HotWax Commerce Blog

The retail industry has changed forever. The advancement of technology, especially mobile devices, has ushered in a new era of how customers prefer to shop. A 2017 Harvard Business Review study found that 73% of people prefer to use multiple channels during their shopping journey, and this has since grown to more than 90%. All retailers must now have omnichannel strategies in place to take advantage of ever-evolving consumer preferences, or they risk being left behind more digitally savvy brands.

The retail industry continues to evolve with the times, and the growing popularity of the buy-online-pick-up-in-store (BOPIS) sales model is contributing to the market’s rapid growth. BOPIS blends the best of physical retail with the online experience, which allows both brick-and-mortar and e-commerce sales to thrive. Still not convinced how BOPIS has ushered in a new era of the retail industry?

We are living in a mobile-first world. Millennials and GenZ have foregone the window shopping of their parents’ generations and are instead browsing storefronts on their mobile devices, constantly on the hunt for their next purchase. Studies show that, in the US, more than 50% of eCommerce website traffic comes from mobile, and this number jumps to as much as 80% in China. These numbers are only expected to grow year over year, yet surprisingly very few brands are prepared to meet and capitalize on this demand.

As the retail apocalypse continues to rage and some of the world’s most iconic brands retreat into bankruptcy, it’s time to start seriously re-evaluating and re-defining commerce. The future is clear to anyone that’s been paying attention: omnichannel retail.

Let’s cut to the chase: if you’re not already offering a pick-up in-store option, you should be. Premium retailers provide a variety of purchase, pick-up, and return options because, frankly, consumers are demanding unprecedented convenience and flexibility from their shopping experience.