Buy online, pickup in store (BOPIS) is a must-have service for brick-and-mortar retailers of all sizes. Consumers now expect the convenience of online ordering combined with the ability to quickly pick-up their order (no matter how big) at a retail location that is close to their home or place of business.
BOPIS is a convenience for the customer and can increase sales revenue of additional items by as much as $40 per purchase. However, retailers must have the in-store infrastructure in place for purchases to be fulfilled and readily available prior to customer pickup. Enabling secure payment processing is a key part of BOPIS and ensures that the customer enjoys the experience and the retailer gets paid.
Unfortunately, the percentage of fraudulent BOPIS purchases is above average, with retailers reporting a loss of 3-5 percent (with some as high as 10 percent or more). Enabling the convenience of BOPIS without forsaking massive loss is the delicate balance that loss prevention professionals now face. Download this guide on the best ways to balance BOPIS and LP.