Following last week’s weak earnings for traditional big-box retailers like Macy’s, Nordstrom and J.C. Penney, Wall Street holds its breath as investors look ahead to another stretch of retailer earnings this week, with the likes Wal-Mart and Target set to release first-quarter reports.
To keep spending and marketshare from further sliding towards the ever-ubiquitous Amazon, retailers are aiming to meet consumer demand around the intersection of convenience and ease by jumping on to the “Click and Carry,” or BOPIS (Buy Online, Pick-Up in Store), trend – connecting the advantages of shopping online and the expediency of getting it in-store that day.
But are consumers really buying it? Slice Intelligence zoomed in on two retailer juggernauts, Target and Wal-Mart, to find out.
- Click and Carry still makes up a relatively low percentage of orders, making up 8.5 percent of Target orders and 14 percent of Walmart orders
- Click and Carry orders grew 64 percent Y-O-Y for Target, but only 4 percent for Wal-Mart.
- For both retailers, Click and Carry peaked during the holiday period (November-December)
Click and Carry dollars spending:
- Wal-Mart: majority spent on electronics (28 percent) followed by home & kitchen (12 percent)
- Target: spread across more categories, with electronics and home & kitchen the top two at 13 percent respectively