Nikki Baird of Retail Systems Research has written a great article about implementing buy online & pick up in store in their weekly column Retail Paradox. She talks about the ROI potential and if it is necessary for retailers to implement these capabilities.
“Is buy online/pick-up in the store (BOL/PUIS from here on out) the cross-channel activity with the highest ROI? The panel’s consensus: the ever-popular answer, “It depends.” It certainly can provide a solid ROI – despite fears of channel cannibalization, whether coming from stores or from online, BOL/PUIS actually offers growth opportunities. It captures online sales that would have been lost because the consumer needed it “right now.” It also is additive to in-store sales, as consumers coming into stores tend to purchase more than just the item they came in to pick up.”
I agree with these statements and they are all very valid. I also think that it’s beyond the ROI you are able to measure directly in same store sales year over year. It comes down to customer experience and the loyalty that the positive experience generates. We know that 17% of store sales, about $400 billion, is currently influenced by online research. Forrester predicts this to be over $1 trillion in the next 5 years. As the reliance on information on the web continues to increase, customers will demand to be able to do business in whichever channel suites them at that particular time. If a consumer is not able to achieve the experience they are looking for, their loyalty will go elsewhere. (continue reading…)
