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The Power of Loyalty: Enhancing Customer Retention for Small to Medium-Sized Retail Stores with iVend POS

I Vend

Customer retention is one of the most valuable and important strategies for building a successful mid-size retail business. It places the focus on customer lifetime value (CLTV) – the total that a customer spends with the retailer over a relationship that usually spans years, and even generations.

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Half Price Books Implements New Solution to Tie Digital Ads to Store Traffic

Retail TouchPoints

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. ”

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The Future of Retail and AI

Retail TouchPoints

As retailers collect more data on customer behavior and uncover new patterns and trends, they can use their insights to optimize other store operations — even if those other stores aren’t AI-enabled. By leveraging tools powered by AI, retailers will be in the best position to foster customer retention and brand loyalty.

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Bed Bath & Beyond to Close 150 Stores, Cut 20% of Workforce

Retail TouchPoints

The retailer plans to leverage its recently introduced cross-banner Welcome Rewards loyalty program to drive traffic, sales and customer retention. For now, Bed Bath & Beyond is trying to maximize its multi-banner business model.

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At Home to be Taken Private in $2.8 Billion Purchase

Retail TouchPoints

to $562 million and a comparable store sales increase of 30.8% At Home plans to retain this momentum with an emphasis new customer retention and growth. H&F believes At Home’s low-cost operating model and emphasis on low prices will help the retailer continue to gain market share in the future. “As

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Retailers Increasingly Turning to Third-Party Resources to Handle Fulfillment

Retail TouchPoints

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.

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3 Predictions for the Future of Omnichannel 

Retail TouchPoints

Prediction 1: Retailers will continue to balance customer acquisition and retention. In 2021, retailers shaped their omnichannel strategies around two key issues: customer acquisition ( 63% ) and customer retention ( 58% ).