Remove ATS Remove Customer Retention Remove Fulfillment Remove Promotions
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The four trends defining online retail in 2024

Inside Retail

Customer retention With both consumers and retailers feeling the pinch of increasing costs, customer retention will be a key theme of 2024. The competitive landscape is overflowing, making customer acquisition more expensive. Customer retention efforts are six to seven times more cost-effective.

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Salesforce Predicts Just 1% YoY Online Sales Growth for U.S. Holiday Season

Retail TouchPoints

“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. 22, 2023 briefing.

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The 4 pillars of e-commerce profitability (promos aren’t always the answer)

Inside Retail

Retailers should also consider the differences between new and existing customers and shape retention strategies accordingly. Pillar 2: Product selection, pricing, and promotions. Additionally, many retailers continue to push e-commerce offers and promotions, despite thin profit margins.

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Virtual Queues: The Waiting Isn’t the Hardest Part

Retail TouchPoints

Before, people came to the store, looked at and selected items, purchased them and left. Today, customers may order online, come to your store to pick up their orders and never step foot inside your store. Customer waits may be inevitable sometimes, but that doesn’t mean they also can’t be profitable. A World of Data.

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4 Ways Retailers can Leverage Generative AI to Drive Revenue and Productivity

Retail TouchPoints

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. The agents can instead focus on dealing with more complicated customer issues or driving customer retention offers.

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Inside Smart Commerce: The Future of Brick-and-Mortar is ‘Store as Media’

Retail TouchPoints

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. 24-25 at McCormick Place, Chicago, Illinois.

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Forrester: Seek New Revenue Sources to Avoid Commodity Price Wars

Retail TouchPoints

This gives them a notable pricing advantage compared to retailers that need to move product on a regular basis, particularly for what Sucharita Kodali, VP and Principal Analyst at Forrester, referred to as “over-commoditized” items that have been made widely available on multiple platforms.