The BOPIS market of North America & Europe in terms of revenue was worth USD 207.79 Billion in 2020 and is expected to reach USD 625.98 Billion in 2027, growing at a CAGR of 16.49% from 2021 to 2027. North America and Europe’s BOPIS markets are expected to grow at a significant growth rate due to a number of driving factors.
BOPIS full form is Buy Online, Pick Up in Store. It enables retailers to combine the online and in-store experience to do business with customers while providing a more convenient way of shopping. In this process, first, the customer completes the purchase online and simultaneously chooses time and store location to pick up the purchased product. Then the store picks up the order and pack it for the customer, customer goes to nearby store to pick up his/her order which only takes maximum few hours compared to traditional online shopping.
BOPIS Market Companies:-
Some major key players for the global BOPIS market are Walmart, Zara, Home Depot, Michael’s, Macy’s, Kohl’s, Target, Petco, Shopgate
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Global BOPIS Market Segmentation
Global BOPIS market report is segmented based on type of product, platform and end-user and by regional & country level. Based on component, global BOPIS market is classified as electronic devices, apparel, footwear, accessories, books and others. Based upon the platform, global BOPIS market is classified into website, mobile app. Based upon end user, global BOPIS market is classified into men, women and others.
By Type of Product: (Electronic devices, Apparel, Footwear, Accessories, Books, Others)
By Platform: (Website, Mobile app)
By End-user: (Men, Women, Others)
North America is dominating the global BOPIS market with the highest market share due to high awareness among customers, high rate of using smartphones, presence of e-commerce and retailers such as Walmart etc. for instance, in 2019, more than 65% of shoppers of USA have used BOPIS and it is estimated that about 10 percent of all sales are going to be done through click and collect by 2025. Additionally, 49% of all US shoppers who used BOPIS also made an unintended purchase while picking up their items in store. It is estimated that 90% of retailers are going to implement BOPIS by 2021 due to advantages such as consumer preference, reduced shipping cost, and convenience to the customers.
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Which are the driving factors responsible for the growth of market?
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