Inside Retail

MAY 29, 2024

“Up to 30 per cent of your sales may end in a return, and up to 50 per cent of an item’s original value makes up the return cost, including shipping, warehousing, and labour costs,” explains Tara Daly, senior director of product marketing at Loop Returns. The average rate of customer retention in e-commerce is around 38 per cent.

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Returns Merchant Services Drop-Shipping Shipping 147

Inside Retail

FEBRUARY 26, 2024

There are several economic factors playing havoc with consumers and business operations that are likely to persist into 2024. Consumer sentiment remains low as households stagger under higher costs of living and interest rates. A strong personal connection increases the likelihood that a consumer will remain loyal to that brand.

Inventory Turnover 147

Inventory Turnover Supply Chain Management Customer Retention Inventory Management 147

Retail Times

MAY 31, 2022

The soaring inflation rate is squeezing consumers’ budgets in the UK, and many are choosing to shop at supermarkets that are perceived as the best value for money as a result, says GlobalData.

Customer Retention 52

Customer Retention Supermarket Promotions Shopping 52

Retail TouchPoints

NOVEMBER 30, 2023

The innate connections we have with food and beverage brands, especially those we have grown up with, create a built-in opportunity for companies like PepsiCo to drive customer retention and loyalty. Retail TouchPoints (RTP) How have consumer behaviors shifted for brands within the CPG category specifically? consumers.

Consumer 244

Consumer Customer Retention Marketing Advertising 244

Retail TouchPoints

AUGUST 28, 2023

billion consumers worldwide. For the back-to-school season, 42% of consumers say they are spending more, but 57% are trading down for lower prices,” said Caila Schwartz, Director of Consumer Insights and Strategy for Retail and Consumer Goods at Salesforce during an Aug. trillion in online sales. 22, 2023 briefing.

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Returns Fulfillment Shipping Checkout 197

Inside Retail

JUNE 28, 2021

In today’s new normal, the shopping experience is no longer defined by the boundaries of bricks-and-mortar, but by the customer journey as a whole. Consumers now expect retailers to engage them whenever and wherever they want, with a shopping experience tailored to their individual needs. Creating cohesive customer experiences.

Customer Experience 221

Customer Experience Customer Retention Payment Services Advertising 221

Retail TouchPoints

APRIL 12, 2023

As consumers look to save money on takeaways and eating out, grocery retailers can be the quiet winners during an economic downturn. We saw this at the start of the pandemic when food store sales shot up by 21%. still plan to cook more at home. While this may sound positive for supermarkets, it also brings new challenges.

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Supermarket Grocer Customer Retention Checkout 222

Hyken

MAY 13, 2024

My Comment: This article is about customer support. Our customer service and CX research found that 43% of US consumers would rather clean a toilet than contact customer support. Heavy adoption by customer base driven by employees actively promoting 4. What Is Churn Rate? Ease of use. Personalization.

Merchant Services 61

Merchant Services Customer Retention Customer Experience Advertising 61

Retail TouchPoints

JANUARY 18, 2022

Retailers frequently ask customers to enroll in a loyalty program at point of sale — especially during the holiday shopping season. In fact, 61% of consumers have joined a loyalty program to get discounts for holiday shopping. 3 Steps for Inspiring Customers to Stay Engaged.

Customer Retention 262

Customer Retention Shipping Point of Sale Consumer 262

Retail TouchPoints

JUNE 29, 2021

In order to understand where the future of retail is headed, we’re going to take a look at how the pandemic has impacted the retail industry and how it has already started to adapt to pandemic challenges. . Simultaneously, data and analytics were at the forefront of retailers’ minds as stores sought to anticipate their consumers’ needs.

Payment Services 222

Payment Services Checkout Customer Retention Kiosk 222

Retail TouchPoints

JULY 19, 2021

In fact, experts and practitioners across the retail spectrum largely agree that the store is a crucial vehicle for customer retention, engagement and loyalty. Even once-digital only brands like Warby Parker have doubled down on their store investments.

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Advertising Consumer Customer Retention Fulfillment 297

Retail TouchPoints

MARCH 30, 2023

The virtues of composable commerce and the emerging possibilities of generative AI were key themes of this year’s Connected Consumer Series , Resilient Retail: How Efficient, Effective and Engaging CX is Fueling Growth. But it’s very difficult to get to any of the other items in the store if the POS is still in a client/server-based silo.

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Point of Sale Checkout Consumer Promotions 255

Retail TouchPoints

FEBRUARY 8, 2023

Two things advertisers don’t enjoy are a rocky economy and a frugal consumer. Meta’s CPM increased by 61% YoY , at an average of $17.60. TikTok’s CPM made a huge jump of 185% YoY , at an average of $9.40. Per Statista , the global cost-per-click (CPC) of search advertising in Q1 2022 was at $0.62, compared to $0.52

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Advertising Customer Retention Marketing Consumer 217

Inside Retail

JUNE 22, 2023

With high inflation and climbing interest rates, consumer sentiment is set to plunge further, with retail spending set to decline in the June quarter. But what are the implications of a retail recession, and just how damaging will it be for retailers and consumers? The consumer is certainly hurting,” he said.

Consumer 246

Consumer Customer Retention Accessories Marketing 246

Inside Retail

MARCH 14, 2023

“One of the key takeaways from the report was that consumers are looking for quality content online, and retailers need to look into communicating stories in a better way to get more eyeballs,” Mimrah Mahmood, senior director and partner at Meltwater Asia-Pacific, told Inside Retail.

Payment Services 130

Payment Services Customer Retention Marketing Consumer 130

Retail Minded

JULY 29, 2023

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. Understanding Changing Consumer Behavior The retail industry is undoubtedly no longer what it used to be; customer shopping habits and preferences are quickly changing.

Payment Services 52

Payment Services Consumer Inventory Management Promotions 52

Retail Minded

JULY 29, 2023

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. Understanding Changing Consumer Behavior The retail industry is undoubtedly no longer what it used to be; customer shopping habits and preferences are quickly changing.

Payment Services 52

Payment Services Consumer Inventory Management Promotions 52

Retail TouchPoints

DECEMBER 21, 2021

Throughout the 2010s, brick-and-mortar retailers worked hard to keep up with the evolving consumer landscape. Before, people came to the store, looked at and selected items, purchased them and left. Before, people came to the store, looked at and selected items, purchased them and left. A World of Data.

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Kiosk Customer Experience Customer Retention Promotions 278

RETAIL MANAGEMENT SOFTWARE

DECEMBER 24, 2021

The Retail market landscape has seen significant changes in retail trends and shifts in consumer behavior since the coronavirus breakout, but the industry now appears more optimistic about the growth prospects. To meet the right customers, retailers use Facebook and Google ads that are personalized and highly targeted. New Look Stores.

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Retail Trends Consumer Payment Services Fulfillment 94

Retail TouchPoints

AUGUST 11, 2022

With users and revenue currently at all-time lows, new CEO Vijay Talwar has a herculean task ahead of him as he works to bring this ecommerce giant back to its feet. People love a comeback story, and I really believe there is something here [at Wish] — there is a value proposition and [an opportunity] to align with consumers.

Merchant Services 216

Merchant Services Planning Consumer Shipping 216

I Vend

JUNE 14, 2023

Customers with a high lifetime shopping value, and who generate far more in revenue than it costs to acquire them in the first place. iVend offers iVend offers POS systems for customer loyalty and retention Learn more about how we drive customer loyalty in retail. Single view of customer – across all channels.

Customer Retention 52

Customer Retention Promotions Advertising Shopping 52

Inside Retail

SEPTEMBER 4, 2022

This global behavioural evolution – which has its roots in the accelerated e-commerce phenomenon consumers underwent during the pandemic – is particularly marked in Australia, where shoppers tend to be big fans of loyalty programs. . Classic loyalty programs are centred around capturing data and are powered by the adaptivity of data sharing.

Customer Retention 147

Customer Retention Checkout Consumer Marketing 147

Retail TouchPoints

SEPTEMBER 19, 2022

What it doesn’t sound like is a recipe for providing the superior customer service today’s consumers demand. Yet it’s these front-line workers that are the ones your customers engage with most and set the tone for the shopping experience. At the same time, they stay connected with a larger number of coworkers.

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Marketing Customer Retention Location Consumer 215

Retail TouchPoints

AUGUST 7, 2023

Developing your digital marketplace should be an ongoing process that allows you to stay nimble, by collaborating with your marketplace partners to offer a variety of products and services for your customers. Customers benefit from being able to pay as they go for the technology they are consuming.

Customer Experience 203

Customer Experience Customer Retention Marketing Shopping 203

Retail TouchPoints

JUNE 27, 2022

This has been a volatile year for retailers and consumers alike, and the uncertain nature of 2022 has been shaping trends across the industry, according to Forrester’s Vast, Fast, And Relentless: Consumer Buying Enters A New Era report. Promote Retention by Offering Something No One Else Can.

Customer Retention 213

Customer Retention Promotions Consumer Fulfillment 213

Hunton Andrews Kurth

MARCH 27, 2023

On March 23, 2023, the FTC issued a notice of proposed rulemaking aimed at deceptive and unfair practices involving recurring charges for automatically renewing subscriptions and memberships. While the rule does not prohibit free or reduced-price trials to entice consumers to sign up, it may limit the effectiveness of such promotions.

Customer Retention 59

Customer Retention Consumer Promotions ATS 59

Retail TouchPoints

APRIL 8, 2021

A study found that referral marketing is trusted by 86% of customers, making it the most trusted form of marketing. A consumer is also 50X more likely to buy a product when it is recommended by their close friends and family. Not surprisingly, consumers are more likely to trust their network than sponsored ads.

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Promotions Customer Retention Marketing Consumer 153

Retail TouchPoints

JULY 10, 2023

These first movers near universally are noting the gigantic opportunity to transform their business, from operations to customer relations and retention. And there’s plenty of money at stake. Consumers today are continuously looking for the best prices before making a purchase decision. trillion in 2026, from $3.3

Merchant Services 259

Merchant Services Customer Retention Shipping Marketing 259

I Vend

AUGUST 10, 2022

Check out how our loyalty programs drive customer advocacy. Consumers trust other consumers, even if they don’t know them personally, with 79% of consumers saying they trust online reviews as much as personal recommendations. Read more Trust and community. A successful retail community is founded on trust.

Customer Retention 98

Customer Retention Customer Experience Promotions Point of Sale 98

Inside Retail

MAY 16, 2022

By analysing sales figures against all marketing efforts, it is possible to understand the types of offers to which consumers are most responsive. Retailers should also consider the differences between new and existing customers and shape retention strategies accordingly. Pillar 2: Product selection, pricing, and promotions.

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Fulfillment Promotions Shipping Returns 130

Retail TouchPoints

AUGUST 15, 2022

New research from PwC has found that three in 10 customers are more likely to try a new brand — and that number is even higher among younger consumers. But winning (and keeping) customers’ loyalty is no longer confined to programs and points. Collect and Leverage First-Party Data . Invest in Your People .

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Drop-Shipping Shipping Outdoor Customer Retention 180

365 Retail

AUGUST 30, 2022

Are more customers likely to join loyalty schemes because of the cost-of-living crisis? According to pay.uk , most consumers have emerged from the pandemic with an unwavering sense of loyalty to the their favourite brands. Customer retention. Liability associated with promotional currency if not managed correctly.

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Supermarket Customer Retention Social Commerce Consumer 105

Inside Retail

SEPTEMBER 19, 2022

With the rapid evolution of digital channels and online shopping, a global pandemic, and supply-chain challenges, retail is evolving at an unprecedented pace. Customer expectations of engagement and experience in retail are changing equally quickly. Brands must exchange value when customers are willing to provide information.

Customer Experience 147

Customer Experience Customer Retention Marketing Promotions 147

RETAIL MANAGEMENT SOFTWARE

APRIL 24, 2023

In today’s fast-paced retail landscape, customer loyalty has become a critical factor in business success. With increased competition and changing consumer behaviors, retailers must stay ahead of the curve by implementing effective customer loyalty programs.

Customer Retention 84

Customer Retention Management Promotions Clienteling 84

Cisco Retail

JULY 16, 2021

Our guest blogger this week is Dave Jennings, VP Strategic Solutions at imi mobile. With consumer behavior constantly evolving, customers want their interactions with businesses to be more seamless than ever. However, the retail industry, like many others, faces challenges to create the experiences that customers expect.

Customer Retention 145

Customer Retention Promotions Location Customer Experience 145

Hyken

DECEMBER 10, 2023

10 Questions Every Business Leader Should Ask About Customer Retention by Samuel Wilson (Forbes) Many of you can probably recall an experience of sitting in a big conference room with the quarterly review slides and questioning why growth isn’t higher. My Comment: Amazon is always at the forefront of customer service and CX.

Customer Retention 51

Customer Retention Customer Experience Advertising Promotions 51

Wiser

DECEMBER 5, 2023

By offering a product at a loss, retailers draw traffic to their stores or websites. Customers enticed by the low-priced item often end up purchasing other items at regular prices, driving up profits. Unsurprisingly, there are a number of pros and cons to selling products at a loss.

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Store Layout Customer Retention Consumer Marketing 78