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How to transform returns from a costly headache into a profit centre

Inside Retail

For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. The average rate of customer retention in e-commerce is around 38 per cent. That means that just three out of 10 customers stick with one single brand for more than one year.

Returns 147
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How to transform returns from a costly headache into a profit centre

Inside Retail

For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. The average rate of customer retention in e-commerce is around 38 per cent. That means that just three out of 10 customers stick with one single brand for more than one year.

Returns 147
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Top 5 Customer Service & CX Articles for Week of May 13, 2024

Hyken

Each week, I read many customer service and customer experience articles from various resources. 8 Keys to Making Customer Service a More Positive Experience by Martin Zwilling (Inc. They expect you to be there, to know their history as a customer, and to treat them with priority and respect. Ease of use.

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

Retail TouchPoints

The company says Quin helps shoppers make better and faster decisions throughout their online or in-store journeys — fulfilling any sophisticated shopping request — ranging from finding available product assortments or recipes that match a whole suite of health- or budget-related constraints — to general health and customer service.

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Wish’s New CEO has his Sights Set on a Comeback — Here’s How He Plans to Do it

Retail TouchPoints

“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. Most consumers have no idea that they were going to buy the item that they actually bought [on Wish]. In my mind there is also a limited amount of competition.

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The Future of Online Shopping: The E-commerce Trends that Shape the Retail World

365 Retail

Fewer barriers for professional e-commerce, coupled with the increased popularity of social media, lead to the rise of micro brands, and as a result, the number of online merchants will grow exponentially and will lead to increased competition and higher customer acquisition costs.

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Delivery disruption is en route: how can retailers prepare?

A1 Retail

Shipping delays significantly impact retailers and consumers, leading to frustrations that can ultimately result in revenue losses and drops in customer retention. At a time when merchants are looking to cut costs to remain competitive, delivery disruption is a headache they really don’t need, but something they can’t ignore.