Buy Online Pick Up in Store (BOPIS) Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Buy Online Pick Up in Store (BOPIS) Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis
Global BOPIS Market will be worth roughly US$ 666.20 Billion by 2028, according to Renub Research. Presently, BOPIS (Buy Online, Pickup In-Store) is a fantastic e-commerce strategy that creates a great fusion of online shopping and physical stores. Customers who want the convenience of online shopping without waiting for deliveries and those who want to save money on shipping find this option appealing. BOPIS guarantees order readiness more quickly than home delivery and offers flexible pickup times, saving time for customers after work or on their commutes. By streamlining the purchasing process for retailers, BOPIS boosts sales, improves customer satisfaction through a customized experience, and, most importantly, lowers costs by doing away with shipping, making it a win-win move.

Between 2022 and 2028, Global BOPIS Market will register a CAGR of 11.57%

The in-store experience is still regarded as a crucial point of contact for retail chains looking to strengthen their relationship with their customers. BOPIS offers retailers a lot more potential profits to consider. Contrary to curbside pickup (an otherwise similar fulfillment model), pick up in locker, and many other techniques, BOPIS presents a remarkable opportunity for customers to browse more and purchase additional items while picking up their online shopping order.

While picking up their already ordered online item, most customers buy extra or unplanned products from the store. It is claimed that nearly 50% of consumers make additional purchases while accepting deliveries. This improves loyalty and the propensity to frequent the same stores, which ultimately boosts consumer confidence in merchants. As a result, it strengthens the buyer-seller relationship through the BOPIS model in a corresponding manner. Customers also value the numerous ways BOPIS saves them time, money, and hassle. Buy online pick up in store market, in general, contributes significantly to customer engagement through such stores, which is advantageous to both retailers and customers.

Online platforms serve as a convenient gateway for customers to explore, compare, and purchase products via their devices, extending to BOPIS for seamless online-to-in-store pickup, capitalizing on e-commerce speed, and avoiding delivery wait times. Retailers leverage this online accessibility for real-time inventory updates and streamlined ordering, enhancing the BOPIS experience.

Furthermore, technological advancements have played a crucial role in facilitating the BOPIS boom. Augmenting adoption of smartphones, tablets, laptops and web traffic across the various developed regions is most firmly boosting the ecommerce industry than ever before. With highly dilated software across the market existing on smartphones & laptops, consumers choose to go through reviews, experience, and satisfaction helps them to prefer the product and process of delivery accordingly.

North America and Europe are highly developed locations where digitalization is extensive due to the excessive internet penetration rate, and that’s why BOPIS is becoming one of the dominating trends in the industry. The COVID-19 pandemic has further accelerated this trend, as safety concerns and social distancing measures pushed more consumers towards contactless pickup options, emphasizing the importance of BOPIS as a reliable and secure shopping method. Global BOPIS Market was worth US$ 345.38 Billion in 2022.

China has dominance in the Global BOPIS Market

The nations present are the United States, India, China, Canada, United Kingdom, Russia, Germany, Spain, Italy, Netherlands, Norway, Sweden, Switzerland, Brazil, Mexico, Australia, Japan, Saudi Arabia, UAE, South Africa, Argentina, France, Indonesia, Korea, Turkey, and Israel. The growth of BOPIS market in China is because of its massive population, extensive e-commerce penetration, and rapidly expanding retail infrastructure. Chinese consumers want convenience, and BOPIS satisfies this by offering a seamless combination of online shopping and same-day in-store pickup. Furthermore, significant investments in technology, logistics, and omnichannel strategies have sped up the adoption and made it a popular option for customers and businesses, cementing its leadership in the Global BOPIS Market.

India is emerging as the fastest-growing player because of its dynamic digital landscape, e-commerce adoption, and burgeoning retail ecosystem. A young and tech-savvy population and the rising smartphone penetration are fuelling the demand for convenient shopping experiences. BOPIS resonates strongly with Indian consumers seeking online convenience and instant in-store collection. Indian retailers quickly embrace omnichannel strategies, optimizing BOPIS to enhance customer satisfaction and streamline operations.

Health, personal care, and beauty sector experience rapid growth in the global BOPIS (Buy Online, Pick Up In-Store) market

There are ten product categories in the global BOPIS market, namely 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 Other. Consumers prioritize product authenticity, testing, and personalized consultations, making in-store pickup ideal. The need for immediate gratification and ensuring the suitability of beauty products drives this trend. Furthermore, the desire to reduce shipping costs and environmental impact boosts BOPIS adoption. Retailers recognize these demands, optimizing BOPIS to create a seamless shopping experience. Combined with the convenience of online browsing, the sector's personalized nature, and the growth of omnichannel strategies, health, personal care, and beauty have become a focal point in the flourishing BOPIS market.

The fashion industry thrives on the tactile experience, allowing customers to see, touch, and interact with products before purchase. Moreover, reducing shipping costs and environmental impact drives BOPIS adoption. Retailers recognize these trends, optimizing the BOPIS model to offer convenience, personalization, and seamless integration between online browsing and in-store collection, making apparels and accessories a driving force in the Global BOPIS Market.

Digital wallets are gaining popularity in the global BOPIS (Buy Online, Pick Up In-Store) market due to their seamless integration of payment and convenience
Based on payment methods, the global BOPIS market is divided into Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy Now, Pay Later (BNPL), Cash on Delivery, Prepay, and Other (including cryptocurrency). Buyers can securely store payment information, making the checkout process swift and reducing friction during in-store pickups. The touchless nature of digital wallets aligns with safety concerns, especially during the ongoing pandemic. Moreover, digital wallets facilitate loyalty programs, discounts, and personalized offers, enhancing the overall shopping experience. As BOPIS continues to evolve, digital wallets provide a streamlined and secure payment method that complements the convenience and efficiency of the model, further boosting their prominence in the global market.

Key Players

Walmart, Zara, Home Depot, Macy’s, Kohl’s, and Target comprise the leading companies in the Global BOPIS Market.

Renub Research latest report “Global BOPIS Market, 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 Other), Payment Methods (Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy Now, Pay Later (BNPL), Cash on Delivery, Prepay, and Other (including crypto currency)), Country (United States, Canada, Brazil, Mexico, Argentina, United Kingdom, France, Germany, Spain, Italy, Netherlands, Norway, Sweden, Switzerland, Russia, Turkey, India, China, Japan, Indonesia, Korea, Australia, Saudi Arabia, UAE, Israel, South Africa, and Rest of World), Companies (Walmart, Zara, Home Depot, Macy’s, Kohl’s, and Target)” provides a detailed analysis of Global BOPIS Market.

Product Categories – Global BOPIS Market has been covered from ten viewpoints.

1. Auto and Parts
2. Food and Beverage
3. Apparel and Accessories
4. Health and Personal Care and Beauty
5. Computer and Consumer Electronics
6. Office Equipment and Supplies
7. Toys and Hobby
8. Furniture and Home Furnishing
9. Books/Music/Video
10. Other

Payment Methods – Global BOPISMarket has been covered from eight viewpoints.

1. Digital Wallet
2. Credit Card
3. Debit Card
4. Account-to-Account (A2A)
5. Buy Now, Pay Later (BNPL)
6. Cash on Delivery
7. Prepay
8. Other (including cryptocurrency)

Country – Global BOPIS Market has been covered from nineteen viewpoints

1. North America

1.1 United States
1.2 Canada

2. Latin America

2.1 Brazil
2.2 Mexico
2.3 Argentina

3. Europe

3.1 United Kingdom
3.2 France
3.3 Germany
3.4 Spain
3.5 Italy
3.6 Netherlands
3.7 Norway
3.8 Sweden
3.9 Switzerland
3.10 Russia
3.11 Turkey

4. Asia Pacific

4.1 India
4.2 China
4.3 Japan
4.4 Indonesia
4.5 Korea
4.6 Australia

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 Israel
5.4 South Africa

6. Rest of World

Company Insights

• Overview
• Recent Development
• Sales Analysis

Analysis of six companies in the global BOPIS market

1. Walmart
2. Zara
3. Home Depot
4. Macy’s
5. Kohl’s
6. Target