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Deloitte Shares Loyalty Trends and Best Practices for 2024

Retail TouchPoints

To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts ( 77% ) and loyalty program points ( 61% ), according to Retail TouchPoints research. Deloitte found that consumer interest in co-branded credit cards dropped 11% between 2022 and 2023. A major reason for this drop?

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5 Ways Retailers Can Tackle Wavering Customer Loyalty

Retail TouchPoints

In fact, the use of traditional media — such as TV, radio, direct mail and outdoor advertising — as a customer acquisition tool rose from 29% in 2021 to 51% in 2022, second only to email outreach (68%). Stand Out Beyond Free Shipping . Last year’s top retention tool — free shipping — fell slightly, from 64% in 2021 to 57% in 2022.

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Rethinking Returns: Innovative Strategies for Retailers to Drive Growth in 2024

Retail TouchPoints

This inconvenience can turn the simple task of returning a product into a burdensome chore, detracting from the overall shopping experience. There’s also a cost consideration for retailers: faster and more convenient returns mean products are restocked sooner, and customers who return items are more likely to shop again quickly.

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How Ecommerce Retailers Can Prepare Now for Back-to-School 2022

Retail TouchPoints

This is also the ideal time to review the online customer journey, because consumer expectations for ecommerce convenience and personalization are higher than ever, based on the findings of ClearSale’s 2021 State of Consumer Attitudes on Ecommerce, Fraud & CX survey. Personalize Your Back-to-School Marketing.

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How to transform returns from a costly headache into a profit centre

Inside Retail

Up to 30 per cent of your sales may end in a return, and up to 50 per cent of an item’s original value makes up the return cost, including shipping, warehousing, and labour costs,” explains Tara Daly, senior director of product marketing at Loop Returns. The average rate of customer retention in e-commerce is around 38 per cent.

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How to transform returns from a costly headache into a profit centre

Inside Retail

Up to 30 per cent of your sales may end in a return, and up to 50 per cent of an item’s original value makes up the return cost, including shipping, warehousing, and labour costs,” explains Tara Daly, senior director of product marketing at Loop Returns. The average rate of customer retention in e-commerce is around 38 per cent.

Returns 147
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Preparing for EOFY sales success: 2024 omnichannel approach

Inside Retail

Today, customers aren’t choosing between shopping online or in-store; 75 per cent of consumers rely on both physical and digital touchpoints throughout their buying journey. Businesses need efficient shipping solutions, using an omni-courier shipping strategy, to manage costs. How many pages are customers taken through?