Customer Retention
July 22, 2020 at 10:22 am
A 2018 post on evolving go-to-market strategies, by Sally Ann Lopez, noted that digital channels comprise a growing 10 percent share of $5 trillion in total annual sales, and recommending several e-commerce strategies to harness this emerging market. The worldwide COVID-19 outbreak rapidly shuffled the digital card deck, turning many recommendations into dire necessities for…
July 7, 2020 at 5:17 pm
Loyalty, loyalty, loyalty. If your business is working to harness the purchasing power of future generations, these wise words from Pulitzer Prize-winning millennial rapper, Kendrick Lamar, ring truer than ever in 2020. The spending power of Gen Z and millennials combined with the increasingly saturated retail market has made attracting repeat customers — and organic…
June 30, 2020 at 4:36 pm
The future of customer experience will be an expression of our deepest instinctive human behaviors — at warp speed and exponential scale — pushed on by advances in technology. And while technologies such as artificial intelligence (AI), big data and machine learning (ML) are indeed making strides, there’s one aspect that will really determine the ultimate customer…
June 29, 2020 at 7:17 pm
Customers are one of the base pillars that hold any retail business together. Without them, it crumbles, which is why you must keep them from leaving. Research shows that 87 percent of customers hop from one business to the other when shopping, only 13 percent are loyal to one brand, and another 58 percent completely…
June 21, 2020 at 10:25 am
2019 was a lackluster year for many brands; in the U.S. alone, more than 9,000 stores closed, nearly doubling the number of store openings and far surpassing the number of closures the year prior. While retailers around the world felt the pressure to adapt to a rapidly changing landscape, there were bright moments that showed…
June 17, 2020 at 7:44 pm
Amazon.com gets it. Target and Publix get it, too. Customers expect a lot from retailers. Not just competitive prices, but personalized online shopping, flexible pickup options and returns, knowledgeable and empathetic in-store and contact-center employees. In short, they expect outstanding customer experience (CX). Amazon, Target, and Publix recently finished in the top three for customer…
June 17, 2020 at 7:20 pm
U.S. commerce has experienced an unprecedented level of disruption since the COVID-19 pandemic began. Our modern global economy has never faced anything quite like it, and we’re still unraveling which industries will sink or float in a post-COVID world. While sheltering in place just a short time ago, many rushed to stock up on food…
June 12, 2020 at 11:57 am
The coronavirus may be ravaging the economy, but retailers’ creativity, agility and compassion mean they won’t suffer forever. Brands and businesses are flexing new and old muscles to take on this challenge. Below are four steps retailers can take right now to gain and retain customers, insights and loyalty: 1. Delve into data. The pandemic…
June 10, 2020 at 7:29 pm
Customer loyalty has been on the decline, with consumers having an abundance of options to choose from when making all sorts of retail purchases. If a retailer can’t meet a consumer's needs, whether it be related to price, product, experience, etc., he or she will often move on to a competitor that can. To help address…
June 9, 2020 at 3:55 pm
Most brands have one goal: engage with consumers successfully. Consumers have more choices than ever, and brands must create positive customer experiences to succeed. Even with all the competition in every industry, brand-loyal customers will continue to choose a brand based on the high caliber of its offerings and the overall experience. Positive brand awareness…
