Since the advent of e-commerce, retailers have struggled to compete with the convenience offered by online stores.
But times have changed, and many retailers are starting to realise that the best way to compete with their digital counterparts is to learn from them, leading to a new retail strategy called BOPIS.
BOPIS or click and collect has proven to be incredibly popular with customers. According to Cybertill & Forbes, 72% of UK customers use BOPIS, while 21% claim they do all their purchases through the service. Retailers that adopt a BOPIS strategy will make tremendous gains, but to implement the strategy, they need to use the right software: Retail epos software.
BOPIS combines the convenience of online ordering with retail shopping to deliver the best of both worlds. With this option, customers can order products online, then go to the physical store to pick up their order.
At first, it might seem counterintuitive – why would customers forego the convenience of delivery over driving to the store? According to research, customers want to save money on shipping fees, so they visit the store to avoid the extra expense. The second reason is convenience. Customers want their products within hours of purchasing them, and shoppers are no longer content to wait days for their order. While Amazon offers same-day order service, it usually comes with conditions like Prime membership or a shopping basket above a certain value.
Retailers should get excited about BOPIS because it increases sales, boosts foot traffic and cuts costs. Retailers boost sales not only through online orders but also instigate this when shoppers arrive at the retail location. In this situation, they are more inclined to buy additional products, boosting sales for the retailer. With customers picking up their orders, retailers don’t have to focus on delivery. Delivery is a cost for small retailers, even with a fee, planning the logistics of a delivery service takes time and resources.
Retail EPOS software is a huge asset in building the foundation for BOPIS and here are a few reasons why.
It is impossible to offer BOPIS service without the option to order online and some retail EPOS software provide the option. Some EPOS systems integrate neatly into your website to offer online ordering. Small retailers who do not have a website of their own can still take online orders with the EPOS system, through a portal that looks like an easy-to-use web page. Therefore, online ordering is much more accessible with EPOS software.
Before a small retailer can invest in BOPIS, they need to make sure that the backend can keep up. Hence, inventory management needs to be sophisticated so that your employees can serve customers with speed and efficiency. Retail EPOS software provides the sophisticated inventory management system you need to sustain a BOPIS service. With an EPOS system, employees can bring up customer orders quickly, pack and store them in the right place before the customer arrives.
Some EPOS systems integrate online orders, so you will know demand levels, stock levels and other important information, all presented in a single, easy-to-understand view. With EPOS systems, inventory management will be more sophisticated and easier to perform, making a BOPIS service manageable.
Retail EPOS software support multiple payment options, whether it’s chip and pin for real locations or online payment. Retailers need to provide a seamless payment option for their customers, especially if they are paying online. Small retailers can use the EPOS system to create an online payment process that is seamless and easy for customers to follow.
Sometimes, customers want assurances that their order was acknowledged and registered. Small retailers can provide this service using retail EPOS software. But why stop there? Most EPOS systems feature email notifications as well.
What if you could send them friendly reminders asking them to come to pick up their order? This would reduce the incidents of people forgetting to pick up their order, and it is a great example of customer service on the part of your retail business.
BOPIS is a sales strategy. Therefore, while Retail EPOS software is a vital aspect, it is by no means, the only asset you need. You must also consider other areas of emphasis – for example, and perhaps most importantly, customer service.
BOPIS is the key retailers need to boost foot traffic, sales and profitability. For many years, physical retailers have been losing ground to e-commerce. However, by using an element of e-commerce, retailers now have a true way of building and sustaining a profitable business in the midst of an expanding technological era. But to make BOPIS possible, the right retail EPOS software is necessary.
To learn how an EPOS system can benefit retail businesses, visit our blog.