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For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. The average rate of customerretention 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.
For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. The average rate of customerretention 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.
But now, with the pandemic posing less of an economic threat than it did just two years ago, and with customersreturning to a more ‘normal’ state of shopping, it’s high time for retailers to really consider what is next for the industry. Most retailers tend to focus on the top of the funnel: on their return on advertising.
If you look at companies like Apple and Amazon they do a really good job of increasing sales from their existing customer base. Are you leaving money on the table that could come from customers you already have? If you are here are six tips you should consider to increase your customerretention rate. Sell great products.
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