WASHINGTON PRIME GROUPFULVENTORYLAST MILE FULFILLMENT SPACE INSIDE WPG ASSETS

MAY 2020

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T H E B E N E F I T S O F B O P I S .Meet BOPIS and his cousin Boris . While BOPIS is cer tainly more appeal ing , truth be told , the

consuming public f inds both of them pretty darn desirable . We’re gonna provide some statistical

evidence as to why but when al l is said and done, there’s a pretty basic reason as to why these

funny sounding acronyms as wel l as physical retai l in general resonate with shoppers .

Plain and simple , we l ike to see , touch , smell , hear and taste stuf f.

Consumers Prefer BOPIS

WPG bel ieves a symbiotic re lationship exists between physical retai l and eCommerce and

that ’s why we’re rol l ing out our last mile fulf i l lment solution , Fulventory. Actual ly so does the

US consumer. According to a Business Insider survey, 68% made multiple ‘cl ick and col lect ’

purchases during 2019. The abi l ity to pick up merchandise in store also determines where

shopping takes place. Over 50% select an eCommerce site based upon whether or not it of fers

a BOPIS option .

In fact , other factors contr ibute to the high adoption of BOPIS by the US consumer. Let ’s let the

numbers continue to do the talking . According to the same Business Insider survey, par ticipants

cited del ivery cost (48% ), convenience (28%) and speed (39%) as additional BOPIS attr ibutes

valued by the US consumer.

BOPIS SHOPPER CHARACTERIZED BY SEVERAL SHOPPING TRIPS PER WEEK.

BOPIS AND BORIS ESTIMATED ADOPTION BY 2024 OF 90% AND 81%, RESPECTIVELY.

OMNICHANNEL

FULFILLMENT REPORTSOURCE: bus iness ins ider inte l l igence

Frequency of buying

goods onl ine and col lecting

in store

SOURCE: THE NEW T YPOGR APHY OF RETAIL

32%Several Times a Week

Adoption of BOPIS across big box, department store, fashion, activewear, and specialty retail verticals is expected to grow from

The most essential omnichannel services are

BOPISbuy online, pickup in-store

BORISbuy online, return in-store

US retailer adoption BORIS is expected to increase from

2016

2016

44%

40%

2024

2024

90%

81%

8%Daily

23%< Once a Week

37%Once a Week

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T H E B E N E F I T S O F B O P I S .BOPIS Benefits Retai lers

A formidable 85% of shoppers surveyed indicated they have made additional in

store purchases while picking up an onl ine order. As a matter of fact 15% do so

‘somewhat f requently ’ (bless their hearts).

Furthermore , once a shopper is in your store you have increased the l ike l ihood

he or she wil l succumb to the temptation of the e ighth deadl iest sin…an impulse

purchase… by strategical ly placing select merchandise within close proximity

to where the BOPIS hand of f occurs .

BOPIS also provides retai lers the abi l ity to pass a long last mile shipping expense

or, if overly magnanimous , of fer discounts to BOPIS customers . Rewarding

BOPIS shoppers with targeted in store promotions and reward programs is a lso

a highly motivating factor as cited by 45% of consumers surveyed.

As i l lustrated the reciprocal benef its for both retai lers and shoppers are pretty

compell ing… operating ef f icacy… increased sales… happy customers… but you

already knew that .

FULVENTORY CAPTURES THE NEXUS BETWEEN PHYSICAL RETAIL AND

eCOMMERCE

eCOMMERCE PHYSICAL RETAIL

FU

LV

EN

TO

RY

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C O N V E N I E N T A N D C O S T E F F E C T I V E .So here’s the plan…we’re of fering three space options…small , medium and large…

all situated within our enclosed and open air assets . All have interior and exterior

entranceways and of fer 24 hour access . Fulventory space wil l be situated within

a distinct corridor of a WPG asset far enough away from your full price store

albeit one heck of a lot closer than that warehouse near the airport where there

is no chance whatsoever to sell an additional item…or two…or three. On average

your Fulventory space wil l be about 45 seconds from your store.

We’re going to leave it up to you regarding pick ups and drop of fs . By this

we mean whether you use a scheduling notif ication application, automated

lockers with passcode or a good old fashioned runner going back and forth . Our

Information Services folks can assist you from a technology perspective and our

local management team can arrange for a pair of sturdy legs .

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T H I N K I N S I D E T H E B OX .While we sure wouldn’t complain if we were able to charge retail rental rates , you

would. Besides , we l ike the idea of of fering our tenant partners a viable amenity.

So we’re of fering each of our three configurations at a rental rate comparable to

(if not lower than) last mile fulf i l lment space and we’l l actually f ix that amount

for a three year term. You get a vanil la box…all you have to do is provide the

racking system and f i l l it up. If you’d l ike turnkey, our space planning experts wil l

work with you as well .

In addition to uti l izing your Fulventory space for local and/or regional last mile

fulf i l lment, feel free to use it for inventory clearance as it provides a discrete

sales location, hence, maintaining separation between full price and discounted

merchandise.

We also have several 10,000 to 20,000 SF spaces throughout our portfolio

suitable for larger scale regional distribution requirements .

SMALL675 SF

MEDIUM1,250 SF

LARGE2,500 SF

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C O N C E P T UA LR E N D E R I N G S .

ConcourseEntrance

Featured Merchandise

ExteriorEntranceDigital Displays

Fulfillment