Dive Brief:

• Stein Mart announced Tuesday it will offer buy online, pick up in-store (BOPIS) to customers at all of its 283 locations, according to a company press release.

• The retailer expects the move will result in about 15% of its online orders being fulfilled through in-store pickup.

• Stein Mart also noted that it expects shoppers will be more likely to buy additional items while in store as a result of the service, which will have the ancillary benefit of boosting its profitability through shrinking shipping costs and "creating incremental attachment sales."

Dive Insight:

Stein Mart acknowledged in its announcement that efforts to modernize its omnichannel capabilities are meant to distinguish itself from its competitors, adding that such advancements have already been adopted by other retailers. 

"BOPIS has been gaining momentum as a customer experience differentiator and we're thrilled to be the first U.S. off-price retailer to offer this service," Stein Mart President MaryAnne Morin said in a statement. "Customers want a quick and convenient shopping journey. They also want to save time and money with free in-store pickup. With BOPIS, we can provide both."

In addition to expanding its BOPIS offering, the retailer has also introduced endless aisle tech (which allows in-store shoppers to browse inventory that's either out of stock or sold through other channels), as well as mobile point-of-sale tech on the consumer-facing side of its business. These investments allow store staffers to use mobile devices to find and order products for customers, and speed up checkout during peak periods. It also adopted "Smart Fulfillment" to find the best location from which to send online orders to customers, whether from a store or warehouse, which will also speed up shipping times and decrease costs, the company said.

The retailer's omnichannel updates come at as the retailer faces trouble on the stock exchange. Nasdaq notified Stein Mart that it faces possible delisting as a result of not meeting its trading requirements. The notification was prompted by its stock trading at less than $1 for more than a month. 

However, that's just one of the retailer's woes. The company had lost about $13 million in inventory in 2017, and now carries the risk of a potential bankruptcy.

In 2018, it organized a special committee to examine its operations and look for areas of improvement. And this past May, the company built out Amazon lockers at almost 200 Stein Mart locations that will allow Amazon customers to pick up purchases in Stein Mart stores.