Word of the Day: BOPIS

Word of the Day: Daily updates on the latest technology terms

Word of the Day Daily updates on the latest technology terms | August 21, 2020 BOPIS BOPIS (buy online, pick up in-store) is a business model that allows consumers to shop and place orders online and then pick up their purchases in the brick-and-mortar store, often on the same day. BOPIS, sometimes referred to as 'click-and-collect,' is part of a multichannel approach that allows customers to switch among online, in-store and mobile channels when making purchases. In addition to being pandemic-friendly, BOPIS can save customers time when they are purchasing multiple items.   Typically, consumers shop and pay for items online and either select a pick-up time or register for automated text messages that will alert the shopper when purchases are ready to be picked up. When a BOPIS customer goes to pick up their purchases, they can either enter the store and verify their identify to receive purchases or text the store from curbside and have a sales representative bring purchases out. One of the biggest challenges in rolling out a BOPIS strategy is having real-time insight into inventory. Continue reading... Take today's Pop Quiz! Answer key below   1. A POS terminal is a computerized replacement for a cash register. What does POS stand for? Answer 2. __________ is the opposite of BOPIS.  It's the practice of going into a store to see, touch, hear or smell a product in person before going online to purchase the same product. Answer   3. What controversial term used by the media describes a shift in consumer spending patterns that is negatively impacting the traditional brick-and-mortar retail store business model? Answer   4. CX is the sum total of customers' perceptions and feelings resulting from interactions with a brand's products and services. What does CX stand for? Answer   5. What multichannel approach to sales seeks to provide customers with a seamless shopping experience, whether they're shopping online from a desktop or mobile device, by telephone or in a bricks-and-mortar store? a. omnichannel b. quad pipeline Answer Today's Takeaway "Investing in online retail is still a leap of faith requiring decisions on what services to build and what technology to bet on. Pandya believes that retailers who invest in buy online, pick up in store (BOPIS) and curbside pickup have seen those investments pay off, as BOPIS orders grew 23.3% in July 2020 compared with July 2019." -- Don Fluckinger Watch and Learn   Customer experience management is all about keeping the customer happy -- but it takes a lot of work. Watch to learn more about CX management techniques and best practices. Continue Learning As stores reopen, e-commerce is king in luxury retail Brick-and-mortar stores are reopening, but that doesn't mean retailers should lessen focus on online experiences. Olivela, a luxury retail company, strategizes for beyond COVID-19.   Microsoft, Salesforce, Oracle launch retail customer experience tools Retail in 2020 looks nothing like it did in 2010, or even 2015. It's to the point where it's no longer trendy or even buzzworthy to talk about distributor logistics.   E-commerce business growth slows, but still a boom period As the world partially reopens businesses shuttered due to the pandemic, new e-commerce tech investments may make gains from earlier this year permanent. Break down the components of Amazon's retail business Scan this overview of Amazon's various retail business units, from online platforms to brick-and-mortar stores, to understand what makes the company a dominant force in retail. How to collect customer data to improve overall retail CX Businesses need data to predict and adjust to customer wants and needs, but first, they need to figure out how to collect it. One option is to use digital CX software. Your chief digital officer can't be an afterthought anymore As we all adjust to the new normal, the digital experience a company provides is more important than ever. Companies need to reconsider how they handle their digital leadership. How to create a great customer experience strategy in 6 steps In today's business landscape, a powerful CX strategy is key to gaining customer loyalty and a competitive advantage. Here's how to deliver a great customer experience, plus a template. Pop Quiz Answer Key 1. point of sale 2. showrooming 3. retail apocalypse 4. customer experience 5. omnichannel Stay in Touch Thank you for reading! For feedback about any of our definitions or to suggest a new definition (or learning resource) please contact me at mrouse@techtarget.com FOLLOW US About This E-Newsletter The Word of the Day is published by TechTarget, Inc., 275 Grove Street, Newton, Massachusetts, 02466 US. Click to: Unsubscribe. 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