satisfaction, shaping their preferences and delivery expectations.
Strongholds in North America, Europe, and Asia:
North America and Europe, with their high digitalization rates due to widespread internet penetration, are at the forefront of the BOPIS trend. The COVID-19 pandemic has further accelerated this trend, with safety concerns and social distancing measures leading more consumers toward contactless pickup options. This has underscored the reliability and security of BOPIS as a shopping method, contributing to its rising prominence.
China Leads the Global BOPIS Market:
Among the nations leading the BOPIS market are the United States, India, China, Canada, the United Kingdom, Russia, Germany, Spain, Italy, Netherlands, and others. China's dominance in the BOPIS market can be attributed to its massive population, widespread e-commerce penetration, and rapidly growing retail infrastructure. BOPIS fulfills Chinese consumers' demand for convenience by seamlessly combining online shopping with same-day in-store pickup. Significant investments in technology, logistics, and omnichannel strategies have propelled its adoption, solidifying China's leadership in the global BOPIS market.
India's Rapid Growth:
India is emerging as a significant player in the BOPIS market due to its dynamic digital landscape, e-commerce adoption, and burgeoning retail ecosystem. A young and tech-savvy population, coupled with increasing smartphone penetration, fuels the demand for convenient shopping experiences. BOPIS resonates strongly with Indian consumers seeking online convenience and immediate in-store collection. Indian retailers are quick to embrace omnichannel strategies, optimizing BOPIS to enhance customer satisfaction and streamline operations.
Focus on Key Product Categories:
The global BOPIS market encompasses ten key product categories: 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, and Others. The health, personal care, and beauty sector thrive within the BOPIS model, as consumers prioritize authenticity, testing, and personalized consultations. The tactile nature of beauty products aligns well with in-store pickup, driven by the desire for immediate satisfaction and eco-friendly shopping choices.
Key Payment Method Trends:
The BOPIS market's payment methods encompass Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy Now, Pay Later (BNPL), Cash on Delivery, Prepay, and Other. Digital wallets gain prominence due to their seamless payment integration, security, and touchless nature, which align well with safety concerns during the pandemic. Digital wallets also facilitate loyalty programs and personalized offers, enhancing the overall shopping experience.
Prominent Industry Players:
Key industry players shaping the BOPIS market include Walmart, Zara, Home Depot, Macy's, Kohl's, and Target.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $345.38 Billion |
| Forecasted Market Value (USD) by 2028 | $666.2 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global BOPIS Market
6. Market Share - Global BOPIS Market
6.1 By Countries
6.2 By Product Categories
6.3 By Payment Methods
7. Countries - Global BOPIS Market
7.1 North America
7.1.1 United States
7.1.2 Canada
7.2 Latin America
7.2.1 Brazil
7.2.2 Mexico
7.2.3 Argentina
7.3 Europe
7.3.1 United Kingdom
7.3.2 France
7.3.3 Germany
7.3.4 Spain
7.3.5 Italy
7.3.6 Netherlands
7.3.7 Norway
7.3.8 Sweden
7.3.9 Switzerland
7.3.10 Russia
7.3.11 Turkey
7.4 Asia Pacific
7.4.1 India
7.4.2 China
7.4.3 Japan
7.4.4 Indonesia
7.4.5 Korea
7.4.6 Australia
7.5 Middle East & Africa
7.5.1 Saudi Arabia
7.5.2 UAE
7.5.3 Israel
7.5.4 South Africa
7.6 Rest of World
8. Product Categories - Global BOPIS Market
8.1 Auto and Parts
8.2 Food and Beverage
8.3 Apparel and Accessories
8.4 Health and Personal Care and Beauty
8.5 Computer and Consumer Electronics
8.6 Office Equipment and Supplies
8.7 Toys and Hobby
8.8 Furniture and Home Furnishing
8.9 Books/Music/Video
8.10 Other
9. Payment Methods - Global BOPIS Market
9.1 Digital Wallet
9.2 Credit Card
9.3 Debit Card
9.4 Account-to-Account (A2A)
9.5 Buy Now, Pay Later (BNPL)
9.6 Cash on Delivery
9.7 Prepay
9.8 Other - Incl. Cryptocurrency
10. Porter's Five Forces
11. SWOT Analysis
12. Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/igwo5k
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