US BOPIS Analytical Report 2024: Over $440 Billion

Dublin, May 24, 2024 (GLOBE NEWSWIRE) — The United States BOPIS Market Report by Product Category, Payment Method and Company Analysis 2024-2032 report has been added to ResearchAndMarkets.com offering.

The U.S. Buy Online, Pick Up in Store (BOPIS) market is on a sustained growth path, with forecasts indicating a solid compound annual growth rate (CAGR) of 16.45% over 2024-2032. Based on a significant valuation of $111.84 billion in 2023, the market is expected to grow to $440.39 billion by 2032, signaling a transformational shift in shopping habits and retail strategies.

In the face of changing consumer preferences and the desire for instant gratification, nearly two-thirds of U.S. retailers have adopted the BOPIS approach, which combines the convenience of online shopping with the immediacy of in-store pickup. Not only did this enable consumers to avoid shipping costs and reduce wait times, but it also resulted in significant foot traffic to physical stores. The expansion of this offering, which now includes options such as curbside pickup and enhanced customer service, allows retailers to leverage BOPIS as a competitive advantage.

In line with the growing digital economy, the United States saw over 268 million online shoppers in 2022. This broad use of BOPIS is reflected in the marked increase in the use of curbside pickup and in-store pickup. Additionally, the vast majority of US consumers have expressed their preference for this shopping model.

Evolution of payment methods

There is also a change in payment preferences on the BOPIS market, with digital wallets becoming more and more popular. While traditional payment methods continue to dominate, alternative methods, including account-to-account (A2A) and buy now, pay later (BNPL), have emerged to meet a variety of consumer needs.

Company adaptations and strategic moves

Leading retailers are evolving their offerings to adapt to this paradigm. Announcements of new apps and curbside pickup services are evidence that companies are leveraging technology to facilitate BOPIS, as seen in initiatives by major players like Best Buy and Kohl’s.

In particular, Best Buy’s BOPIS strategy has been credited with a significant portion of the company’s online revenue, highlighting the critical role such services play in the current retail landscape.

Such strategic changes aim to enhance the shopping experience and meet consumers’ increased demand for efficiency and immediacy, strengthening the future importance of omnichannel services in retail.

Product categories and payment method preferences

The BOPIS marketplace covers a wide range of product categories, from cars and parts to furniture and home furnishings. Additionally, different payment method preferences shape the way consumers choose to transact, making it necessary for retailers to offer a variety of options to meet diverse market demands.

As this area of ​​the market is constantly evolving, it illustrates the dynamic nature of consumer preferences and the ever-changing retail industry. Retailers that capitalize on these trends through innovation and customer-centric strategies can gain significant competitive advantages in the coming years.

Key Features:

Report attribute	Details
number of pages	125
Forecast period	2023 – 2032
Estimated market value (USD) in 2023	$111.84 billion
Projected market value (USD) until 2032	$440.39 billion
Compound annual growth rate	16.4%
Regions covered	United States

Featured companies

• Walmart
• Home Depot Inc.
• Kroger Co
• Macy’s
• Kohl
• Costco Wholesale Corporation
• Best Buy Co., Inc.
• Nordstrom Inc

More information about this report can be found at https://www.researchandmarkets.com/r/v490lr

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