Retail Focus

AUGUST 25, 2024

One of the biggest takeaways that casinos can borrow from retail is to have a customer-centric approach where gaming can be fun, relaxing and responsible. The post What Can Casinos Learn From the Retail World on Customer Retention appeared first on Retail Focus Magazine - Retail Design.

Customer Retention 130

Customer Retention Marketing Retail Marketing Promotions 130

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

I Vend

JUNE 20, 2024

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.

Customer Retention 94

Customer Retention Management Consumer Marketing 94

Retail TouchPoints

NOVEMBER 5, 2024

Strategies to Improve Authentication Practices To improve authentication practices and encourage customers to adopt more secure login methods, consider the following strategies that balance security with user convenience and education. This can help mitigate the risk of breaches and improve customer retention.

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Payment Services Customer Retention Accounting Checkout 298

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.

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Customer Retention Fulfillment Customer Experience Marketing 299

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.

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Location Customer Retention Shopping Consumer 264

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. ”

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Customer Retention Marketing Consumer Shopping 317

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.

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Marketing Marketing Spend Customer Retention Advertising 287

Retail TouchPoints

DECEMBER 17, 2021

Google ) Companies with well-defined omnichannel customer experience strategies see a 91% higher year-over-year increase in customer retention rate on average, compared to those without. Omnisend , 2020) Omnichannel shoppers have a 30% higher lifetime value. Aberdeen Group ).

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Customer Retention Customer Experience Consumer Shopping 328

Inside Retail

AUGUST 25, 2024

The company saw record 519,000 returning customers, up 5.8 Active customers rose 1.6 Customer retention and brand awareness grew to 64.7 The online beauty retailer’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 661 per cent to $4.8 million while revenue grew 7.4 per cent to $195.7

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Returns Customer Retention Accounting Marketing 277

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.

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Customer Retention Consumer Marketing Visual Merchandising 262

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.

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Customer Retention Accounting Promotions Management 263

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

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Shopping Customer Retention Returns Consumer 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. ”

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Customer Retention Shipping Consumer Planning 264

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.

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Customer Retention Jewelry Fulfillment Outdoor 276

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.

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Returns Customer Retention Consumer Shopping 297

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.”.

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Customer Retention Marketing Management Consumer 246

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.

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Customer Retention Returns Accounting Management 246

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.

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Planning Customer Retention Wholesale Location 263

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 76

Customer Retention 76

Retail TouchPoints

JUNE 29, 2021

Over the course of 2020, retailers increasingly turned to AI-driven technology to optimize their operations and better understand their customers. In 2021, retailers will utilize the data they’ve gathered over the past year to focus on customer retention and fostering brand loyalty.

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Payment Services Checkout Customer Retention Kiosk 274

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.”

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Customer Retention Planning Marketing ATS 245

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).

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Customer Retention Customer Experience Consumer Shopping 264

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 Planning 290

Retail TouchPoints

AUGUST 31, 2022

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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Customer Retention Finance Fulfillment Planning 289

Hyken

DECEMBER 31, 2021

She shares 5 customer service strategies that improve customer retention. People may cut companies some slack if a product doesn’t quite work as expected, but only when the customer service experience makes up for these missteps. . What’s the main reason that customer service is so important?

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Customer Retention Business Communication Marketing Consumer 120

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.

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Fulfillment Drop-Shipping Customer Retention Shipping 289

Retail TouchPoints

MAY 7, 2021

At Home plans to retain this momentum with an emphasis new customer retention and growth. The retailer reported a net sales increase of 41.3% to $562 million and a comparable store sales increase of 30.8% as shoppers continued investing in home improvement projects during late 2020.

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ATS Customer Retention Home Furnishings Planning 202

Retail TouchPoints

JULY 1, 2021

It provides them with a tool to focus on current customers’ traffic vs. leveraging illegal mediums to attract new customers. Typically, customers do not mind these often non-altruistic but profitable methods of customer retention. Why does customer loyalty work?

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Customer Retention Advertising Consumer Marketing 222

Retail TouchPoints

SEPTEMBER 13, 2023

It’s important that financial partners help retailers by continuing to enhance the customer experience, thereby helping retailers reduce chargeback transactions, lower dispute costs and increase customer retention. Gaurav Mittal is the EVP of Ethoca , a Mastercard company.

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Payment Services Customer Experience Customer Retention Consumer 277

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.

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Drop-Shipping Checkout Customer Retention Shipping 263

Retail TouchPoints

JUNE 22, 2020

“Within just three months after the launch, we witnessed an impressive 26.72% improvement in customer retention and a 23.39%. “Loyalty email campaigns played a vital role in this success and we are eager to explore other opportunities to engage our customers further.” ”

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Customer Retention Shipping ATS Marketing 159

Retail TouchPoints

MAY 11, 2021

With that in mind, here are five essential KPIs you can use to measure how good your returns experience is, so that you can make sure you are improving customer retention and lifetime value. In the long term, though, you’re probably losing that customer. Purchase Frequency Before Return Versus Purchase Frequency After Return.

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Customer Experience Returns Customer Retention Shopping 219

Retail TouchPoints

APRIL 5, 2024

The following disciplines are essential: A 360° single customer view across all products and services Management and automation of highly personalized customer interactions across all channels Quick development (in minutes, not days) of customer retention campaigns Easy deployment of hyper-targeted, customer activity-triggered campaigns Continuous (..)

Customer Retention 312

Customer Retention Marketing Consumer Shopping 312

Retail TouchPoints

APRIL 1, 2024

Research shows that nearly 30% of businesses lacking appropriate multilingual support have lost customers. On the other hand, businesses providing multilingual support see tangible benefits, like bolstered loyalty that improves overall customer retention.

Customer Experience 320

Customer Experience Clienteling Customer Retention Accounting 320

Inside Retail

NOVEMBER 15, 2021

CIMET, a white-label platform that compares services and prices from multiple retailers, is dedicated to helping brands diversify by creating user experiences that significantly improve customer retention.

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Payment Services Customer Retention Marketing Consumer 246