Inside Retail

APRIL 26, 2024

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.

Customer Retention 277

Customer Retention Fulfillment Social Commerce Supply Chain Management 277

Retail Customer Experience

DECEMBER 22, 2023

This holiday season, retailers should focus on three key enhancements to the post-purchase experience to keep their customers loyal and avoid revenue loss due to cart abandonment.

Customer Retention 59

Customer Retention 59

Retail TouchPoints

MAY 20, 2024

2024 Brand Experience Award Winners Category: Customer Retention & Loyalty DSW Hy-Vee, Inc. Garnering more than 200 nominations, the Retail TouchPoints editorial team assessed all entries and selected winners based on various guidelines, including: overarching strategy, creative approach, tactical execution and overall results.

Customer Retention 293

Customer Retention Fulfillment Customer Experience Marketing 293

Inside Retail

MAY 13, 2024

Amid significant shifts in shopper buying behaviours throughout last year and already this year, retailers are working hard to stay in front of existing customers and attract new ones. Economic uncertainty and customer purchasing habits are weighing heavily on marketing leaders’ minds. However, the acquisition is only half the story.

Marketing 287

Marketing Marketing Spend Customer Retention Advertising 287

Inside Retail

JULY 18, 2024

Retailers are responding to rising shopper expectations by demonstrating value in new ways and many are focused on customer retention (63 per cent), customer acquisition (62 per cent) and marketing and advertising (61 per cent).

Customer Retention 264

Customer Retention Customer Experience Consumer Shopping 264

Retail TouchPoints

MARCH 19, 2024

The retailer also is positioning itself as a seasonal décor destination, promising 60% newness in home and holiday décor seasonally as a strategy to boost customer retention.

Customer Retention 238

Customer Retention Consumer Marketing Visual Merchandising 238

Inside Retail

APRIL 9, 2024

Frequent flyer programs infamously saved airlines’ profit margins by driving customer retention and eventually lucrative partnerships with banks. Inside Retail spoke to Philip Shelper, founder and CEO of Loyalty & Reward Co, to better understand the chasm between airline loyalty programs and retail loyalty programs.

Customer Retention 130

Customer Retention Consumer Planning Department Stores 130

Retail TouchPoints

MARCH 27, 2023

The retailer expands into new markets by first learning about the needs of local communities to determine the right place and time for entry, and this strategy will now be extended to how it handles customer retention. ”

Customer Retention 276

Customer Retention Marketing Consumer Shopping 276

Retail Customer Experience

APRIL 23, 2024

With 92% of businesses leveraging AI-driven personalization for growth, and 62% of leaders noting enhanced customer retention, the power lies in AI's ability to analyze extensive data, allowing retailers to deliver tailored products based on individual preferences and interactions.

Customer Experience 87

Customer Experience Customer Retention 87

Retail TouchPoints

NOVEMBER 18, 2020

But the first step, before marketers consider how they’ll maintain this customer loyalty, is to examine the latest consumer data in order to understand key shifts in their customers’ behavior. Loyalty programs are considered among the best tactics for building customer retention, as they can help increase purchase frequency.

Location 256

Location Customer Retention Shopping Consumer 256

Hyken

SEPTEMBER 4, 2023

You can’t download a report about digital or technology trends without being assailed with stats and surveys outlining how great CX is key to keeping and gaining customers. Finally, he presents the concept of “customer Service as an Experience.” 7 Small-Business Strategies for Customer Retention by Kalin Kassabov (Inc.

Customer Retention 55

Customer Retention Customer Experience Management Marketing 55

Retail TouchPoints

DECEMBER 15, 2022

It also offers loyalty amplifiers such as sweepstakes, UGC contests and trivia, with the goal of helping brands enhance customer acquisition, program onboarding and education, revenue, point burn, customer retention and brand advocacy.

Customer Retention 242

Customer Retention Accounting Promotions Management 242

Inside Retail

APRIL 20, 2022

The group has also registered ‘strong’ overall customer retention during the quarter with 47 per cent of marketplace revenue coming from repeat purchases – the highest level since the company was founded. Operating EBITDA was $4.5

Shopping 246

Shopping Customer Retention Returns Consumer 246

Inside Retail

JUNE 27, 2023

“Whilst inflationary pressures have played into our profitability in the short-term, our long-term growth plans remain on track, and we will continue to prioritise providing exceptional value across each of our brands as a primary driver of customer retention and engagement.”

Customer Retention 245

Customer Retention Planning Marketing ATS 245

Retail Customer Experience

APRIL 17, 2024

A loyalty program has a positive impact by increasing customer frequency, improving customer retention, growing the average basket, and ensuring profitability.

Customer Retention 75

Customer Retention 75

Hyken

JUNE 30, 2024

How you’ve “always done it” may not meet the modern customer’s expectations. If you’re guilty of any one (or more) of these, it might be time to consider changing your process.

Customer Retention 63

Customer Retention Customer Experience Shopping ATS 63

Storis

MAY 17, 2024

Understanding the advantages of earning repeat customers is the foundation to grow your company. Before diving into improving your company’s customer retention rate, it is important to understand how it will positively affect your company. Reducing customer defection rate by 5% can increase profitability by 25-125%.

Customer Retention 52

Customer Retention Home Furnishings Payment Services Customer Experience 52

Retail TouchPoints

JUNE 15, 2023

These companies, and their award-winning strategies and campaigns, will be featured in more detail in an awards report, running later this June.

Customer Retention 251

Customer Retention Jewelry Outdoor Fulfillment 251

Inside Retail

AUGUST 28, 2022

Company CEO Tennealle O’Shannessy said the higher proportion of returning customers highlights the future potential for the brand’s business.

Customer Retention 246

Customer Retention Returns Accounting Management 246

Retail TouchPoints

MAY 25, 2022

Loyalty has grown in importance alongside customer retention, with a strong loyalty program and company values both remaining important parts of building out a long-term relationship with customers. ”

Customer Retention 257

Customer Retention Shipping Consumer Planning 257

Retail TouchPoints

MAY 2, 2023

It’s meant to be quite simple for a shopper, but as an ecommerce retailer, you know it’s not that easy — especially if the customer changes their mind and wants to return said magical shipment back to your shop. Online shopping is arguably the most convenient purchasing experience.

Customer Retention 264

Customer Retention Returns Merchant Services Shipping 264

Retail TouchPoints

JANUARY 18, 2024

We believe the best performing retail brands will have three legs to their growth story: wholesale , ecommerce and retail stores.

Planning 243

Planning Customer Retention Wholesale Location 243

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

Inside Retail

MAY 27, 2024

Nailing each stage of the delivery journey The research identifies a close link between the delivery experience and customer retention. The results of the survey – which we conducted together with Inside Retail – are now available in a new research report.

Drop-Shipping 263

Drop-Shipping Checkout Customer Retention Shipping 263

Retail TouchPoints

APRIL 11, 2023

Instead, returns should be viewed as an opportunity to create a positive experience for a customer, leading to a loyal customer base and long-term ROI. Companies that invest in a personalized customer service (CS) program will see improvement in both savings and revenue, despite the loss on returns.

Returns 275

Returns Customer Retention Consumer Shopping 275

Inside Retail

MARCH 3, 2024

An alternative approach is to focus on delivering an overall Customer Experience (CX) specifically designed to drive consistent and co-ordinated interactions across all touchpoints along the shopper journey.

Marketing 290

Marketing Customer Retention Returns Promotions 290

Inside Retail

JULY 14, 2021

“In the past year we’ve experienced first-hand the wave of customers flocking online to buy wine during the Covid-19 crisis. But more importantly we have seen these purchasing behaviours endure post lockdown… we can see [our] strategy producing impressive customer retention figures.”.

Customer Retention 246

Customer Retention Marketing Management Consumer 246

Inside Retail

NOVEMBER 11, 2022

According to the NRA’s Consumer Sentiment Report, over half of respondents said that the biggest barrier to customer retention was bad customer service, followed by out-of-stock items and long queues. Anything a brand can do to facilitate that will go a long way in building customer retention.

Customer Retention 130

Customer Retention Consumer Shopping Planning 130

Hyken

MAY 13, 2024

There are several suggestions on how to be customer-obsessed, but I was especially happy to see one of his major points in all caps: EXPERIENCE IS THE NEW BRAND. In this article, we explain why businesses must understand, calculate, track, and decrease their churn rate to retain customers and grow revenue. What Is Churn Rate?

Merchant Services 59

Merchant Services Customer Retention Customer Experience Advertising 59

Inside Retail

APRIL 28, 2022

Its active customer base grew by 7 per cent to 880,000 with customer retention remaining strong at 47 per cent. Based on unaudited accounts for the three months to March 31, the brand’s revenue rose 9 per cent to $42.7 The company’s mobile app accounted for 10 per cent of its revenue.

Customer Retention 130

Customer Retention Accounting Marketing ATS 130

Hyken

AUGUST 29, 2022

(Atlanta Small Business Network) The biggest marketing cost most small businesses face is that of acquiring new customers. Few business owners, however, pay anywhere near as much attention to customer retention, even though keeping an existing customer for longer is a far easier way to grow revenue.

Customer Retention 53

Customer Retention Customer Experience Fulfillment Advertising 53

Retail Gazette

JULY 10, 2024

We strongly believe that fulfilment and courier services are an acquisition tool and should never be an afterthought given its importance to the end customer. As a result, we expect to see improvements in customer retention rates off the back of this service, in addition to improving loyalty and winning new customers.”

Customer Retention 64

Customer Retention Fulfillment Shopping Consumer 64

Small Biz Trends

APRIL 19, 2022

Customer Retention: Maximize Your Profits. Customer Retention: Maximize Your Profits schools you on what customer retention is, why you need to do it, and the benefits of doing it.

Marketing 116

Marketing Customer Retention Advertising Target Market 116

Inside Retail

MAY 5, 2022

Shoppers are using a multi-channel approach to satisfy their needs – and this seismic shift, from both a consumer as well as a marketing perspective, has seen a huge increase in competition across every marketing channel in the customer journey. . o n Facebook tracking and user fragmentation, especially with the rise of TikTok.

Customer Retention 147

Customer Retention Advertising Marketing Consumer 147

Retail TouchPoints

JANUARY 29, 2024

But the 2023 survey showed that for approximately three in 10 respondents, omnichannel strategies also are being designed to create practical, bottom-line benefits: 31% of retailers cited improving customer retention as a key omnichannel objective, and 29% identified both reducing returns and making fulfillment services more cost-effective.

Fulfillment 279

Fulfillment Drop-Shipping Customer Retention Shipping 279

Hyken

JULY 26, 2021

What is Customer Retention? (+ 8 Customer Retention Strategies) by Madeleine Wilson. Business 2 Community) While customer acquisition, ratings and reviews, and social proof are the most externally visible success indicators for your brand, customer retention is an integral part of the health of your organization.

Customer Retention 84

Customer Retention Customer Experience Consumer ATS 84