This new concept is an interesting combination of human factors and IT. I think it is a good business strategy as well.
The basic idea is to improve the user experience of in-store shopping by supporting users getting most of it done at their own pace beforehand online. Think of state-of-the-art online shopping where you not only browse the products but also get customized recommendations and can chat with sales associates. But instead of checking out and then getting it shipped, you send the shopping list to the store and they have it ready for you when you get there. But you haven't paid yet, so you can still browse around, change your mind, switch sizes, or whatever you want to do. Or, you can just grab your stuff, pay, and leave.
I think this is a really good bricks and clicks strategy. I would be interested in hearing your ideas for improving it.