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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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Building a Customer Retention Strategy

Rangeme

With funnel understanding, you can build a customer retention strategy for e-commerce and retail. Customer retention in e-commerce. E-commerce retention starts the moment a customer makes a purchase (in the diagram above that would be the Decision step). Customer retention in retail.

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Different Things to Consider Outsourcing in Your Retail Business (and Why)

Retail Focus

Order Fulfillment When outsourcing, retailers can benefit from streamlined inventory management, order processing, and shipping. Outsourcing this critical function frees up valuable time and resources, enabling retailers to concentrate on sales and customer service.

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Survival guide: The keys to resilience and success in tough times

Inside Retail

This instability, together with increased gas and energy prices, has affected shipping costs. Using technology effectively to streamline operations can free up staff to focus on other areas of the business, such as customer service. Pricing and promotional strategies will be vital as consumers are more cost-conscious.

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

Retail TouchPoints

To maximize both sales and profitability this holiday season, both retailers and brands will need to focus on customer retention and loyalty: “A lot of switching happened over the past few years, and now consumers are looking for value and quality,” said Garf. In fact, 74% of associates’ time is on non-checkout functions.

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How to Keep Your Loyalty Program Members Engaged Long-Term, Even After the Holidays

Retail TouchPoints

According to Clarus Commerce data , during the holidays shoppers cared most about product discounts, special expedited shipping, better return policies and free samples with purchase. Loyalty program benefits that inspire action are a great way to engage customers post-purchase and identify and stimulate brand advocates.

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How to Make Sense of the Complex Modern Grocery Retail Landscape 

Retail TouchPoints

The challenge with ordering too much food is that shipping is expensive and often unreliable with supply chain troubles, and warehouse space is a very limited resource. Grocers that convince customers to become loyalty card holders, for example, will achieve levels of customer retention that restaurants don’t often see.