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12 Proven Customer Retention Strategies in Retail

RETAIL MANAGEMENT SOFTWARE

In the world of retail, the importance of customer retention cannot be overstated. As businesses focus on attracting new customers, it’s equally crucial to invest in keeping existing ones. Retaining customers not only ensures consistent revenue but also fosters brand loyalty and advocacy.

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How Retail Returns Influence Customer Retention

Retail TouchPoints

There are hefty fees for merchants when it comes to returns — shipping is costly and restocking takes time and money, which can take a toll on any business. However, not providing a frictionless customer experience has long-term growth implications that you need to consider if you hope to maintain a successful e-commerce business.

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Dr Squatch reaps the rewards of International success with J&J Partnership

Retail Focus

The partnership has also fuelled significant advancements in Dr Squatchs direct-to-consumer (DTC) operations, including quicker click-to-delivery, improved customer retention and hands-off fulfilment. It has also helped us improve service and reduce shipping costs exponentially in specific key areas.

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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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What’s in store for retailers in the battle for survival, success and supremacy?

Inside Retail

Smaller carriers, in particular, will face working capital pressures, making it essential for retailers to build flexible, multi-carrier shipping strategies to mitigate risk and maintain delivery consistency. With delivery reliability significantly impacting customer retention and lifetime value, this must be a key focus for retailers.

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Key Strategies to Improve Your Retail Company’s Online Customer Journey and Increase Customer Retention

Retail Focus

By building an intelligently optimised online customer journey you can achieve higher sales conversion rates, improved customer retention, and a stronger, more recognisable brand. This can ideally lead to long-term customer retention and improve the profitability and efficiency of your business processes.

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Planning to sell online in the US? Here are some tactics to ensure success

Inside Retail

Tara Daly, senior director of product marketing at Loop Returns , shares with Inside Retail advice on getting started in the US market, some tips on cross-border shipping and logistics – including managing returns in a way that builds customer loyalty – and how to drive repeat business.

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